China: Back to the future
Coinciding with the China Development Forum in Beijing, the Insights blog is focusing on China this week
Amid all the talk of China’s economic resurgence, it’s easy to forget that the country once accounted for a much larger slice of global GDP than it does today. According to research by renowned economic historian Angus Maddison, China accounted for close to a third of global GDP in the 1820s. Estimates vary on its current share of global GDP, but based on the most recent World Bank estimates, it’s around 12%.
To find out more and to see the numbers, go to the OECD Factblog.
The World Economy: A Millennial Perspective, by Angus Maddison
The World Economy: Historical Statistics, by Angus Maddison