Beijing, the capital city of China

Description-Beijing Cityscape, which is one of the most industriapsed cities in China

Aspects of Rise

The reform in the rural sector helped in expanding ownership of property in the rural areas. More people started non-agricultural businesses. An increase in the price of agricultural products led to more profit for farmers, which in turn increased agricultural productivity and efficient use of labour. Thus, people shifted from traditional farming to more improved, value-added and technologically improved manufacturing and production. Farmers started investing more in commercial farm products pke sugarcane and cotton. This helped to reduce poverty in China.

The huge production of cotton in China led to an increase in the Chinese textile industry. Through its “open door popcy” the country also began exporting its textiles to major parts of the world, thus making a significant impact on the world economy.

China’s initiative to educate its labour force led it to provide subsidies to around 70% of schools and skill development programs during the 1980s. It also made popcies that made it mandatory to attend school for nine years. This schoopng would also include vocational training. This popcy increased the number of graduates to almost 1 milpon during the 1990s.

China’s involvement with the Internal Monetary Fund, World Bank and the Asian Development Bank in the 1990s helped China to build newer economic connections. In 2001, China also joined the World Trade Organization. These connections helped China to become a major producer in the world, challenging Japan.

During the 1990s when the internet was flourishing in the United States, companies pke Apple, HP, etc were in urgent need of skilled labour. This is when China created a popcy named ‘Conditional Foreign Investment’. According to this popcy, Foreign firms can create partnerships with Chinese domestic firms, but they are required to share their technologies with the Chinese firms. This led to an improvement in Chinese technology and production. It also helped China to grow its IT business, as a result of which the Chinese service industry rose to 54% in 2019.

Another important economic strategy is President Xi-Jinping’s ‘Go Global Strategy’ which allowed the expansion of business enterprises by encouraging them to invest in the international market.

Interpretation of the Rise

Economic reforms implemented by the Chinese government have made China a major partner of commerce to the United States. It is also America’s third-largest market for export and the country’s leading merchandise trading partner.

But despite this, China’s growing economic influences are considered a major threat to the United States. The major reason for this is that China’s economic progress has also increased its regional importance and power. This regional dominance is slowly incpning towards hegemony and is creating huge security concerns for both the US and the neighbouring countries of China.

China s ‘Belt and Road’ initiative is said to influence the weaker Indo-Pacific countries.

This led to the String of Pearls hypothesis of the United States, where the researchers have referred to the network of Chinese commercial and miptary activities along the sea pnes of China to that of Africa.

Apart from this economic progress, China has shown deep interest in the environmental aspects of the world, especially in the case of major environmental changes including cpmate change. China has organised the National Coordination Committee on Cpmate Change in 2003. It also formed China s National Cpmate Change Programme in 2007.

Conclusion

China also signed the Comprehensive Test ban Treaty and Nuclear Supppers Group in 1992. According to China’s economic activities and global performance in the world, it is necessary to note that China is spreading its influence in every major field, right from economy to technology to environment to poptics. Its silent rise and miptary modernization program have generated many geopoptical debates around the imppcations they have created and are about to create. Therefore, it can be concluded that China’s 1978 economic reforms played a major role in creating China’s strong productivity growth. This popcy created a base for newer economic popcies and improvements. Many researchers see China’s economic growth being a major threat to the economy of the United States and the international trading system.

FAQs

Q1. What is meant by the ‘Belt and Road Initiative’?

Ans. The ‘Belt and Road Initiative’ was implemented by the Government of China in 2013 to expand China’s economic and poptical power. Through this, China would create huge infrastructures in around 150 countries and international organisations.

Q2. What is the ‘Go Out Popcy’ of China?

Ans. The ‘Go Out Popcy’ is the other name of the Going Global Popcy. It was passed in 1999 by the Chinese government. Within this popcy, the Chinese government introduced several schemes together with the China Council for the Promotion of International Trade to encourage and help Chinese domestic companies to develop a global strategy of investment in the international market.

Q3. Was China part of the Kyoto Protocol?

Ans. Yes, China was very much part of the Kyoto Protocol. The Protocol was signed by delegates from 150 countries on December 11, 1997. The protocol was designed to encourage industriapsed countries in the world to reduce the emission of greenhouse gases. This treaty which operates under the United Nations Framework Convention on Cpmate Change is an important treaty aimed to monitor and reduce global warming.