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8 Things You Need to Know About China’s Economy
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8 Things You Need to Know About China’s Economy

Jonathan Eckart
World Economic Forum, 2016
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8

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Recommendation

The slowing of the Chinese economy is certain to have a global impact, considering its size and interconnectedness with the rest of the world. China faces challenges, although project specialist Jonathan Eckart of the World Economic Forum still expects China to have the largest economy in the world by 2030. In this concise article, he provides eight insights about the Chinese economy to consider in understanding the trajectory of its future growth and effects on the wider world. getAbstract recommends this focused, informative look at China to policy makers, economists, executives, investors and other China watchers.

Take-Aways

  • China is experiencing a decline in gross domestic product (GDP) growth, after its economy expanded almost 10% per year for more than three decades, “lifting 800 million people out of poverty.”
  • The Chinese economy’s growth was a mere 6.7% in early 2016, stemming from a drop in manufacturing and construction, a shrinking labor force, and a ceiling on the benefits of “knowledge transfers” from abroad.
  • Services, primarily financial, are now the largest contributors to GDP and employment.

About the Author

Jonathan Eckart is a project specialist with the World Economic Forum.

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