China's transformation from rags to riches isn't over quite yet.
Thanks to economic reforms put in place by late leader Deng Xiaoping from the '70s that set off rapid industrialization and urbanization, the China miracle is set to continue with per capita GDP seen rising to 64th out of 166 countries by 2022, up from being the 133rd-poorest in 1992 — on par with Haiti and with over half its population living on less than $2 a day.
The current $16,676 per capita GDP level is already higher than Brazil's when adjusted for purchasing power, according to a Bloomberg analysis of International Monetary Fund data.