At a time when China has become, by all accounts, the second most important country in the world, many ask whether it should still be considered a “developing” country. China has been playing economic catch-up since before the proclamation of the People’s Republic in 1949. Demographic catch-up, too. China‘s total urban population has quadrupled since the 1970s; the country is now 60% urban with a GDP per capita of around $10,000. No one doubts the massive economic and demographic change that has occurred in China in recent decades, even if many do dispute the prevailing wisdom that the ruling Communist Party should get all the credit.
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