Overview of China's Economy
by Chong Loong Charles Chaw
The reform that started in late 1978 has turned China into the fastest growing major economy in the world. In 2008, China’s GDP grew 9.0% and reached RMB 30.1 trillion (US$4.4 trillion ). In the same year, China’s economy was the third-largest economy in the world, 20% larger than Germany’s. China is expected to replace Japan as the world’s second-largest economy in 2010.