Why did China need to develop a stronger economy?

Causes of China’s Economic Growth Economists generally attribute much of China’s rapid economic growth to two main factors: large-scale capital investment (financed by large domestic savings and foreign investment) and rapid productivity growth. These two factors appear to have gone together hand in hand.

How does China’s growth affect the world?

China, with its giant economy, has a huge influence on world economies. In 2020, the nation proved its resilience and was able to reopen its factories relatively early in the year, supplying the U.S. and other global economies with much-needed exports.

What has China achieved in the past 40 years?

Yet what China has achieved in the past 40 years is remarkable. It has witnessed the greatest reduction of poverty in the history of the world. Before long, it should be the largest economy in the world. And now, in Xi Jinping it has a leader who is willing to assert Chinese power on the world stage.

Could China become the world’s preeminent great power?

All these techniques of statecraft are really not something one would like to see becoming more widespread in the world. And yet, that would probably happen if China were to become the world’s preeminent great power. In fact, this process has already started.

Why does the ongoing competition between America and China matter?

That is why the ongoing competition between America and China will decide much more than just the great-power careers of these two nations. This competition is, in effect, a struggle about what kind of world we are all going to live in.

Can China replace the United States as a global leader?

If China were to replace the United States in the role of global leader, then its internal reality would shape the outside world, just like that of Britain did and that of America still does. And right now, the internal reality in question is not pretty at all.

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