(Excerpt from Lee Kuan Yew: The Grand Master’s Insights on China, the United States, and the World)
During the last three decades, China’s economy has grown at the phenomenal rate of 10% per year, sometimes even exceeding 12%. Can China maintain such high rates for at least another decade? I think it can. China is starting from a lower base, and its 1.3 billion domestic consumers will keep rates up because their disposable incomes are growing.