China facts

1. Chinese per capita income in 2003 is roughly seven times higher than in 1978.

2. In 2002, in purchasing power parity terms, China accounted for twelve percent of global gdp.

3. The figure drops to only four percent, if we calculate real gdp by exchange rates rather than purchasing power parity.

4. In 1952, Communist China claimed to comprise five percent of global gdp.

2. China accounted for one-third of world economic product in 1820. The figure is from work by Angus Maddison.

These facts are drawn from Tuesday’s Financial Times, an Op-Ed entitled “China is Not Racing Ahead, Just Catching Up.”

Addendum: Bruce Bartlett refers me to Maddison’s data.