*  *  *  The emergence of China as a global economic power is one of the most important developments of recent decades. For the past twenty years, the Chinese economy has achieved a growth rate averaging nearly 10 percent per year, resulting in a quintupling of output per person.
Nestor A Espenilla, Jr: Of commitments and navigation Speech by Mr Nestor A Espenilla, Jr, Governor of Bangko Sentral ng Pilipinas (BSP, the central bank of the Philippines), at the Reception for the Banking Community, Manila, 27 July 2018. * * * Good evening everyone.