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  • Beijing Review

    A NEW START

    Jan 30, 2020 4 minutes
     By Michael Zakkour
    Copyedited by Rebeca Toledo

    The author is a U.S.-based consultant and op-ed contributor to Beijing Review

    China’s economy grew to more than $14 trillion in 2019, continuing to close the gap with the $21-trillion U.S. economy, but the key takeaway from the National Bureau of Statistics report was that its per-capita GDP hit $10,000 for the first time.

    According to a 2018 World Bank report, there were 1.6 billion people with per-capita GDP of $10,000 or above globally. Now, China’s achievement will nearly double that number.

    The $10,000 milestone, released as part of China’s official 2019 economic data on January 17, is an indication that productivity and consumption driven by higher salaries have improved in recent years and is even more

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