China’s Per Capita Income Rises 56 Places In 25 Years

The International Monetary Fund (IMF) predicts that by 2025, China’s per capita income will rise by 56 places in the world compared to the beginning of this century.
According to the report, according to the World Economic Outlook data published by the IMF last month, by 2025, China’s per capita income ranking will rise to 70th, closer to the richest third of the countries.
It is predicted that by 2025, the per capita gross domestic product (GDP) of this Asian power based on purchasing power parity will reach US$25,307.
The report also said that Jim O’Neill, the former chief economist of Goldman Sachs in the United States, who first proposed the concept of “BRIC countries” in 2001, said that by the 1930s, the economic aggregates of the BRIC countries may exceed the G7. He said: “This is almost entirely due to China’s growth, and India will also contribute a small part.”
The report pointed out that overall, the per capita GDP of Asian developing countries during this period will increase by 5 times. In contrast, income growth in Latin America and the Caribbean and the Middle East has even less than doubled.
According to reports, in the G7 economies, per capita GDP will increase from US$31,471 to US$64,582 in 2025. Italy is the only G7 member whose ranking is expected to fall sharply, dropping from 21st to 35th.
The United States as a whole will maintain its global ranking. In 2000, the per capita GDP of the United States was 36,318 U.S. dollars, ranking 11th, and is expected to rise to 9th by 2025.
According to the report, China’s per capita GDP roughly doubled from 2000 to 2006, and doubled again in 2013. It is expected that China’s per capita GDP will double again by 2024-in the first 25 years of this century, The average annual growth rate reached 9.1%.