Russia supports China's peaceful rise

As China observes the 100th anniversary of the founding of the Communist Party of China this year, let us analyze the country's development in the international context.

Indeed, many see China's economic and social development as a miracle. It is hard to imagine today that only four decades ago, before reform and opening-up were launched, China's per capita income was less than one-third of the average in Sub-Saharan Africa. With a trade-to-GDP ratio of less than 10 percent, China was an inward-looking country.

However, today China is the world's second-largest economy and likely to overtake the United States as the largest economy (in nominal terms) in a few years. Also, the country's share in global industrial production has reached one-fifth of the total from less than 2 percent just a couple of decades ago.