ROFL. Never have I seen a more skillful distortion of facts. China's GDP per capita was around $500 per person in 1950, just at subsistence level, whereas it is currently around $9500. Other than a few countries such as South Korea, there are no countries that have advanced so much in that period.
If they have fallen in ranking, that is only because a number of countries became independent after WW2, especially in Europe.
Between 1949 and 1978 they did massively screw up economically while experiencing a population boom, which obviously led to GDP per capita numbers to collapse. On the other hand, since 1978 they've experienced probably the biggest economic boom in human history.
After Mao's death the government was pragmatic enough to realise that if they did not kick start the economy the regime would collapse (as it did in the USSR), and they rightly concluded that socialist economic management does not work.
Beyond that, it's difficult to compare with South Korea (since someone else mentioned that country) just due to the population difference.
Not really. They grew at an average of 6% over Mao’s reign too. The economic progress made was very substantial. In 1948 China was an impoverished, colonised and war-wrecked country with a large proportion of drug addicts. 90% of people were illiterate. By the 60’s it was a major power making large machinery, ships, weapons etc.
In 1950 China Per capita GDP was 612$ where Ethiopia was $277.00 thus it was well past subsistence levels. Critically as I said this was post civil war which should have allowed for rapid growth in the next few years.
If they have fallen in ranking, that is only because a number of countries became independent after WW2, especially in Europe.