Premier Li Insists China is a developing country
According to Li Keqiang, China is still in the process of development. The statement came as the Chinese Premier made a speech on November 13th at the 44th Singapore Lecture. The comment may seem striking given that China represents the second largest global economic force. However, he seemed to suggest one should not read too much into this fact. Xinhua reports the Premier Li also stated that China’s “per capita GDP only accounts for about 80 percent of the world's average”. In the same speech, he also emphasised that China regards development as the path towards overcoming all its challenges. Indeed, a speech at the same event by the Deputy Prime Minister of Singapore, Teo Chee Hean, also recognised that China was facing problems related to “income inequality, sustainable growth and environmental sustainability” despite raising its major economic rise since China’s opening-up forty years ago.
