Performance
GDP totalled US$5,878·6bn. in 2010, the second highest behind the USA. China replaced Japan as the second largest economy in 2010. It is forecast that around 2020 China will overtake the USA to become the world’s largest economy. As recently as 2000 the US economy was around eight times larger than China’s. Real GDP growth rates (based on IMF statistics):
| 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | ||
| 8·3% | 9·1% | 10·0% | 10·1% | 11·3% | 12·7% | 14·2% | 9·6% | 9·2% | 10·3% |
GDP growth in 2011 was 9·2% according to the National Bureau of Statistics. In spite of high growth in recent years, China’s GDP per capita at purchasing power parity was $5,383 in 2007 compared to the very high human development average of $37,272.
