Rise of China

inence is often bandied about as a goal of national development and is expressed frequently in the speeches of Chinese leaders and documents such as CCP National Congress Reports and Government Work Reports. In addition, foreigners often worry that China’s rapid economic development will present a threat to the stability of the current world order,Adding that, Because of this, other countries, especially a United States increasingly anxious about losing its preeminence, are often even more outspoken than Chinese pundits in proclaiming the imminent rise of a Chinese pole on the global power-map. According to the 2006 report of the Chicago Council on Global Affairs, 61 percent of US citizens believe that within the next 20 years, Chinese GDP will surpass US GDP. Yet interestingly, only 30 percent of Chinese citizens hold this view. The China threat theory has proliferated across the globe, while Chinese people remain bewildered as to why their country is suddenly the cause for so much international concern, (Yiwei p.1).With a surging Chinese economic present, as well as the potential for the future, many in the international community have in fact been keeping a close eye for that each country is keenly aware that any kind of economic insurgence by China can have very real consequences for everyone else, whether good or bad is left to be determined on an individual basis after viewing the facts.As for the economic history of China, The Peoples Republic of China has the second largest economy in the world after the US with a GDP of nearly $ 7 trillion (2007) when measured on a purchasing power parity (PPP) basis. In November 2007, it became the third largest in the world after the US and Japan with a nominal GDP of US$3.42 trillion (2007) when measured in exchange-rate terms.[5] China has been the fastest-growing major nation for the past quarter of a century with an average annual GDP growth rate above 10%.[6] Chinas per capita income has

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