China’s economic output exceeded $10 trillion in 2014, reports The Economist (20 January 2015). Though it was just short 0.1% of China’s official growth target, the feat was achieved by the US only in 2000 in comparison. China’s economy is also more balanced than the US when it had a double figure growth, and inflation is under control with more jobs created.
The Chinese economy is no longer driven completely by investment and depends more on consumption. Officially missing its growth target also shows that Chinese authorities are trying to be more transparent and aiming for “the new normal” economy with a slower but higher-quality growth
