China has redefined their 5-year plan to now say that their GDP will grow 7 percent as compared to the earlier stated 7.5 percent over the next 5 years. A big factor in this change is previously the country has increased its exports and now controls around 9 percent of the global export, however, to continue at its current growth rate would mean that by 2020 they would control 25% of the worlds exports which is impossible. The government in recent years has also seen more increase than was expected, but they feel that those expectations and reality will begin to align themselves.
http://www.businessweek.com/globalbiz/content/mar2011/gb20110317_990327.htm
1 comments:
So if they actually can't grow that much will they still overtake the US as most have predicted?
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