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English>>Foreign Affairs

China's 2020 blueprint to ripple through world (3)

By Cheng Yunjie and Wang Zichen (Xinhua)

08:41, November 12, 2012

China ranked 77th out of 213 economies in 2011 with a per capita gross national income of 4,940 U.S. dollars, according to World Bank data. The global average was 9,491 U.S. dollars last year.

Over the past 30 years, China has reduced its poor population from 250 million to 26.88 million, becoming the first country to fulfill the United Nation's millennium goal of cutting the destitute population by half.

Last year, the Chinese government raised the country's poverty threshold to 2,300 yuan, which increased the country's poor population to 100 million.

"I see no chance for China to be a challenger of the global order after 2020. But with rising national strength, it can be more extensively integrated into the changing international community. It can contribute more to the world economy and boost the reform of existing international order to better protect the need of emerging economies," said Zhang.

If China succeeds in economic restructuring by relying more on domestic consumption and technological advancement, the rebalancing of world economy will be a less arduous task, he said.

With labor cost rising, China cannot rest on its past glory as the world's "manufacturing plant." It should fuel its comparative advantages across the global value chain through higher productivity.

Higher productivity and efficiency can also check China's energy and resources consumption, easing the pressure on environment left by an expanding world economy, Zhang said.

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