Abstract
The rapid growth of China’s economy since its reform and opening-up is, to put it bluntly, a miracle. Across Chinese history, the last thirty years have been the period with the fastest economic development; globally, China has rapidly outpaced other countries in terms of the economy. China’s GDP in 1990 was USD404.5 bn, while the GDP in 2014 was 25.66 times that of 1990. This means that the yearly growth has been equal to China’s GDP in 1990. Similarly, in 2014, Guangdong province’s GDP exceeded USD1.1 tn alone. This number is equivalent to the whole country’s GDP in 2000.
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Cao, Y. (2018). The Prospect of Internationalizing the RMB. In: Strategies for Internationalizing the Renminbi. Research Series on the Chinese Dream and China’s Development Path. Springer, Singapore. https://doi.org/10.1007/978-981-13-0800-0_8
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DOI: https://doi.org/10.1007/978-981-13-0800-0_8
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