IS CHINA’S ECONOMIC GROWTH A DANGER FOR OTHERS ECONOMIES?
IS CHINA’S ECONOMIC GROWTH A DANGER FOR OTHERS ECONOMIES?
Author(s): Laurenţiu Constantin Dragomir, Andreea Maria Ciobanu, George CiobanuSubject(s): Economy
Published by: Editura Universitaria Craiova
Keywords: max. economic growth; growth accounting; growth forecasts, development theories; human capital formation
Summary/Abstract: 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).
Journal: Revista tinerilor economişti
- Issue Year: 2008
- Issue No: 11
- Page Range: 86-91
- Page Count: 6
- Language: English