The Economist/Al Jazeera English title China’s economy is growing faster than the world’s article China’s population is growing more rapidly than the global average, a new report has found.
The country has about a quarter of the globe’s population but the average of the 25 countries that reported data was almost three times that of the United States, according to the report, The China Economy: How Fast?
By Population and Area.
The report, released on Monday, found that China is growing by 7.4% per year over the past decade, more than double the global rate of 0.2% per decade.
That is an impressive rate, according the report.
The US was a distant second, with a growth rate of 3.6% per cent, followed by Japan, at 3.1%.
The report also showed that China’s per capita GDP grew by 1.4 percentage points from $7,929 in 2010 to $8,837 in 2020, and that the number of adults aged between 25 and 64 in China increased by 14% from 7.3 million in 2010, to 13.6 million in 2020.
China’s growth is being driven by more people working, and people moving to cities and to other parts of the country, which has increased demand for housing and services, and also the rapid urbanisation of some of the poorer areas.
The government also has seen a large increase in the use of renewable energy, which it has been using to grow its economy.
In 2020, China’s energy use was 9% higher than in 2010 and its carbon emissions were 17% lower than in 1990, the report said.
In its report, the Economist noted that China had become the world leader in carbon dioxide emissions from all sectors, but its coal use was the most environmentally destructive, with more than 3 million tonnes of the greenhouse gas emitted in 2020 compared to just 723,000 tonnes in 1990.