More recently, over the last 20 or so years, the buzz has been all about the Chinese economy possibly eclipsing the U.S. It is the middle class that sustains economies, and the Chinese middle class, which has grown from 3% of the economy in 2000 to over 50% in 2018 is simply not robust enough. Based on that definition, even some Chinese middle class are living in poverty. Selling those goods externally is what sustains the Chinese economy. According to Axios.com, the Chinese economy grew 5.2% last year.

Source: CNN May 23, 2024 10:48 UTC