October 18, 2021
China gets away with a lot these days in Hong Kong, Xinjiang, and elsewhere. That's because over the past decade, its economy has experienced explosive growth, making it an indispensable trading partner for almost every country in the world. At the same time, China has been expanding its share of the global economy, and is now set to overtake the US as the world's biggest economic powerhouse in the near term. We take a look at China's annual growth rate and share of the global economy based on GDP over the past decade.
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For China, hitting its annual growth target is as much a political victory as an economic one. It is proof that Beijing can weather slowing global demand, a slumping housing sector, and mounting pressure from Washington.
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