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China’s Evolving Political and Economic System

Pekingology

CHAPTER

China's Economic Potential

Traditional metrics of measuring a country's economic power include indicators like the size of the economy, GDP, industrial output, or volume of world trade. China is the world's second largest economy with nominal GDP of nearly $18 trillion in 2022. The most meaningful measure of relative economic power in the global economy these days is looking at which countries have multinationals that are dominating the highest end of the global value chain.

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