It is engaged in financing economic infrastructure projects in the silk route countries with positive ROI for China and the recipient countries.(4) The genesis of China's remarkable upswing in a relatively short span of time goes back more than five decades to 1948 when China emerged an independent state after World War II upon the defeat of Japan by the United States.The United States achieved a 2.0 percent average annual growth rate of real GDP per capita between 18.(x) And its growth rate for the next couple decades may be somewhat lower than 2%.It is most likely that China will maintain its lead in economic ranking of GDP in the foreseeable future largely due to catch-up of its per capita income which is rising annually at 8%-10%. However, China's rapid GDP growth coupled with low fertility rate (number of children per women) will boost China's per capita income to high marginal annual growth paving the way for its convergence, in less than two decades, to the level of high income countries as estimated by USC researchers (3). carries a heavy military burden which does not feedback to economic growth while China has avoided heavy military burden.(2) Although China's GDP has converged and surpassed Untired States GDP, its per capita GDP is still below the U. It follows that the GDP gap between China and other countries will further widen in the future. Instead in 2014, China inaugurated a major international economic development program by financing infrastructure projects in the historical silk route countries.
Moreover, China's performance has inspired other low and middle income countries to emulate China's approach and engage in growthmanship including many middle income countries of Latin America such as Brazil, Argentina, Columbia and India which also has a large population like China.Following is a synopsis of China's economic, political and social framework that augur well for its continued development and leadership, and provide a blueprint for other nations to emulate. LEADERSHIP The transition of leadership in China has been remarkably peaceful and smooth.As can be seen Deng Xiao Ping adopted market economy in December 1978.China's leadership was bifurcated between Chairman Mao Zedong's communist party and Chiang Kai-shek's Kuomintang regime raising concern of a pending civil war.(5) To China's good fortune, the two leaders' views coalesced and a coalition government was formed.It was prompted in the 1960s when President Richard M.