GDP growth rate of China is on a rising trend since
the year 2001 of 7.5% to 11.4% in 2007. This trend
is expected to maintain at this rate as China has a
huge potential for development. Comparing with other
more developed countries, China’s growth rate is
remarkable in terms of both value and trend. Only
China has a double-digit growth rate while the
remaining countries have a rate that is
significantly lower relative to China. Being
developed countries, they have reached the stage of
a mature economy. However, this is not the case for
China; as its low production cost and vast market
potential provides the basis for its accelerated
growth.
Below is the chart of GDP growth rate of United States, Japan, German, China, United Kingdom and
France (top largest countries in terms of GDP) from year 1992 - 2009:
Comparing with the rest of the developed countries, China growth rates has
surpassed Spain, Canada, Brazil, Russia and India as well from year 1992 – 2007,
with the exception of year 2000, in which Russia has a growth rate of 10%, while
China has a growth rate of 8%. These 5 countries have much closer growth rates
relative to the above 5 countries. A country that is comparable to China would
be India. Similar to China, India has a growing trend in its GDP growth rates.
In 2007, China has a growth rate of 11.4% while India has a growth rate of 9.4%.
There may be possibility that India’s growth would undertake China’s GDP growth
in times to come due to the differences in the structures of both economies.
Below is the chart of GDP growth rate of China in comparison with that of Spain,
Canada, Brazil, Russia and India from year 1992 - 2009:
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