China’s Growth

The average GDP growth for world economies has been in the three percent to five percent range over the last 20 years. This is considered a very good growth level. China’s growth rate has hovered around 10% over the last 20 years. This is why people cite China’s growth story. The country has transformed its economy into the world’s leading manufacturing hub, which has meant a large migration of people from the rural countryside to the cities. It is a very similar experience to the U.S. of the 1920s, where the U.S. experienced tremendous growth and its industrial revolution. Now it’s China’s turn.