China & the World Economy 5.1 and 5.2: China's growth, past, present and future Flashcards
• China’s growth since 1990 in graphs • Key features of China’s recent growth • Policy to promote growth • Explaining China’s past growth using the Solow Model • Using Growth Accounting to explain China’s growth • China’s future growth
1
Q
Describe & explain China’s GDP annual growth rate history from 1990
A
The Chinese government made a commitment in the 80s to growth, hench this graph. 15-16% growth rate is remarkable even in developing countries. There there was then a surge in growth rates. This is because China joined the World Trade Organisation (WTO), and was a major focus on how China became critical in the global economy. There was a further spike when the 2008 financial crisis happened, where global demand rose.
2
Q
A
