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Massive Population Lifts Nation's Growth
China's rise as the world's second-largest economy highlights a new postindustrial reality: Population counts as much as productivity in determining economic power.Since the industrial revolution, that hasn't been the case. The productivity of workers in the U.S., Britain, Germany and Japan not only made those countries rich, but it also made them the world's largest economies despite having far smaller populations than China and India. China's rapid growth over the past 30 years has pulled hundreds of millions of Chinese out of poverty and turned China into the world's factory floor. But China's per capita gross domestic product is still just $4,300, according to the International Monetary Fund. It is largely because of the country's population of 1.3 billion that China is moving to the top ranks of economic powers. On Monday, it formally surpassed Japan when Japan reported its 2010 GDP. Posted by: tipper 2011-02-14 |
| http://www.rantburg.com/poparticle.php?ID=316066 |