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China has the potential to grow on average by 8% annually from 2021 to 2035 but the actual growth may be 5% to 6% as the country needs to focus on high-quality growth, inequality and environment protection, said Justin Yifu Lin, the honorary dean of National School of Development at Peking University, at a forum held by NSD on Thursday.
The country's average GDP growth needs to be 4.7% to double per capita GDP in 2035 from 2020, said Lin who was the chief economist with World Bank from 2008 to 2012. China may realize average GDP growth of 4% from 2036 to 2049 then the country's GDP per capita will be half of that of the U.S., he noted.
Lin recently told MNI that China's swift recovery from the Covid pandemic could help its economy surpass that of the U.S. in size by 2028, two years earlier than previously expected.