“When China grew 10% in 2001 it added $126bn to its GDP, equivalent to adding Kazakhstan’s 2010 GDP of $130bn (the 55th-biggest economy in the world) to the world economy. By 2010, China’s 10% annual growth added $891bn, more than the 2010 GDP of the Netherlands, the 16th-largest economy in the world.”
This line, from Renaissance Capital, underscores the scale and the pace of China’s economic rise. But while China’s economy is undoubtedly soaring – China Inc. isn’t keeping up.
A trawl through the sector rankings of global companies by market cap shows that, save for a few particular areas, Chinese corporates are still way behind, not just developed market peers, but some emerging market companies too.
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