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.