Modern China is the world’s largest exporter of goods and the world’s second-largest exporter of services. Prior to 2015, it also showed the world’s highest GDP growth rate: 10 per cent per year. In 2019, China’s economic growth slowed down to the level of 1990 due to a trade war with the US, but still it remained exceptional by Western standards: 6.1 per cent per year.
The current coronavirus outbreak threatens to make matters worse in China, but also jeopardises the operation of the world’s largest corporations that own production facilities in the affected zone. This is yet another proof of China’s role in the modern world.
Read the full article on Valuewalk.