What is the leading economy is the world today? Economists will use two related measures to answer this questions GDP and GDP per capita.
Discuss which measure is more important from person’s point of view and which is better reflect the standard of living? China is experiencing tremendous growth since 1978 and its projected growth rate is 3 times more than the U.S. growth rates. If China will continue to grow at current pace it will have larger GDP than the U.S. in 2018. Will China be able to close the gap with U.S. in real GDP per capita? What factors can contribute to that? What government policy to promote growth should be?
