(Article) China’s Further Ascendancy

In the past decades, China’s economy has improved steadily, and this growth has been instrumental in their various investments worldwide. Through its development banks, infrastructure initiatives, military development and soft power investments, it has made itself a major player in the international community, and continues to carve out a greater niche in the world.

For the past half century, the world has seen the rise of China. From being a heavily agrarian country, it has shifted to being an industrial giant. With the introduction of its economic reforms in 1978 and its adoption of market liberalization, the country has experienced an increase in its GDP from an annual average of 6% from 1953-1978 to 9.4% from 1978-2012. With its continuous economic ascendancy, China has been tagged as the world’s second-largest economy, next only to the USA. Estimates of some leading institutions such as World Bank (as illustrated by Visual Capitalist) and Pricewaterhouse Coopers even show that China is very much on its way of booting out USA from the topmost rank – and to sustain this stance for a prolonged period of time.

With money comes power. Through recent years, China has been able to invest in big-ticket projects that allow itself to be a major and influential player in the international arena. It has shown its ambition to be a global superpower, bolstering its stronghold in various aspects of society and pervading influence across different regions through its development banks, infrastructure investments, military, and soft power, to name a few.

The full article can be accessed at https://shabka.org/blog/2018/08/13/chinas-further-ascendancy/

 

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Published originally on 13 August 2018 at Shabka

Shabka is Austria’s youngest think-and-do tank at the nexus of conflict and peace analysis as well as foreign, development, and security policy. It is set up as a civil society network, and a hub for passionate talents.

Photo by Manuel Joseph from Pexels

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