The IMF has increased the projected GDP growth for China to 6.7 percent in 2017 and average annual growth of 6.4 percent between 2018-20. Previous predictions from the IMF had China at 6.2% or less GDP growth from 2018 to 2020. Based on the lower projections the IMF had China with purchasing power parity GDP increasing for $16600 now to $23960 in 2022. If China matched the improved GDP growth then per capita GDP would be about $24800 in 2022.
It would still another 10 to 15 years beyond 2022 (2032 to 2037) for China to move up from slightly above the level of Mexico per capita PPP GDP to reach the level of Russia or Portugal per capita PPP GDP.
Overall China national PPP GDP is projected to be nearly 50% more than the USA in 2022. The expected better performance would put Chinas overall PPP GDP at over $35 trillion.
If China were to catch up to Russia or Portugal on per capita PPP GDP in the mid-2030s then China’s overall PPP GDP economy would be more than double the US PPP GDP. China’s economy would also be larger on a PPP GDP basis than the USA, Europe and Japan combined.
China, Macau and Hong Kong PPP GDP are currently at the level of the USA and Germany’s combined PPP GDP.
By 2022, China, Macau, and Hong Kong PPP GDP will pass USA, Germany, Japan and Sweden combined.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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