In 2015, China and emerging Asian markets comprised nearly two thirds of the world’s total GDP.
That’s an astonishing $42 trillion in China alone, according to Kleiner Perkins partner Mary Meeker, who presented her annual state of the web report Wednesday.
To illustrate this explosion, Meeker presented an image of Shanghai’s Pudong district nearly flat skyline 30 years ago next to a contrasting image of the towering glass structures which dot its skyline today:
- Mary Meeker
Meeker highlighted that this explosion of large infrastructure and capital investments and “reimagination” of China “helped drive global growth of likes which is difficult to repeat.”
But China’s growth is slowing. Its currency has sharply devalued over the last year and further capital investment has stagnated.
Meeker asserted that this slowdown and depressed interest rates around the world indicate a poor growth outlook.