In the last few years, nearly 50% of world incremental GDP growth has been created by China. The globe with a GDP of $70 trillion has been growing at 3% per year adding nearly $2 trillion to world GDP each year. China with a $10 trillion economy has been growing at 10% for many years adding nearly $1 trillion to the world economic GDP. Effectively, China has been adding 50% of world GDP growth. Even the US only contributes about 28% to the annual GDP growth. That underscores the importance of China. It is only because of China growth fears that the IMF and the World Bank have been consistently downgrading the global growth rate this year.