World Bank: China's Strongest Economy in 2030
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The World Bank estimates that China could replace the U.S. as the world's largest economy by 2030. However, the communist state government asked to enforce a number of economic reforms to maintain the momentum.
In a thick 468 page special report on China, which was launched February 27, 2012, the World Bank revealed that China has experienced an annual growth of 10 percent in the last three decades. The present status of the country's second largest economy in the world it also managed to raise over 500 million people out of poverty.
However, at present, China's economic growth is not at first. The World Bank estimates that China's economic growth in 2011-2015 was 8.5 percent, then back to slow to about 5 percent during 2026-2030.
Nevertheless, China will surpass the United States. "Even though economic growth is predicted to slow down, China will continue to replace the U.S. as the world's largest economy by 2030," the report titled "China 2030 Report."
Order to keep the decline in economic growth is not up dramatically, the World Bank presents six recommendations to China. Of which reinforce market-based economy and stimulate innovation.
The World Bank also suggested China to seriously implement environmentally friendly policies, or go green. Beijing also asked to provide social security for all citizens. Finally, China was asked to improve the fiscal system as well as to seek a mutually beneficial relationship with the international community
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Posted by Anggo82
on Wednesday, March 07, 2012. Filed under