One of China’s leading economists says China could become the world’s largest economy by as soon as 2030, as well as join the ranks of high-income nations within the next decade.
Justin Lin Yifu (林毅夫), Chief Economist for the World Bank from 2008 and 2012 and founder of the China Center for Economic Research, said at the Boao Forum that China will maintain average annual GDP growth of 6% over the next 10 years, to join the ranks of high-income nations by 2025.
At the start of the current decade the Chinese government set the target of doubling 2010 GDP and per capita income levels by 2020, with Xi observing in 2015 that this would require average annual growth of over 6.5% throughout the full decade.
According to Lin China will potentially become the world’s largest economy by 2030, maintaining an annual global GDP contribution rate of over 30%.
