Posted by: Francesca Di Meglio on October 1, 2009
In honor of the sixtieth anniversary of the founding of the People’s Republic of China on Oct. 1, 2009, IMD unveiled a special section of its Web site on China and its flourishing economy. At the school’s Web site, you will find videos and articles (in English and Chinese) about how far China has come economically in the last 60 years.
Today China is the world’s third most powerful economy. China had practically no foreign currency reserves 30 years ago, and stands at about $2 trillion today, according to the report on IMD’s site. The video might be difficult or slow on some browsers, but the special report features lots of interesting information – from a history lesson to stats on China’s economy.
"China’s National Bureau of Statistics notes that the Chinese economy in 2008 is nearly 67 times larger than it was in 1979. According to the 2009 IMD World Competitiveness Yearbook, per capita GDP has gone from $578.11 in 1995 to $3,295.92 in 2008," reports Winter Nie, professor of Operations and Service Management at IMD. "Surely China has its many challenges ahead. But there is indeed a good reason to pause and celebrate these remarkable economic achievements."