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More Work Needed to Change China’s Economy from “Large” to “Strong”

Xinhua recently published an article reviewing the Chinese economy in 2009. The article started with mentioning a strong GDP increase of 8.7% which translates into RMB 33.5 trillion. “Almost the beacon that shines and leads the world economy,” the author claimed. He believed China’s accomplishments symbolized the fact that China is now a major economy in the world. This may get “some old capitalist countries” really worried.

However, the article also reminded that the Chinese per capita GDP is still below US$3,000, which is far behind the countries with tens of thousands of dollars for the same number. Therefore, any attempt that overstates China’s actual economic strength to increase Chinese responsibilities is unfair. As a rising world power, China needs to turn the economy from a “large” one to a “strong” one.

Source: Xinhua, January 25, 2010