Introduction
China’s massive expansion into global markets has transformed the world’s economic landscape. The largest country in the world by population has combined state-led economic regulation with steady liberalization over the last three decades, achieving massive growth rates to become the second-largest economy in the world. China currently makes up the second-largest share of the world’s GDP at around 15%,1 which is expected to increase to 20% by 2050. 2050 is also cited as the year when China is projected to overtake the USA as the world’s largest economy.
