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China Facts: Many trends that appear global are in fact mostly Chinese

There is one economic metric on which China already ranks first. Measured at market exchange rates, China's GDP is still 40% smaller than America's. However, on a purchasing-power-parity (PPP) basis, the Chinese economy became the World's largest in 2013. Since the start of the financial crisis in 2008 China has accounted for 45% of the gain in World GDP. In 1990 some 750m Chinese people lived in extreme poverty; today fewer than 10m do. That represents two-thirds of the World's decline in poverty during that time. China during the same period have also beefed up its military investments. PLA accounts for over 60% of the total increase in global defence spending since 1990.*) I guess that is the real reason for rationale behind the trade war with the US.   *) 

 

*) the Economist 27th October 2018

 

 

 

 

 

 

 

 

 

 

 

 

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Hans Henrik Pontoppidan
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