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Chapter 12. Trends and the Yuan > The Chinese Dragon and the Indian Tiger

The Chinese Dragon and the Indian Tiger

If you've read any major Western newspaper or magazine, you've probably seen a feature on China and the enormous economic potential that nation represents. BusinessWeek called it “the world's second-most important economy.”

From 1984 to 2004, China logged an average annual GDP growth of 10 percent. (The average rate of growth in developed countries has been about 3 percent.) From 1993 to 2004, exports grew on average 17 percent annually. Today China trails only the U.S., Japan, and Germany in total export volume. In 2003, China for the first time took in more foreign direct investment than the U.S.


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