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The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2017 has been the world's largest economy when measured by purchasing power parity (PPP).
The top 3 largest economies in Asia are China, Japan and India. China is the largest economy in Asia, ... 2024 GDP (nominal) in billions — Asia: 42.72 trillion: 1
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
The world’s second largest economy slowed from 4.7% annual growth in the previous quarter and falling short of the official target of “about 5%” growth for 2024, a figure that some analysts ...
For decades since China re-opened to the world in 1978, it was one of the fastest growing major economies on Earth. Between 1991 and 2011, it grew by 10.5% annually.
Gao's assessment of China's economy comes as the country struggles to recover from pandemic lockdowns. The world's second-largest economy is facing multiple issues, including a real-estate crisis ...
The first set of data on the left columns of the table includes estimates for the year 2023 made for each economy of the 196 economies (189 U.N. member states and 7 areas of Aruba, Hong Kong, Kosovo, Macau, Palestine, Puerto Rico, and Taiwan) covered by the International Monetary Fund (IMF)'s International Financial Statistics (IFS) database ...
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.