2014 | OriginalPaper | Buchkapitel
Introduction
verfasst von : Shujie Yao, Pan Wang
Erschienen in: China’s Outward Foreign Direct Investments and Impact on the World Economy
Verlag: Palgrave Macmillan UK
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China has achieved great economic success since the launch of the ‘Open Door’ policy in 1979. Up to 2009, China’s annual average growth rate of gross domestic product (GDP) was 9.9 per cent, which is around four times as much as the comparable figures for the rest of the world (2.9 per cent), the US (2.7 per cent), the UK (2.1 per cent) and Japan (2.3 per cent).
1
China surpassed Japan as the second largest economy in 2010, even though Goldman Sachs (2003) predicted that this would occur no earlier than 2016. To quote
Bloomberg
:
The country of 1.3 billion people will overtake the U.S., where annual GDP is about $14 trillion, as the world’s largest economy by 2027, according to Goldman Sachs Group Inc. chief economist Jim O’Neill … China overtook the U.S. last year as the biggest automobile market and Germany as the largest exporter. The nation is the world’s No. 1 buyer of iron ore and copper and the second-biggest importer of crude oil, and has underpinned demand for exports by its Asian neighbors. (Bloomberg, 16 August 2010)