Chinas Emergence as a Superpower - 1552 Words

The 19th century belonged to the British. The 20th century belonged to the United States. But the 21st century belongs to China, -- Jim Rogers, Hedge fund manager Chinas population is one of the greatest natural resources on the planet. Its citizens are becoming more educated, diligent, aspiring and comprise nearly a quarter of the worlds population. The combination of Chinas massive size and rapid modernization is creating the framework for an emerging superpower. Chinas growing economy is not only gaining international prestige, but its confidence has soared as it continues to be the worlds fastest growing economy for the past three decades. Chinas rise as a manufacturing base is going to have the same kind of†¦show more content†¦Simple reasoning shows the correlation between productivity and economic growth. The Asian value of saving and investing rather than wasting money on western hobbies such as drunkenness as stated by Mark Twain, is very essential for economic growth. The idea of savings has allowed China to stray away from debt, and ultimately can be applied to understanding Chinas trade surplus1 of $202 billion with the United States. This number is more than just a numerical value when applied to the United States trade deficit1 of $725.8 billion. This surplus depicts the savings and investments of the Chinese and how both have allowed for not only rapid growth of capital stock, but also the shift from the traditional agricultural sector to a more modern sector, which ultimately advocates economic growth. As noted by the Center for Strategic and International Studies, and the Institute for International Economics , Domestic savings have been more than sufficient to finance the high level of capital formation that has characterized the last three decades of economic growth. Furthermore, the United States has a savings1 rate of zero, whereas Chinas savings1 rate is 34%. The last attribute of the Chinese people with respect to Confucianism is the obedience of the Chinese people. As noted by Sen , Confucius said, When the [good] way prevails in the state, speak boldly and act boldly. When t he state has lost the way, act boldly,Show MoreRelatedChinas Emergence As A Superpower Essay1586 Words   |  7 PagesStates. But the 21st century belongs to China, -- Jim Rogers, Hedge fund manager Chinas population is one of the greatest natural resources on the planet. Its citizens are becoming more educated, diligent, aspiring and comprise nearly a quarter of the worlds population. The combination of Chinas massive size and rapid modernization is creating the framework for an emerging superpower. Chinas growing economy is not only gaining international prestige, but its confidence has soaredRead MoreIs China A Global Superpower?778 Words   |  4 Pagesâ€Å"China is quickly emerging as a global superpower.† The fact is that China is already a global superpower. 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