China Takes Off.

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  • Additional Information
    • Subject Terms:
      ECONOMIC conditions in China, 1976-2000; ECONOMIC development; INTERNATIONAL trade; HIGH technology industries; FREE ports & zones; INTERNATIONAL relations
    • Subject Terms:
      CHINA; ASIA
    • Abstract:
      The article discusses the improvements in the economic conditions of China. While nurturing a vibrant sector and attracting nearly $500 billion in foreign direct investment, the world's most populous nation has radically liberalized its economy and gone from producing low quality and simple exports to sophisticated high-technology goods. According to the article, there is no question that China's emergence as a great economic power will rank as one of the major issues confronting world leaders. To start, the article discusses China's economic liberalization strategy, focusing on high technology and its resolve to become a regional leader, as well as such challenges as the widening gap between urban and rural populations, growing unemployment and an aging population. Next, the article considers the effects that China's remarkable success has had both at home and abroad. China's progress has unnerved many of its neighbors and trading partners. China has tried to assuage its neighbors' concerns by spearheading a project to create a regional free trade zone and tightening economic cooperation in Asia through local mechanisms.