For the last 20 years China has been the fastest growing economy in the world. With an average annual growth rate of 10%, its meteoric rise has been impressive. It is estimated that by 2030 — maybe even earlier — it will overtake the United States as the world´s largest economy.
China’s Economy Forecast
Still, China’s economy is slowing. There are concerns that its wild housing market is in a bubble, and that companies are massively indebted. This is fueling doubts on China keeping the boom going for longer.
During its rise, China has managed to lift 500 million people out of poverty, creating an emerging middle class with increasing purchasing power. Its large economy is morphing from a manufacturing economy to a service orientated economy. With a large population and an exploding middle class hungry for new services, there are still plenty of opportunities to be had in China.
China Economy Impact on Australian Economy
China is the big powerhouse fuelling Australia’s economy. Will it keep booming? Will it collapse? What are the best investment opportunities coming out of China? And how will this affect Australia and your wealth? Find out here.