The Strength of the Chinese Economy in 2024 and its Significance for the Future World
The Strength of the Chinese Economy in 2024 “China’s role in the world economy is substantial. It accounts for around 10% of world trade and stock market capitalization, around 18% of GDP (at market exchange rates), around 16% of world oil demand, and over a quarter of world broad money,” according to Oxford Economics. The robust growth in China is based on a cocktail of state-driven investment, supply-side stimulus, and a boost in “green” manufacturing, said its lead economist Sean Metcalfe. The continued government stimulus concentrated in green equipment and high-tech manufacturing is not only part of the economy’s shift…