Jack A. Goldstone and John F. May
In recent decades, the engine of the world economy has been the spectacular growth of China. From 1980 to 2020, fully one-quarter of the increase in global GDP was due to China’s growth, outstripping the contributions of the United States (22 percent), the European Union (12 percent), and Japan (4 percent). From 2010 to 2020, when the United States and Europe were still recovering from the Great Recession, the world was even more dependent on China; in that decade, China’s growth accounted for over 40 percent of the rise in global GDP.
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