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China's rapid economic growth is the result of the combination of the world's economic landscape shift and the huge potential unleashed by China's reform and opening up. The Pearl River Delta, the Yangtze River Delta Megalopolis and Beijing-Tianjin-Hebei Megalopolis have become the driving force for China's economic development, as well as China's most international and typical megalopolises. The three megalopolises play a key role against the backdrop of the China-U.S. trade frictions and China's economic restructure.
China, the world's second-largest economy, attracted a large number of technology talents and employed 19 percent of the world's high-growth technology workers. The US employs 35 percent and Britain employs 5 percent. Japan, France and Indonesia followed.
Chinese Premier Li Keqiang addresses the opening ceremony of the Annual Meeting of the New Champions 2019, also known as the Summer Davos Forum, in the city of Dalian, Northeast China's Liaoning province, July 2, 2019. [Photo/Xinhua]
China’s commercial fleet is expected to more than double over the next 20 years. Boeing forecasts that China will need 7,690 new airplanes, valued at .2 trillion, by 2038.
China's steel exports to the US plunged by 57 percent from 2.21 million tons in 2015 to 0.95 million tons in 2016, because four trade remedies, including anti-dumping (AD) and countervailing duty (CVD) imposed by Obama administration went into effect in 2016. At the end of 2016, 20 US trade remedies against steel mill imports from China were in effect.