China plays a positive role in world economic growth
- By Zhang Yongjun
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E-mail China.org.cn, March 1, 2016
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Farmers are seen busy working on farmland as the plowing and sowing season comes along, in Yongning County, northwest China's Ningxia Hui Autonomous Region, Feb. 29, 2016. [Xinhua/Wang Peng] |
In a recent period of time, voices from some foreign media and public figures have complained that economic slowdown in China has considerably affected the global performance.
However, with the release of statistics on the economic performances of both China and the world as a whole, the criticism proves wide of the mark.
With overall economic growth of 6.9 percent in 2015, China remains the top national contributor to the world economy. Indeed, the figure released by the National Bureau of Statistics has drawn numerous positive reviews.
Still, some media have focused on it being "a record low in the past 25 years," which, to me, seems a superficial statement lacking comprehensive analysis.
First, following the expansion of China's economic scale, any slowing within a certain range is merely responding to the normal rules of national and regional economic development.
Second, in spite of the decline, China remains a significant performer, having narrowly lost out India's 7.6 percent, while being far above the approximately 2 percent gains achieved by the developed economies, such as, the United States, Britain, Germany and France. The International Monetary Fund (IMF) estimates world economic growth in 2015 at 3.1 percent, less than half the Chinese figure.
Third, despite the slight decline in growth, China's contribution to the world remains large. Based on the IMF figure of 3.1percent, it means the Chinese economy makes up 30 percent of the global economy, higher than the contribution of the United States as well as India, its good 2015 performance not withstanding.
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