The Rise Of China 's Economy

1036 Words5 Pages
Since the fall of the Soviet Union Americans have had the luxury of living in a country with no foreign rival. When we do look to see who could be a potential existential threat, the answer is almost always China. China 's economy is growing rapidly, its military is expanding, and its diplomatic influence has spread to every continent. However, despite its impressive rise in the last fifteen years, China remains decades away from competing with the US on any level.

There has been more discussion of the rise of China in recent years due to the struggles in our own country. Our economy is growing very slowly, we have a massive national debt, and many of our weapon systems are aging. It is easy to get the impression that the U.S. is in decline while China is on the rise.

China has emerged in the last fifteen years due largely to free market reforms and expanded international trade. China is now the top exporter in the world. China 's economy has grown from $3 trillion in 2000 to $8.7 trillion in 2009. In 2009, China 's economy grew 8.7% while the U.S. economy shrunk 2.4%. China will soon become the largest economy in the world, surpassing the United States.

Despite these impressive numbers, most of China still struggles with poverty, unemployment, and civil unrest. Per capita income in the U.S. is still over seven times more ($46,000 compared to only $7,000 in China). It will be decades before the Chinese people will have an equal standard of living to the United States,
Open Document