Source: China boom sets our course CHINA GROWTH ENGINE OF THE WORLD China's output 1980: $US420bn ($A556 bn) 2005: $US8092bn. China is now the world's second-largest economy, twice the size of Japan. China as per cent of world output 1980: 3.2% 2005: 13.6% Last year China generated a quarter of the world's economic growth, more than the US. China's average growth rate 1980-2005: 9.5%. 2005-15: (forecast) 10%-plus. On current trends, China will over take the US by 2015 to become the world's largest economy. Australian exports to China/Hong Kong 1982-83: $983 million. 2004-05: $15,672 million. One in every eight export dollars we earn comes from China and revenue is growing at 24 per cent a year.