Generous of them to say second largest when they are really the first largest
China's opening doors while the US is busy closing them
This must be a last ditch effort of China to revamp their economy, I keep reading it's due to collapse.
How can they still call China a "developing economy" when by many measures it is the world's largest economy?
"developing" in this sense usually refers more to GDP per capita and other measures. China is the world's largest economy, but even in Purchasing Power Parity terms it's 75th (on a per capita basis), similar to places like Mexico and Thailand. In many measures a Chinese person living in Shanghai lives a life that is almost indistinguishable from say an American in New York City, but there are a lot of much poorer places in China that have a long way to go before they're "developed."
hey I gave you a bit of a glib answer but it seems that is exactly what is happening, check out subthread here
https://hexbear.net/comment/5696919
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