Neoclassical growth theory predicts that China's economic growth rate will

Name: Neoclassical growth theory predicts that China's economic growth rate will
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Neoclassical growth theory suggests that economies will converge in terms of per capita income as poorer economies grow faster than richer ones due to diminishing returns to capital in wealthier economies. This implies that China's economic growth rate will eventually converge to the growth rate of more developed economies like the U.S.

Neoclassical Growth Theory Predicts That China's Economic Growth Rate Will