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China Is the Driver of World Economic Growth, as Even the IMF Admits

Jan. 12, 2017 (EIRNS)—The Chinese word for "economy" means "for society to prosper and benefit the people," today’s Global Times explains. That this is the organizing principle of the Chinese economy can be seen in both domestic and global terms, when looking back at last year.

According to the International Monetary Fund, China contributed 39% of world economic growth last year, a rise of 14.2% from the year before. In addition to indicating the directionality of China’s economy, this is, of course, an extraordinary marker of the economic collapse of the trans-Atlantic economies.

According to Chinese figures, 12.49 million jobs were created in cities and townships last year, while 10 million people overcame poverty. For 2017, the article predicts that China "will inject into the world economy ’Chinese dividends’ that are full of hope." It previews that at the 19th National Congress of the Communist Party of China later this year, policymakers "will formulate and implement some major policy measures." China will have the opportunity this year, through its leadership and participation in various international fora, such as the BRICS summit, Davos, etc., to work with other countries "to promote the building of a shared destiny and the recovery of the world economy."