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

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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.

In this summary, you will learn

  • What factors drive and hinder the Chinese economy and
  • What roles China plays in the global economy.
 

About the Author

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

 

Summary

China is an economic powerhouse. Its manufacturing and financial tentacles extend around the world. Its decelerating growth in gross domestic product (GDP) will have widespread repercussions, though particulars are difficult to assess. Eight facts about the Chinese economy can help observers understand the implications of its experiences:

  1. “China was the world’s largest economy in 1820 – and is the second-largest economy today” – Its economy declined in the 19th century, as the West started to profit from industrial change. China began to gain renewed traction after 1978.
  2. “China...

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