China – World’s Largest Economy

The Economist Magazine projects that China will shortly   overtake the US as the world’s largest economy.  China has transformed itself from a centrally-planned closed economy in the 1970s to a manufacturing and exporting hub over the years. Since it initiated market reforms in 1978, the Asian giant has achieved economic growth averaging 10% annually (though it’s slowed recently) and, in the process, lifted almost half of its 1.3 billion population out of poverty and become the undisputed second-largest economy on Earth. Continue reading “China – World’s Largest Economy”