Chinese-Dragon
RETIRED TTA
- Joined
- Jul 9, 2010
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The Nominal GDP data in this wiki link has been taken from the IMF's WEO Database.
List of countries by past and future GDP (nominal) - Wikipedia, the free encyclopedia
China's GDP in 2003: $1.6 trillion
Ten years later -> China's GDP in 2013: $9.3 trillion
Consistent "double-digit" growth rates (and the strong appreciation of the Yuan) allowed us to increase our GDP by six times, in the span of only one decade.
Now our growth has slowed down, from an average of 10%, to around an average of 7.5%, which means we will still multiply our economy, just at a slower rate.
Due to the law of compound interest, 7.5% average growth is quite a lot less than 10% average growth. However, we should still be able to increase the size of our economy by three times in the next ten years at least, compared to the sixfold increase of the past decade.
That should easily take us to the #1 position in terms of nominal GDP (larger than 2nd place by a big margin), as long as we can maintain at least a 7% growth rate over the next decade. That is the hard part, but I am confident we can do it.
List of countries by past and future GDP (nominal) - Wikipedia, the free encyclopedia
China's GDP in 2003: $1.6 trillion
Ten years later -> China's GDP in 2013: $9.3 trillion
Consistent "double-digit" growth rates (and the strong appreciation of the Yuan) allowed us to increase our GDP by six times, in the span of only one decade.
Now our growth has slowed down, from an average of 10%, to around an average of 7.5%, which means we will still multiply our economy, just at a slower rate.
Due to the law of compound interest, 7.5% average growth is quite a lot less than 10% average growth. However, we should still be able to increase the size of our economy by three times in the next ten years at least, compared to the sixfold increase of the past decade.
That should easily take us to the #1 position in terms of nominal GDP (larger than 2nd place by a big margin), as long as we can maintain at least a 7% growth rate over the next decade. That is the hard part, but I am confident we can do it.
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