.China in the Middle Ages

In: Business and Management

Submitted By deal1
Words 503
Pages 3
China has been experiencing very fast economic growth for three decades now. Surpassing other G-8 countries, China has become the second largest economy in the world in Purchasing Power Parity and she is already the world’s top exporter country. This fast economic growth has been associated with fundamental changes in China’s institutions. From a centrally planned economy and very egalitarian society, China has become by and large a market based economy and an unequal society. China has also become more integrated with the rest of the world.

The rise of China is having repercussions all across the world. On the one hand, China has become the workshop of the world, supplying low-cost manufacturing goods to almost every part, of the globe. On the other hand, China’s demand for energy and other industrial raw materials is affecting world prices. As a result of her success in export, China now has the largest foreign currency reserve, much of which is invested in the US securities market, so that the economies of the United States and China have become interdependent in more ways than are readily visible.

In the Middle Ages, China thought of herself as the center of the world, naming herself as the
Middle Kingdom, and the rest of the world was drawn to her because of her wealth, technology,
And culture. However, China stagnated later and, after losing out in the Opium Wars in the mid nineteenth past century, she found subject to a quasi-colonial rule by European powers. After a long period of wars and revolutions, China is now staging a spectacular comeback, and the question that is engaging the minds of scholars and policy makers alike is what lies ahead of this resurgent China, and how her resurgence will influence the world. Answers to these broad questions however depend on the resolution of a wide range of issues that have accompanied or…...

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