China, the world's second largest economy, considers itself "developing." Why?

China already holds the rank of second largest economy in the world. And it’s still growing. In a report released last week, China said its economy grew at a rate of 4.5% year-on-year in the third quarter. That’s more than a percentage point above the rate that the U.S. grew over the same time frame.

And yet, China sees itself as part of the developing world. “It goes all the way back to Mao Zedong and Maoist foreign policy,” said Yeling Tan, professor of public policy at the University of Oxford’s Blavatnik School of Government. “Back in in 1974, Mao made this observation about the first world, the second world, and the third world.”

China being in the third world. Ever since, China has aligned itself with the Global South, despite rapid growth and economic progress.

“Marketplace” host Kai Ryssdal spoke with Tan about China’s role on the international stage, and why they continue to categorize themselves as “developing.”

Click the audio player above to hear their conversation.