The+Economic+Rise+of+China

The Economic Rise of China by Paul Salay and Chase Daniel

China's economy is challenging the US and European economies.

__ 21st Century China Timeline __


 * November 13 2001- __China Faces an agricultural Revolution__ Millions of Chinese farmers fear the growing impact of global agriculture-business as they prepared for the entry into the WTO
 * 2003- __Chinas economy is looking to become the worlds largest economic recovery__ The economy was growing at a rate higher than 9%. Its the most populated country as of now and is the "Worlds Workshop"
 * November 2003- __HIV epidemic__ The worlds fastest HIV growing epidemic took place; and most of the victims were the rural poor
 * March 2004- __The one child policy__ This is said to make a generation of single men. The boy to girl ratios are said to be 130:100 China later has to offer cash incentives to encourage parents to have girls
 * November 2004- __China signs a historic trade agreement__ Singapore, Indonesia, Malaysia, and China will make a combined market of 2 billion people
 * January 2006- __China takes over the UK as the 4th largest economy__ The United States, Germany, and Japan are in chinas sight. They are expected to become the largest
 * May 2008- __China's Earthquake__ The death toll was above 55,000 and was one of the worlds worst natural disasters in many years
 * August 2008- __Beijing Olympics__ Beijing hosts the worlds largest sporting event
 * October 2008- __China becomes the largest foreign holder of US treasuries__ China owns our debt
 * January 2009- __China takes over Germany as the 3rd largest economy__ The US and Japan are the next to be passed up
 * 2010- __China becomes the largest car market after taking over the US__ China is seeing 45% growth each year that goes by
 * February 2011- __China takes over Japan as the 2nd largest economy__ The only one ahead of china now; The US
 * March 2011- __China's forex reserves pass 3 trillion USD__ -Thats US dollars- and there is said to be 34 million ounces of gold not included

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__ Summary __

China has one of the largest economies in the world, and has been growing at a substantial rate. It is expected to become the largest. In any economy weaknesses that are holding it back should be fixed and that's exactly what China's doing today. They have the willingness to change, and that's extremely important. They are reforming the economy in several ways in order to survive. China's economic strategy is based off the idea of government controlled investment and exports. They are the world’s manufacturing base. The workers make a very low amount of income; and that's the key to success.

__ Reading Check __

1. What is Chinas current rank in the worlds economy? 2. What are some techniques they use to obtain this position? 3. What are some conditions in china that make it the "worlds workshop".