Today's China looks very different. After decades of rapid growth, it is no longer a nation of poverty-stricken shop-floor workers. Gross domestic product per capita has surged more than 20 times in the past quarter century, to $8,141 in 2015. China's shoppers now rank among the world's biggest spenders. Its retail market is expected to surpass the U.S. for the first time in 2016. Its customers are a key source of new growth for American companies. General Motors sells more cars in China than it does in the U.S., while Apple gets roughly as much revenue from Greater China as from Europe.
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