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China’s Economic Miracle Is Ending
The China miracle is ending. That miracle consisted of very exceptionally strong growth of the economy. By 2010, GDP per capita, adjusted for inflation, was 17 times higher than it had been in 1980. Consider that if living standards doubled in a generation, that would be pretty cool. But a 17 times increase? That can be called a miracle.
China’s growth has slowed in recent years, partly due to maturity. Extremely poor countries have the potential to grow rapidly. As they approach the level of developed countries, growth is harder and thus slows. See, for example, China Is Too Mature For Rapid Economic Growth.
China s Economic Miracle Is Ending forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.