Moreover, this was a growth rate that did not appear to cause undue inflationary pressures in the mid to late 2000s. Taking all of this, and noting also the behaviour of inflation more recently, suggests that potential output growth might be somewhere around the current growth rate of GDP of about 8 per cent.
Graph 4  Implications for demand for commodities The prospects for Chinese demand for commodities will depend not just on the growth rate of the economy, but also on the composition of that growth. 3  IMF (2012) data imply that output per worker is only about 15 per cent of that in the United States.