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    • Join Date: Jun 2007
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    #1

    doubling an astonishing three times

    The following expressions in bold are confusing. Could you please explain in easy English?

    1. Since 1980, China's Adam Smith-on-steriods economy has grown by almost 10% a year---doubling an astonishing three times.

    2. The broader point that should emerge from the foundation chapter is that by engaging in a comprehensive set of unfair trade policies and by wielding its primary "weapon of mass production," the China Price, China is enjoying unprecedented rates of export-driven economic growth---and thereby trouncing the competition in global markets.

    Especially, what's the meaning of "foundation chapter?" Is it something like "the first chapter of a book?"

    Thank you.


    • Join Date: Nov 2007
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    #2

    Re: doubling an astonishing three times

    1. Do the math. If the GNP/economy/whatever is being measured grows 10% each year, how long before the GNPetc becomes 200% of that in 1980? It has therefore doubled. (This would have happened in about 1988 if growth is compounded.).
    And between 1980 and when this article was written, this happened three times - the economy doubled, three times.

    2. He is referring back to either some earlier chapter of his (if this is a book), or some other book that he has mentioned earlier in the article or book.

    • Member Info
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    #3

    Re: doubling an astonishing three times

    I see.

    It's been very helpful. Thank you.

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