China grows by moving people from the farms to the cities, and every time someone moves off the farm into the city, they contribute six times more to GDP than they did on the farm. If you do this 10 or 20 million times per year, you get 6% to 8% GDP growth just out of the demographics.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”