China's economy growing 5 times as fast as U.S.'
These three major economic centers together account for 61 percent of the world's GDP at market exchange rates. No other economies have remotely the same impact on the global economy, John Ross writes for China.org.cn.
China continues to be by far the most rapidly growing of the major international economic centers. China's total GDP in the last year grew over five times as fast as the U.S., and China's per capita GDP growth was over 14 times as fast as the U.S.
The chief cause of the slowing of the world economy in the last year is the slowdown in the U.S.
Compared to the beginning of 2015, EU GDP growth has not fallen at all, China's declined by a mild 0.3 percent but the U.S. decelerated by 2.1 percent.
By far the most severe slowdown in the world economy has therefore been in the U.S. Only huge, and therefore highly implausible, revisions in U.S. data would be required to alter this pattern.
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