The People’s Republic of China currently has the fastest growing economy in the world,
and has experienced a “more than tenfold increase” in Gross Domestic Product over the last
As a result of this rapid growth, China now has the second largest economy,
second only to the United States.
This economic expansion, in concurrence with increased
military expenditures, has propelled China to the ranks of the global elite, making it perhaps the
most powerful and influential country in the world after the US.
With this development has
come an influx of foreign interest, a burgeoning middle class, and an increased impact on world
On the other hand, this rapid growth has also been marked by an extremely poor lower
class, human rights abuse, and an extraordinary amount of pollution.
Although there are both good and bad characteristics of China’s rise to an economic
superpower, this has also been true of every other country that has experienced the same
industrial boom that the PRC has been undergoing for the last several decades.
Nonetheless, it is
important that the Chinese government neither be praised nor scorned for its economic miracle,
but rather examined analytically to determine both the causes and effects of this growth.
an in-depth investigation, it is revealed that China’s tremendous economic expansion is due
primarily to the availability of a cheap labor force as well as foreign investment, and that the
Chinese government must initiate a number of economic, social, and environmental reforms to
avoid a future collapse of their economic system.
With over 1.3 billion citizens, China is the most populated country in the world.
large population has allowed the PRC to develop their economy very rapidly because business
owners have had an enormous labor pool to draw from.
Employers, whether service firms,
factories, or government agencies, have had little trouble finding people to work for them,
CIA – The World Factbook.
15 April 2007.
17 April 2007.