July 1, 2021 will mark the 100th anniversary of the Chinese Communist Party (CCP), currently led by President Xi Jinping. This milestone will undoubtedly be celebrated in China, where its political leadership has prepared its economy for this event in the last 10 years.
In 2010, then-president Hu Jintao said the country’s GDP should be twice as large in 2021; an accumulated GDP growth of 100 percent was targeted. Compare that with the total GDP of Western Europe, which did not increase much when measured in absolute numbers.