It’s amazing when one looks at China’s recent growth, becoming the world’s second largest economy by nominal GDP. This industrialized country is the world’s fastest growing major economy with astounding growth rates of 10% on average each year.
BMO chief economist Sherry Cooper said, “commodity demand might weaken further as growth prospects in China, India and Brazil have dimmed and Europe is still mired in austerity induced recession and debt overload.”
That being said, how powerful actually is China’s influence over other countries? Despite its massive economy, and fast growth rate, China is seen as a poor country with a big population. GDP per capita does not mean everything. But it is a broad indicator of both a country’s standard of living and level of economic development.
