China is projected to be the top contributor to global growth over the next five years, surpassing the combined growth of all Group of Seven countries. With 17% of global GDP, China produces 35% of the world's manufacturing output. China's government debt stands at 83% of GDP. The top 1% in China holds 31.1% of the country's wealth. China is expected to account for 21% of the world's new economic activity from 2024 to 2029. By 2075, China's GDP is forecasted to surpass that of the US, reaching $57 trillion. Despite a decline in its contribution to global growth, China remains a significant player in the world economy, with major financial institutions upgrading their GDP growth forecasts for the country in 2024.
Xi’s new industrial strategy means Western markets will become even more reliant on China. The result is a system where Russia-style sanctions on China will be near-impossible, writes @MiquelVilam 👇 https://t.co/sU0OBKaObm
‘Xi knows that industrial capacity is China’s main competitive advantage against the West.’ Manufacturing is key to Beijing maintaining its global power, argues @MiquelVilam 👇 https://t.co/sU0OBKaObm
Major global financial institutions have upgraded their forecasts for China’s GDP growth in 2024, a signal of surging international confidence in China’s economic outlook 📈 and a strong rebuttal to the “Peak China” rhetoric. ✅ ADB: 4.5% to 4.8% ✅ Goldman Sachs: 4.8% to 5% ✅… https://t.co/3nl4JuuKMC
Through #economic and other non-kinetic means, #China gained influence and leverage over #Europe and #NorthAmerica. The West must realise that China is not just a #military threat, says @Joanna_Siekiera. Watch the full episode of this show. VIEW HERE👉🏼… https://t.co/ocea27KaV8
Stephen Roach: "China accounted for just 24% of the cumulative growth in world GDP from 2020 to 2023. While still impressive and much higher than any other country’s, China’s contribution to global growth has fallen to pre-2008 levels." @SRoach_econ https://t.co/JBakEfTMOL
GDP projection by IMF & Goldman Sachs: By 2075, China and India are expected to overtake America's GDP. 🇺🇲 US GDP: 2024: $28.78 trillion 2028: $32.3 trillion 2075: $51.5 trillion 🇨🇳 China GDP: 2024: $18.53 trillion 2028: $27.4 trillion 2075: $57 trillion 🇮🇳 India GDP:… https://t.co/c3Q8wQk4JZ
It’s important to present analyses of China’s growth headwinds alongside these kinds of facts and projections. “China will account for about 21% of the world’s new economic activity from this year through 2029.” https://t.co/yA9vwfcIus
Share of wealth held by top 1% 🇧🇷 Brazil: 48.4% 🇮🇳 India: 41% 🇺🇸 United States: 34.3% 🇨🇳 China: 31.1% 🇩🇪 Germany: 30% 🇰🇷 South Korea: 23.1% 🇮🇹 Italy: 23.1% 🇦🇺 Australia: 21.7% 🇫🇷 France: 21.2% 🇬🇧 UK: 20.7% 🇯🇵 Japan: 18.8% (Global Wealth Report 2023)
Government debt as a share of GDP, 2023. 🇨🇳 China: 83% 🇮🇳 India: 81% 🇮🇩 Indonesia: 39%
China to outpace G7 as engine of global economic growth: Bloomberg https://t.co/oQYUi70Ybv
While the Chinese economy accounts for 17% of global GDP, it produces 35% of the world’s manufacturing output. At the root of this overcapacity is China’s savings-centric culture, writes @PKU1898’s Yang Yao. https://t.co/dReIq1r8ke
#China to outpace #G7 as engine of global economic growth: Bloomberg https://t.co/oQYUi70Ybv
China will be the top contributor to global growth over the next five years, with its share bigger than all Group of Seven countries combined, according to Bloomberg calculations using International Monetary Fund forecasts. #ChinaInWorldPress https://t.co/JY8phjGOlF