The Adjustment of Economic Structure and Guangdong’s Economic Growth: Past Successes and Future Challenges

Wenbiao Zhang

Chapter 1 in China’s Economic Powerhouse, 2003, pp 1-19 from Palgrave Macmillan

Abstract: Abstract China’s economic reform and the opening of its doors to the outside world have resulted in the phenomenal growth of its output. Gross domestic product (GDP) growth has accelerated, so that between 1984 and 1999 real GDP grew by 9.4 per cent annually according to Chinese statistics. This growth rate is not unprecedented, and in fact mimics rather closely earlier East Asian success stories. Japan’s GDP grew by 10.4 per cent annually between 1950 and 1973, while in both South Korea and Taiwan GDP grew by about 9 per cent annually between 1950 and 1990. China’s real distinction is its vast size and enormous population, which make it more difficult to sustain a high growth rate.1

Keywords: Gross Domestic Product; Gross Domestic Product Growth; Real Gross Domestic Product; Main Bank; Enterprise Group (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50866-8_1

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DOI: 10.1057/9780230508668_1

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