China: Growth and Economy

china: Experts noted on Sunday that the Chinese economy remains the single largest contributor to world GDP growth and that the country will retain that role in the decade to come, according to Global Times China. Despite some differences in economists' calculations, it is agreed that about one third of world growth is contributed to by China. Photo CFP China posted a 6.7 percent annual GDP growth rate in 2016, the National Bureau of Statistics said on Friday. China remains the single largest contributor to world economy and global economy will suffer greatly should Chinese economy encounter major hurdles, Liao Qun, chief economist with China CITIC Bank in Hong Kong, told the Global Times Sunday. Based on the 3.1 percent growth rate expected by the IMF, this would mean that China would contribute to nearly 39 percent of total world growth. In an August 2016 Project Syndicate article, Stephen S Roach, former chairman of Morgan Stanley Asia and the firm's chief economist suggested that if China achieved a GDP growth rate of 6.7 percent in 2016 that would account for 1.2 percentage points of world GDP growth in the year. (news.financializer.com). As reported in the news.