a The Chinese leaders have decided to develop the western area. Jiang Zemin said, “Without development of the western area, how can we modernize the whole country, and how can China become an economic power?”[translate]
Bear and you will reap. At the end of the first decade of the 21st century, China has already become the world's second largest economy in the great practice of reform and opening up. The level of social productivity has improved significantly on the whole. Over 700 million poor people ha...
Sun Yat-sen, the chief architect of modern China’s efforts to overthrow the Qing dynasty in the early 1900s, once said, “The Chinese are like a batch of loose sand,” (meaning the Chinese did not work together). Although not perfect, China’s several millennia-long governance systems ...
"You would have to invest billions of dollars for another 20 years, and maybe then we would be getting closer to the Germans. It's hopeless." However, this is where China's "Made in China 2025" policy initiative comes in, which focuses on sectors in which China could leapfrog the compe...
"China began building its first reactor in 1985, just as the U.S. nuclear build-out began a steep decline," Luongo told CNBC. How did China become the new nuclear leader? Power follows demand, so the new nuclear reactors tend to be built where fast-developing economies need power to...
As a result, monetary policy that impacts national interest rates changes the value of that country’s currency. A residual impact of raising or decreasing interest rates is that the currency value will become stronger or weaker, and downstream impacts on globalexchangerates occur....
The CRS notes that "many economists and other observers have credited NAFTA with helping U.S. manufacturing industries, especially the U.S. auto industry, become more globally competitive through the development ofsupply chains."26Carmakers did not move their entire operations to Mexico. They now...
China looms large in Figure 1, rivaling the size of the Euro area. But I’ve plotted output in PPP terms. When considering the impact on economic activity and purchasing power (as opposed to well-being and real units consumed), current dollar valuations are more appropriate. Nominal GDP mea...
"That (success) is great for China and it's great for the world," he said. "China has become a global economic power. What happens in China, just like what happens in the U.S. economy, impacts the world." The Chinese success story didn't happen overnight. It resulted from new lea...
. While we are familiar with paper money as a symbol of the modern world, Xu suggests that, historically, China actually suffered because it relied on such “fiat currency,”—money which had value because the state said so—rather than coins made of precious metals, as the Europeans did....