Jim Rickards - Paper Tiger *vocalization*

The story of China’s explosive growth from 1978 to 2008 is well-known.

China’s GDP surged from less than $150 billion in 1978 to over $3 trillion by 2008. China’s average annual growth rate exceeded 10% from 1978 to 2005. During this period, over 600 million people escaped poverty to obtain at least a stable if low-income standard of living.

Between 2000 and 2008, China became the factory to the world providing everything from simple assembly to textiles to world-class automobiles and laptop computers.