China vs. US, by GDP In US$ GDP in China Per Capita GDP in US Per Capita 1980: 180 billion 300 2.8 trillion 12,000 2012: 8.2 trillion 6,000 15.7 trillion 48,000 trillion 20 China US 15 10 5 Lessons from US 0 1980 1985 1990 1995 2000 2005 2012 2022 •Innovative technology industry has contributed to 50%-80% of GDP growth in US. 万 5 China US •Key technological centers in US: California, Boston, Austin, Seattle… 4 •Technology industry covers 10% of GDP in US. 3 2 1 •Question: What is the new engines of growth in China’s economy? 0 1980 1985 1990 1995 2000 2005 2012 2022 2032 2042