ABSTRACT
In the past 30 years the world has increasingly marveled at the economic achievements of China. During those 30 years the Chinese economy has been growing at a spectacular rate. The average GDP growth was over 9.7 percent from 1978 to 2009. Thanks to the curbed population growth, GDP per capita also increased rapidly at an average annual growth rate of 8.5 percent during the same period. Investment rates were constantly high and productivity improved steadily as well. The population in absolute poverty decreased from 75.7 percent of the population in 1980 to 12.49 percent in 2001. Virtually every indicator of the Chinese economy has shown significant improvement in the reforming years.
