China Within the World

In: Business and Management

Submitted By sallyzhuang
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How Does China’s Reemergence Impact the Current World’s Dynamics?

* Background
China’s reemergence
In retrospect, there were three glorious dynasties of Han, Tang and Ming in China. During that time China took the leading position in economics, politics, culture, military and diplomacy. But after Ming dynasty China lost its leading position for a long time. Since the reform and opening-up in 1978, China’s reemergence of economics impresses the world substantially. In 2010, China witnessed GDP of 5,878.3 billion US dollars, which is at the second place just following United States 1. During the last decade, China moved from the being the ninth-largest exporter to the largest in the world. According to the Global Competitiveness Index 2011-2012 report, China’s global competitiveness index scored 4.90 and ranked 26 out of 142. The group performance of the developing world is boosted by the strong dynamics of some of the largest economies including China. At the meantime, China’s military power is also strengthened. From 1989 to 2010 China's official military budget increased by double digits every year 2.
Based on above positive and negative facts, China’s reemergence really impacts the world’s dynamics in various dimensions. In general these impacts can be divided into areas including goods, technology, people, capital and culture.

* China’s reemergence impacts world’s dynamics in different aspects
According the percentage distribution of Merchandise Exports data of 11 main economies3 in Asia, China’s percentage grew from 10.3 percent in 1995 to 29.1 percent in 2007. By 2007, China has replaced Japan as the dominant exporter. China’s exports grew at a rate of over 30 percent annually after 2001, and imports grew more than 28 percent annually4. Over the past 28 years, the value for this indicator has fluctuated between…...

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