Hong Kong
CNN Business
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When Xi Jinping came to power a decade ago, China had just overtaken Japan to become the world’s second largest economy.
It has grown at a phenomenal pace since then. With an average annual growth rate of 6.7% since 2012, China has seen one of the fastest sustained expansions for a major economy in history. In 2021, its GDP hit nearly $18 trillion, constituting 18.4% of the global economy, according to the World Bank.
China’s rapid technological advances have also made it a strategic threat to the United States and its allies. It’s steadily pushing American rivals out of long-held leadership positions in sectors ranging from 5G technology to artificial intelligence.
Until recently, some economists were predicting that China would become the world’s biggest economy by 2030, unseating the…
