Because of China's situation as the world's second largest economy, predictions of their economic future is always under discussion. One day you may hear reports stating that China's economic growth is drastically losing speed and the next day's other reports claim the opposite.
So what is the most likely outcome then? Despite we can't give an exact answer we will try to sort out the most frequent prognosis to give you a somewhat clear image of the economic situation in China.
The annual percentage growth of GDP in China is estimated to be 7-8% for the forthcoming years in comparison to 2-3% in America. This is slightly lower than China have experienced the recent years but it is still very good numbers. With this development China is expected to pass U.S. and become the world's biggest economy between 2018 and 2021.
China's possibilities for further economic gains is quite obvious when considering the fact that the country is ranked as 93rd in the world in terms of GDP per capita. Just to equal the current world average, China needs to increase the GDP per capita by 32%, and to reach Europe's average level it has to more than triple. Even though the country's growth rates won't be forever, these numbers shows the huge potential of China as a dominant economic superpower.
With these growth numbers in terms of potential and expectations, we are optimistic about the future of the Chinese market. If you are interesting in starting up a business in China, please contact us or visit our business registration page for futher information.
Sources: economist.com, forbes.com, worldbank.org