Tuesday 1 February 2011

CHINA’S QUALITY OF GROWTH

The Korea Herald

CHINA’S QUALITY TIME FOR DEVELOPMENT

Zhang Monan

The Korea Herald, February 1, 2011

China’s double-digital economic growth over the past years has helped it replace Japan as the world’s second largest economy.

In terms of gross domestic product China exceeded Japan from the second quarter of 2010 and its full-year GDP was more than 39 trillion yuan ($5.93 trillion), as indicated by statistics from the National Bureau of Statistics. That means China now has the second largest global economic status that Japan held for four decades. China’s percentage of the global economy also increased from 1.8 percent in 1978 to 8.5 percent in 2009.

However, despite its economic size, China’s economic quality and overall development are still far behind its neighbor and many economic indexes show there still exists a wide gap between them.

China’s per capita GDP is only one-10th of Japan’s. Statistics from the International Monetary Fund (IMF) show that China’s per capita GDP is only $4,412, far below Japan’s $42,431 and Japan does not include its overseas assets in its GDP value, a statistical method that makes its real national wealth underestimated.

(...) [artículo aquí]

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