CKGSB website

CKGSB Knowledge

China’s GDP: The Big Number

by CKGSB Knowledge

January 21, 2015

In 2014, China’s GDP grew at 7.4%, the slowest in the last 24 years. A look at China’s GDP as a proportion of global GDP over the years.

China’s GDP (gross domestic product), and the rate at which it changes, is one of China’s most closely-watched statistics; the base from which so many economic and business decisions are made. The breakneck growth in GDP that China has achieved in the past three decades has often reached double digits and continues to define perceptions of its role and status in the world. But as the economy now slows, there is hand-wringing over the government’s target of annual GDP growth, and how it can be sustained.

Nonetheless, China is now the world’s largest economy according to the IMF when measure by purchasing power parity (the US represents 16% of the global economy). This is not the first time the country has been in this position–China has had a huge share of the world’s GDP from time immemorial, probably peaking in the early 19th century. However it still lags behind in other measures, and extending the fruits of this re-emergence to the Chinese people is now of the government’s main challenges.

(Click to enlarge)

You may also like

Liquid Diplomacy

Baijiu has been an integral part of Chinese culture for centuries, but manufacturers need to attract a new generation to the drink.

by Mable-Ann Chang | Mar. 7 2023

Huawei or the Highway

The last few years have not been kind to Huawei and questions remain about how the company moves forward.

by Patrick Body | Mar. 3 2023

Growing Disconnect

China’s relationship with Europe is at an all-time low and compromise is needed to improve relations.

by Patrick Body | Mar. 2 2023

A Global View on China’s Tech Innovations

China has become highly innovative in recent decades and is set to become even more so due to geopolitical changes.

by Edward Tse | Feb. 28 2023