We hear news of how China’s economy is slowing down. The media is making this sound like it’s the end of China and that its days are up. What they forget to mention is that while its economy is slowing down, it is still growing at a faster rate than the rest of the world. There is no doubt that China is on its way to become a super power on the global stage.
Building Its Economic Might
China is now the second largest economy in the world after the United States. At the rate that it is growing, it is bound to become the largest economy in 20 to 30 years. It would leave behind the United States and India which would be its closest competitors. Even now we could already feel the economic power of China with its influence.
From a relatively backward country after World War Two, China started to rebuild its economy in the 70s by introducing its own brand of capitalism into the country. With its gigantic labor force it was able to attract companies all over the world to have their products made there. Chinese factories were able to churn out products at very little cost. The country thus became an attractive investment place for manufacturing companies from everywhere.
That was how China was able to start its economic rise. Now it plays a major part in the world of finance and economy.
Its Vast Military Power
The People’s Liberation Army of China is one of the largest armed forces in the world. This fighting forced is backed by an increasingly modernized arsenal of weaponry and equipment. China is one of the few countries that has nuclear capability and has ICBMs or intercontinental ballistic missiles. It has a large air force and a strong fleet. Recently, it bought an old carrier which it is refurbishing and studying so they could build copies of their own.
This growing military might of China is particularly disturbing to its neighbors. It does not hesitate to use jingoistic moves and statements which is causing some strains in its relationships with other countries. China is in the middle of territorial disputes with several countries right now. It is facing off with Japan, Vietnam and the Philippines. Then there is the problem with Taiwan which it has never fully recognized and which it considers to be a renegade province.
The Power of China and Future Problems
There would be more problems with China in the future as it continues to grow and its economy expands. When its leaders feel that they are strong enough they would try more bold moves to see how far they could go.
The problem lies in the fact that Chinese people consider themselves superior to the rest of the world. Compared with their history the reign of the United States seems to be a brief interlude which has finally come to an end. The future is unsure as long as China remains hungry to gain power and dominance all over the world.