Essay About Asian Country And Growth Of China

Growth of Chinese Economy
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The growth of China is becoming more and more evident by the day. It is already
the worlds fastest growing economy and the second largest holder of foreign – exchange
reserves. The Asian country not only has the current largest army but the fourth largest
Defense budget, making it a possible threat to Americas potential economic overtake.
The countrys rise in world economy also effects other countries by bringing new
prospects to their economies. For example, cheap imports from China have saved
American consumers billions of dollars. The Chinese have also allowed American
manufacturers to continue borrowing and spending, disregarding the belief of
consumerism in order to maintain the world economy.
With its dramatic policies and economic reforms China has built itself up into a
complex society based mainly on commerce. Its original culture has generally un –
changed but the mass consumerism has significantly transformed. The Chinese
government has modernized the economy without changing the culture of its people.
China has the fastest increasing growth rate for a major economy. With its massive
population of approximately 2.5 billion people, China has become an influential central
planner for third – world countries. Its economy has opened to foreign exchange,
investment and trade; establishing its ideas of a market – friendly system. It does not
give out large amounts of power and enforcing more free – market reforms into society.
The rising of china as a global power should not be issued as a threat. Its growth