Chinese GDP will be more than double that of the US in under a decade, if recent growth rates persist. (www.worldeconomics.com)

submitted 7 months ago by yogthos@lemmy.ml to c/worldnews@lemmygrad.ml

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[-] RedQuestionAsker2@hexbear.net 23 points 7 months ago

Can recent growth rates persist? China's GDP has been running hot for decades now. Seems like they need to level off at some point.

[-] knfrmity@lemmygrad.ml 37 points 7 months ago

Geopolitical Economy Report did two long video discussions on China's growth last month which are worth watching if you're interested.

In short, yes. China can keep up about a 5% average annual growth rate. Because capital is controlled by the state, and the state invests in developing the means of production and improving people's quality of life, China is indeed capable of achieving their development goals.

Interestingly enough, just as the decade or so of near ten percent annual growth was planned and achieved, the recent deceleration to about five percent growth was also planned.