capita gdp: The current 16,676 per capita GDP level is already higher than Brazil's when adjusted for purchasing power, according to a Bloomberg analysis of International Monetary Fund data, according to The Japan Times. Importantly, this rise has translated into tangible benefits. Thanks to economic reforms put in place by late leader Deng Xiaoping from the '70s that set off rapid industrialization and urbanization, the China miracle is set to continue with per capita GDP seen rising to 64th out of 166 countries by 2022, up from being the 133rd-poorest in 1992 on par with Haiti and with over half its population living on less than 2 a day. The Chinese live six years longer on average and have full access to electricity, less than 2 percent of the population live under the global poverty line and the average calorie deficit has been cut by more than half, according to World Bank data going back to 1992. The country's ongoing shift from a manufacturing-based economy to a services-driven one will likely play a part in this, as may the recent end to its one-child policy. Over the next five years, China's per-person economic growth will see it bypassing the likes of Mexico and oil-rich Azerbaijan, putting it just shy of Argentina.
(news.financializer.com). As
reported in the news.
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