Event Details
When China started its opening and reform in 1979, its GDP was merely 1.5% of the world's total. In 2021, China's nominal GDP rose to about 20 trillion USD, which, by EIU's estimation, equals about 19% of the world GDP. According to forecasts from various international research institutions, China will become the world's largest economy by the end of this decade. At the sector level, the China market is already the world's largest one for certain sectors such as automotive. For other sectors such as consumer goods, China will become the world's largest market as early as 2025.
Looking ahead, the Chinese economy is facing both new opportunities and new challenges. China's development strategy has also been adjusted, paying more attention to social development instead of focusing exclusively on GDP growth. Since China's economic size and growth are important to MNCs for properly positioning China in their global strategies, it is critical to reflect on the driving forces behind China's economic rise in the last four decades and, more importantly, examine its future growth prospects.
In this lunch event, Professor Tian Zhu from CEIBS will present his views on the primary factors that contributed to China's economic rise, drawing insights from his new book "Catching Up to America: Culture, Institutions, and the Rise of China". Professor Jun Zhang (Dean of the School of Economics at Fudan University) and Dr Martin Raiser (the World Bank's Country Director for China and Mongolia and Director for Korea) will join the roundtable discussion to share their understandings about China's economic growth history and future outlooks.
Please note that this event is limited to senior-level executives and per invitation only. If you are not an existing member of The Economist Intelligence Corporate Network, but would like to learn how you can attend our events, please contact us.