China is the world’s populous country with a population of about 1.4 billion in 2018. China became a communist country in 1949. Since the 1980s China adopted “market socialism” form of government which involves one-party control of the government (communism) and capitalism for the market. This unique form of government has unshackled the potential of the economy leading to China becoming the second largest economy in the world  secondly only to the US. Similar to the explosive growth of Asian Tigers China’s economic growth can be called a miracle. In 2018, China’s GDP per capita stood at $18,200 based on Purchasing Power Parity (PPP) according to CIA Factbook.

The below infographic some of the other important stats on China’s economic achievements:

Click to enlarge

Source: China Daily