Posted 11/22/2023, 2:19:08 PM
China's Economic Ascent Slows as Share of Global GDP Falls for First Time Since Mao
- China's economic rise is reversing - its share of global GDP is falling for the first time since Mao era
- China's share of the world's workers is shrinking, meaning smaller share of growth
- After stagnating under Mao's dictatorship, China opened up in 1980s and economy took off
- China's share of global economy rose from 2% in 1990 to 18.4% in 2021 - fastest rise ever
- China's position as global economic superpower that has defined last 50 years may be ending