Aug 02, 2022
In Welcome to the Forum
If by 2032, China's economic growth rate, as expected by Lin Yifu, maintains a good data of 5% to 6%, then of course it will be no problem to break through the middle-income country trap. As far as the assessment of economic forecasting agencies is concerned, although Lin Yifu's expectations are partly overly optimistic, there is no problem with China's sustained and stable growth. According to the estimates of Statista, a German private economic data statistics company , China's GDP economic growth from. According to popular database this estimate, China's per capita GDP will break through the middle-income trap around 2024, reaching over US$13,000. However, Statista's estimates should not take into account the impact of the recent crisis in China's real estate industry's debt non-performance, due to the limited production capacity of the manufacturing industry due to the lack of electricity, and the restraint of private consumption due to the resurgence of the domestic epidemic in China. According to Bank of America's latest China GDP assessment (announced on October 19), taking into account the impact of China's power shortage and other factors, the GDP growth rate forecast for the next three years has been lowered from the original 8.0%, 5.3% and 5.8%, down to 7.7%, 4.0% and 5.3%.