Discussion Paper
An Assessment of China’s Innovative Capacity
Abstract: Over the past two decades, China has become a manufacturing powerhouse while quadrupling its per capita output and significantly closing the large per capita income gap with developed economies, with China's per capita income now about 20 percent of U.S. per capita income, compared to just over 5 percent in 2004. (Figure 1a). However, China's economic growth has been declining in recent years.
https://doi.org/10.17016/2380-7172.3819
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2025-08-05
Number: 2025-08-05-1