China's Contribution to World Economy

At present, the world economy is faced with increasing factors of uncertainties and slow economic recovery, the vigorous, sustained and rapid growth of China's economy has become a flash point in world economic development and has received close attention from the international community. The UN "World Economic Situation and Prospects for2003" published its comments, saying that China has become the "locomotive" for Asian economic growth. This saying may not be very exact, it nevertheless indicates that China is making ever-greater contributions to the world economy.China's rapid economic growth has made important contribution to the development and prosperity of the world economy, especially to the world economic stability and recovery in recent years. Over the past 20-odd years of reform and opening up, China has witnessed sustained, rapid economic growth, with the average annual growth rate of GDP in the 1978-2001 period reaching 9.3 percent, 8 percent in 2002 and the total GDP volu...