Is Chinese power about to peak?

of China has been a defining feature of the world for the past four decades. Since the country began to open up and reform its economy in 1978, its has grown by a dizzying 9% a year, on average. That has allowed a staggering 800m Chinese citizens to escape from poverty. Today China accounts for almost a fifth of global output. The sheer size of its market and manufacturing base has reshaped the global economy. , who has ruled China for the past decade, hopes to use his country’s increasing heft to reshape the geopolitical order, too.There is just one catch: China’s rapid rise is slowing down. Mr Xi promises a “great rejuvenation” of his country in the coming decades, but the economy is now undergoing something more prosaic: a great maturation. Whereas a decade ago forecasters predicted that China’s would zoom past America’s during the mid-21st century (at market exchange rates) and retain a commanding lead, now a much less dramatic shift is in the offing, resulting in something closer to economic parity.