"China has had a remarkable three decades of economic growth since it introduced market-oriented reforms in 1979. Within this past decade, average incomes have risen from less than $1,000 (the level of the poorest countries in the world) to middle income at around $6,000 or $8,000 when adjusted for purchasing power parity (or what a US dollar will buy). But because of its sheer size -- 1.3 billion people or one-fifth of the world's population -- it has become the world's second largest economy. It's also the reason why China has a long way to go before it can rival the U.S. China already has clout, but it has a tough road ahead. And China expects its growth to slow after 30-plus years of strong expansion that is already extraordinary."

http://www.bbc.co.uk/news/business-23456018