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Understanding China’s Growth: Past, Present , and Future. Author: Xiaodong Zhu Lecturer: Fan Bao. The Past: Pre-modern Era. China was once a world economic and technological leader. The peak of China’s premodern economic performance is in the Song Dynasty ( circa 1200) - PowerPoint PPT Presentation
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Understanding China’s Growth: Past, Present, and Future
Author: Xiaodong Zhu
Lecturer: Fan Bao
The Past: Pre-modern Era
China was once a world economic and technological leader.
The peak of China’s premodern economic performance is in the
Song Dynasty ( circa 1200)
China lost its leadership position to Western Europe sometime
between 1500 and 1800
China actually fall behind during the Qing Dynasty ( 1644-1911)
The Past: Pre-reform periodIn 1978, China was one of the poorest countries in the world.
The real per capita GDP in China was only one-fortieth of the U.S.
level and one-tenth the Brazilian level.
The Present: The Economic ReformSince the reform, China’s real per capita GDP has grown at an
average rate exceeding 8 percent per year
China’s real per capita GDP is now almost one-fifth the U.S. level
and at the same level as Brazil.
Why so different
The Future of China’sEconomic GrowthWill China be able to continue its rapid growth?
When will China catch up the U.S.?
Thank you!
Questions?