china.docx - 1 Role Of China in the World Since 1989 Student Name Institution Name Course Name Instructor Name Date 2 Role Of China in the World Since

china.docx - 1 Role Of China in the World Since 1989...

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1 Role Of China in the World Since 1989 Student Name Institution Name Course Name Instructor Name Date
2 Role Of China in the World Since 1989 China has undergone drastic changes in the last quarter of a century. Most of these positive and negative transitions can be directly linked to the 1989 regime's decision. During this protest, troops shot at protesters with rifles and tanks and also to those who attempted to block military advance to Tiananmen Square ( Calhoun, 1989) . The death toll is estimated as 700000 people and many others were injured. After the incident, political systems stabilized. The Chinese Communist Party (CCP) made an unprecedented move, after the protest movement. They gave up their strategy of maintaining economic reform and political reform, which has been successful since China's first phase of reform and growth( Li, 1997 ). They were strongly liberal and progressive to economic reform. This was the choice of the year 1989. Within roughly four decades, China has risen from a poor developing nation to a significant economic force. The actual gross domestic product (GDP) of China rose at an average rate of almost 10% between 1979 (while economic reforms were underway) and 2017. The World Bank states that China has encountered the most sustained development as a major country in history and has raised over 800 million people from poverty." It is ranked first economically based on the acquisition power parity (APP), value-added production, trade in commodities, and the owner of foreign reserves. China has had a major impact on the world's economy. China has lifted the economy of developing neighboring nations. In the last 2 decades, China has achieved extraordinary accomplishments through cooperation with its nearby developing countries, particularly in their improved mechanisms of partnership, enlarged cooperation areas, and stronger political and economic relations. China openly supported ASEAN( Association of Southeast Asian Nations ) in its political coordination program by setting the Eastern Asia Summit (EAS) up in the year 2005 with Japan, Korea, India,
3 Australia, and other nations, and inviting the USA and Russia in 2011. China has become a major ally and a major Foreign direct investment(FDI) in the neighboring area, and over the past few years, economic interdependence has deepened. For instance, in the financial year, 2015-2016 Pakistan received a total of $1,281 billion in foreign direct wear, of which $594 million was extracted from China or 46.37 percent. China has actively promoted bilateral exchange settlement deals with surrounding countries and currencies swap arrangements. China has provided significant financial support to neighboring under-developed countries, for example, to support Laos in the establishment of its International Conference Center and a ground station for communications satellite and help Myanmar build a meteorologic planetarium. To relieve the strain on their economic and social development opportunities, China has often reduced the debts of several neighboring developing nations. China has also

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