How to Respond to the Rise of China

November 24, 2019

China’s economic performance over the past 40 years has been nothing short of miraculous. In 1978, when Deng Xiao-ping became chairman of the Chinese Communist Party, or CCP, China’s GDP was about $150 billion in constant US dollars, according to the World Bank. Last year, 40 years after the transformation Deng initiated in China, its GDP in constant US dollars had soared to over $13 trillion dollars, a rate of growth of roughly 10% a year. In recent years, this growth rate has slowed to around 6%, but the overall rise of China’s economy has been simply astonishing.