Is China going to replace America as the most dynamic economic nation on the face of the earth?

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Over the past years, the American government has been planning injunctions against China due to cases of cyber-crime involving Chinese citizens. And China has also triggered the ire of America’s economy and its politicians by belittling its currency and exhibiting a preference to the Chinese corporations over foreign ones.

Made-in-China-500pxDespite the anxiety, China still maintains as one of the most important countries in the world for America i.e. for security and business reasons. This is because China is rapidly transforming and its dealings sweep across the world and impact the life of an average American- dictating the price of commodities and affecting what we earn from our works. But maybe due its intricacy and size, it’s quite tough to understand exactly why China matters. However, we all know that China is one of the biggest countries in the world with the second largest economy after U.S, hence it contributes about 12 percent of the world’s economy and about a quarter of global development in current times. Also, it is America’s second largest business partner.

One of the methods through which China has gained influence over other countries is through business links and trade. It is famous as the factory of the world, producing a disproportionate share of the world’s embellishments, clothing, and iPhones. In fact, the inflow of inexpensive Chinese goods as assisted some Americans and offended others. It has raised the living of many American’s who can now cheaply access some goods they couldn’t have afforded before. Also, it has reinforced employment for Americans in the transportation, construction, finance and retail sector.

On the contrary, it has caused a lot of damage on the America’s manufacturing sector since as the trade with China increases and its imports into the U.S thrives, the dividends of Americans employed in manufacturing have been dropping. Another way China is reforming the world is its craving for resources, to sustain its industries and build infrastructure. It is now the primary consumer of resources from countries thriving on them like Brazil and Australia. It accounts up to about half of the copper, aluminum, nickel, steel, and concrete consumed worldwide every year.

chineseChina is undoubtedly a rich, powerful country- with the ability to create new trade links, introduce new international organizations and send probes into space. This has seen the growth in incomes over the past years, and they are now earning more than Africa, India, and Asia-Pacific but less than U.S and Europe. However, much of the prosperity and emergence of millionaires is concentrated on the Eastern Coast while in its interior many of the people still survive on subsistence farming. So despite the rapid growth, China still faces some challenges just like any other developing country.

Polls done some few years ago reveal that American’s are troubled about Chinese cyber -attacks and its rising military power, and the amount of U.S debts it holds. Remarkably, many Americans already believe that China is the world’s superpower. However, this is not the reality, and it seems unlikely to occur anytime soon. America is still the world’s superpower having much more economic power, military might and impact on many countries than China.

chinaWe might be heading towards a bipolar world where U.S and China share that rank equally, but we are still not there yet. “I think the reality is that China is not nearly as strong as it wants to be perceived and as many U.S. analysts like to play them up,” says Rodger Baker, the vice president of analysis at Stratfor, a geopolitical intelligence and advisory firm.

What is distinct is that China has developed as a great regional power, with ability to maintain its own against the U.S in East Asia, which for a long time has been the area of dispute. America wants to be centrally entangled in Asia, but China wants to have full control of its region and prevent U.S from getting hold of it. In conclusion, the connection between China and U.S in sophisticated and broad with large amount of ties including education programs, business partnerships, military exercises, counter-terrorism fights and even co-produced movies. However, it is not clear how the two countries will solve their disputes in the long run.

The suggestion that the political system in China is heading towards an antithetical direction to American values is worrying. At the same time, there isn’t much ideological disparity between the two countries as China has embraced capitalism and even supported the international organization created by U.S and Europe.

It has also offered support to the U.S on nuclear non-proliferation in Iran and North Korea. Also, they have together in the fight against terrorism in the Middle East and Central Asia. So, the two countries are so bonded together in many ways and hence may rise or fall together unless they cooperate or at least work in parallel.

Should America be worried at China’s rapid growth?

Will China overtake America as the world’s superpower?

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