Is China’s economic growth a danger for others economies?
George Ciobanu, Laurenţiu Constantin Dragomir, Andreea Maria Ciobanu
Abstract
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George Ciobanu, Laurenţiu Constantin Dragomir, Andreea Maria Ciobanu
Abstract
Open-access reader
Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms between 2012 and 2015; by 2025, China is likely to be the world's largest economic power by almost any measure. The extrapolations are supported by two types of considerations. First, China’s growth patterns of the past 25 years since the beginning of economic reforms match well those identified by standard economic development and trade theories (structural change, catching up, and factor price equalization).
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Extrapolating past real GDP growth rates into the future, the size of the Chinese economy surpasses that of the U.S. in purchasing power terms between 2012 and 2015; by 2025, China is likely to be the world's largest economic power by almost any measure. The extrapolations are supported by two types of considerations. First, China’s growth patterns of the past 25 years since the beginning of economic reforms match well those identified by standard economic development and trade theories (structural change, catching up, and factor price equalization).
Key concepts: Economics, China, Purchasing power parity, Purchasing power, Economic expansion, Economic power, Chinese economy, Real gross domestic product