China, Most Successful Development Story in World History

On Wednesday it was known that the Chinese National Development and Reform Commission has finally allowed Shanghai, China's biggest city, and Disney to work on the construction of the amusement park that will be located in Pundong, the city's eastern district. The building of the park park, that is expected to be much larger than the one in Hong Kong, will imply one of the largest-ever foreign investments in China, near $4 billion.

The very same day, the World Bank raised its forecast for growth in China. The institution expects the Chinese economy to grow 8.4 percent this year, according to its latest quarterly review of the country, up from the 7.2 percent it forecast in June, and predicts growth of 8.7 percent next year.

Good excuses to take a look at some facts that make China the giant, colossus, titan and behemoth of the present and the future. You may know most of them, but others might surprise you.

China is the most populous country in the world with over 1.3 billion people, approximately one-fifth of the world's population. It is also the country with more land borders, 14, of the world: Afghanistan, Buthan, Burma, India, Kazakhstan, Kirghizstan, Laos, Mongolia, Nepal, North Korea, Pakistan, Russia, Tajikistan and Vietnam.

The tallest building in the world is in Taipei, world's largest traded corporation is Chinese and world's largest Ferris wheel is in Singapure. Number one casino in the world is in Macao, which has also overtaken Las Vegas in annual gambling revenues. Even world's biggest mall is in Beijing.

China has grown over 9% a year for almost 30 years, the fastest rate for a major economy in recorded history. During the same period, it has moved around 400 million people out of poverty, the largest reduction that has taken place anywhere, anytime. Two examples: while in 1978, the country made 200 air conditioners, in 2005, it made 48 million; China exports today in a single day more than it exported in all of 1978. Last data: China is the largest foreign holder of U.S. public debt.*

As Jeffrey Sachs says 'China is the most successful development story in the world history'.

*Fareed Zakaria, The Post-American World