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View Full Version : China becomes richest country in the world




wildfirepower
01-23-2011, 11:16 AM
China has foreign reserves of $1,950 billion, the world’s highest, Mr Yu Wenzhe, Chinese Ambassador in Ghana, said on Tuesday at a press briefing to highlight China’s socio-economic development during the past 60 years.

He said China’s foreign exchange reserves rose from a mere $1.577 billion in 1978 to $1,950 billion in 2008 to rank first in the world, adding that the “opening up policy” adopted by China accelerated its socio-economic development.

Mr Yu said China’s GDP rose from 67.9 billion Yuan in 1952 to 30,067 billion Yuan, about $4,397.7 billion in 2008.

He said estimates indicate that China’s contribution to the world’s economic growth exceeded 20 per cent in 2008.

http://www.ghanabusinessnews.com/2009/09/23/china-becomes-richest-country-in-the-world/