China 's Economic And Social Development Trajectory Essay

1042 Words Oct 8th, 2015 5 Pages
SUBJECT: China

Summary: For the past three decades, China’s economic and social development trajectory has been growing at an average of about 10 percent GDP growth rate and more than 600 million people have been lifted out of poverty. With a population of about 1.4 billion, China became the second largest economy and is a major political and financial player. Aspirations to become a world leader, in par with the U.S run deep. China is setting up complementary or parallel structures to existing western dominated institutions to augment strategic autonomy, which in future can challenge international rules and shift the balance of global order. President Xi Jingping’s foreign policy reflects his wariness of western influence and his desire to reshape and transform the global landscape. He is firm, deliberate and resolute -- like the terra cotta warriors of Xi’an, and is keen to establish a “new type of great-power relationship” with the U.S.

Argument: State and markets are inseparable and as such it is critical to understand the variants of China’s economic outcomes alongside its political agenda. China has made great strides in positioning itself assertively as a strategic partner in the areas of finance, infrastructure, trade, currency and security with a list of impressive initiatives that focus on ambitions across the globe (see snapshot). It already has a strong presence in Africa, Asia, and its growing influence in Central Asia, the Caribbean and South America is…

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