The rise of China is not a new phenomenon. Following the fall of the Soviet Union, China began to rise as a world power. Moving away from its isolationist and command economy roots China began to engage the world through trade and embrace some free market principles. This steady growth has continued today. Given historical trends it is clear that China will replace the United States as the leading world economic power, over the next decade.
This continued economic growth is highlighted in one of my articles that talks about China’s entering a new economic rank based on its high yearly growth. Amid downward pressure this year China’s economy thrived growing 6 percent to 14.38 trillion dollars. This his China’s growth target of 6-6.5 percent. China also cracked the 10,000 dollar milestone as far as GDP per capita. Just like we talked about in class, with the economic quality of life improving the Chinese people experience the revolution of rising expectations. When people consume more and more they expect their quality of life to continue rising. As soon as government policies begin to interfere with this continued economic growth people begin to protest against the government. This is a serious concern as China continues to climb the socioeconomic ladder.
Despite these potential problems, this sharp economic growth comes with clear advantages. Beyond quality of life improvements, the overall power of China increases exponentially. When China was less powerful economically it had less of a say in the international stage. In recent years this has changed. This is especially evident in the recent trade war with China, where China did not submit to the interests of the United States and forced negotiations. With a stronger economy China can begin to use its economy more like the US does: as a geopolitical weapon. Overall, the continued expansion of the Chinese economy elevates it as a world power and is becoming more of a threat to US dominance.