There was a grand performance celebrating the 60th anniversary of the founding of the
People’s Republic of China on the Tian’anmen square in Beijing. The celebration, which was sadly shut off to much of the public, was well warranted.
A report by the National Bureau of Statistics (NBS) has said China contributed 19.2% of the world economic growth in 2007, up from 2.3% in 1978. Which means that China tops the world in contribution to global economic growth.
If one were to read the 18 reports in sequence — which one would not for they are dashed boring except to economists, a race not know for its exciting charisma — it shows the rise and rise of China.
According to the NBS, China’s gross domestic product (GDP) was $30 billion in 1952, more than doubling by 1960, and reached $3.86 trillion in 2008. And the trend continues upwards
China had also by 2008 become the world’s third largest economy accounting for 6.4% of the global GDP.
China Daily.com reports that meanwhile, the country’s gross national income (GNI) per capital has been catching up with the world average. The GNI per capita was 10.1% of the world average in 1978, and 32.3% in 2008.