chapter
4 Pages

Introduction: What Does the Continuous Decline of the Two Ratios Imply?

Since the 1980s, China has entered the stage of economic take-off, I and has experienced sustained, high-speed economic growth. According to the statistical reports of the World Bank,2 between 1980 and 1990, the annual growth rate of China's gross domestic product (GDP) was 9.5 percent.3 The average annual GDP growth rate for all countries in the world for the same period was 3.2 percent, with highincome countries averaging 3.l percent, medium-income countries recording an average annual growth rate of 2.5 percent, and other lowincome countries (not including China and India) coming in at 3.9 percent. China, then, belongs to the category of countries with the fastest economic growth in the world, with an annual growth rate equal to about three times the average level of the world's nations at large.