Chinese growth is widely regarded as furiously export driven, but domestic investment has in fact been the major component.

In general, growth was broadly based, supported by robust export growth and higher commodity prices as well as strong domestic demand driven by low interest rates.

First comes growth driven by foreign borrowing.

The 12th FYP aims to shift China from an export driven growth model toward a balanced economy that relies on domestic demand, while simultaneously addressing industrial transformation, social inequities, and environmental degradation.

Slower population growth and a demographically driven decline in the labor force participation rate will reduce employment growth.

The growth in domestic investments would not only enhance national wealth, but would also spur the demand for foreign capital and technology in an escalating, mutually reinforcing manner that makes investments demand driven.

But, like any other large economy, China s economy is driven by domestic consumption and investment.

Domestic demand led growth will be a more reliable strategy than export led growth.

After all, Russia s resource based, de industrializing, expenditure driven economy is the result of purely domestic choices.

In some countries, such as China, Thailand, South Korea, and Vietnam, nominal GDP growth was driven to a large extent by real growth.

The strong growth of the global economy in 2003 and 2004 was both reflected in and driven by strong growth in world trade.

Transforming China from an export driven economy to one that relies on domestic consumption requires two fundamental reforms.

The structural evolution that underpins growth will increasingly be driven by market opportunities and entrepreneurial initiative.

US growth will be driven by the recovery of investment, which fell precipitously during the crisis.

After all, a domestic stimulus would help maintain economic growth.

Services already account for more output and employment than industry the Internet company Alibaba, for example, is empowering both consumers and smaller companies on a previously unimaginable scale and recent growth has been driven by domestic demand rather than net exports.

Domestic shortcomings and political polarization have fed a temptation to drift away from a foreign policy driven by universal values.

In today s world, development objectives can realistically be met by supporting industrial growth, not only domestic industrial growth.

Long term growth depends not on foreign demand, but on domestic supply.

Most important, export led growth must give way to domestic economic drivers.

Domestic investments are a critical resource for economic growth and sustainable development.

Domestic demand led growth will be a more reliable strategy than export led growth. That means that countries with a large domestic market and a prosperous middle class will have an important advantage.

A country's domestic growth prospects played a significant role in FDI site selection.

The damage from the financial crisis is still ongoing, but stronger growth can heal many wounds, especially debt driven wounds.

Hence demand for commodities, which has been driven by emerging market growth, has fallen sharply, and help decrease global inflation.

Historically, agriculture has driven economic performance in many countries, generating growth that has been shown to be at least twice as effective in reducing poverty as growth in other sectors.

Small farmers, both women and men, are Africa s biggest agricultural investors. And agriculture driven GDP growth is more than twice as effective in reducing poverty as growth in other sectors.

Growth driven by high commodity prices is also susceptible to busts, for similar reasons. Commodity prices tend to move in cycles.

Driven mainly by the almost insatiable appetites of China and India, a profound burst of growth has come to Latin America.

By contrast, state driven capitalism has given China economic stability and rapid growth, allowing it to ride out the global crisis.

Russia s growth generated jobs, boosted incomes, and contributed to a decade of domestic stability.

Thus, India s high growth rates will have to remain dependent on strong domestic demand.

To empower the domestic market to drive income growth, and to accelerate the growth of the middle class, these numbers need to shift.

Now China must choose between the export based, investment driven growth model of the past and a new, more viable economic order.

Export led growth meant that China could produce without worrying about developing the domestic market.

Emerging market economies will take some steps, including interest rate cuts, to safeguard domestic growth.

Little in America s domestic policy debates hints at a viable growth and employment oriented strategy.

Employment in the manufacturing sector has tended to increase (as a share of total employment), even in India, with its services driven growth.

But then critics shift ground and argue that trade driven growth benefits only the elites and not the poor it is not inclusive.

Among the drivers of growth, domestic capital formation retained much of its momentum from preceding years.

But even with the best policies, domestic growth is liable to lag behind the global economy.

Much has been made of domestic consumption as a driver of Chinese growth in the future.

Despite real growth in gross domestic product, most least developed countries have fallen even further behind.

An important victim will be Japan, where anemic real income growth is depressing domestic demand and exports to China sustain what little growth there is.

Second, greater reliance on services allows China to settle into a lower and more sustainable growth trajectory, tempering the excessive resource and pollution intensive activities driven by the hyper growth of manufacturing and construction.