It’s rare to pick up a some product in the United States without seeing the words “Made in China” written on it. That’s because China is now the world’s top trading country, having exported $0.7 trillion more worth of goods than the US in 2016.
China has also taken many and strong steps to make global connections, which has solidified relationships with some of America’s previous allies. It is also running a very strong and rigorous Public Relations strategy , representing itself as a globalist world power.
China’s 'One Belt One road' initiative also seeks to stimulate economic growth across Asia and has invested billions of dollars into building ambitious amounts of infrastructure to connect China with the rest of the world (Once again a strong PR strategy while making the economy flourish)
The West wants in
China boasts a market of which the West wants a piece. Its economic growth has surpassed every other country’s at an average of 10% per year which is the sheer size of its population (around 1 billion people), while combining with a growing middle class, has given the country significant buying power. As a result, American companies are itching to get involved.For example, Facebook and Google have consistently made efforts to re-enter China or get involved, with each changing policies and creating new products to try to get into the Chinese game. Also, Hollywood’s biggest films are also being re worked or dubbed just for the chance of being allowed in which helps cater to the Chinese population.
The AliBaba group is one example of being technologically dominant leaders in online gaming, social media and ecommerce. From the lightweight, cutting-edge Mavic Pro drone to the all-inclusive app Wechat, the technological innovation emerging from China that was once met with skepticism from the West is now due admiration.
Government intervention stifles potential
As mentioned above, soaring economic growth isn’t enough for a country to gain superpower status. Within China, the financial sector barely provides investors with real, profit, and the country has been accused of limiting competition. For example, Uber failed in China after government preferences for state-owned enterprises gave Chinese rideshare company Didi a competitive edge.
Although China has promised to allow more FDI (foreign direct investment), accusations have been placed on the government's involvement in the economy, which might just place China out of the running for SuperPower status.
Problems within the country; China
China’s current population of around 1 billion has put a huge strain on its natural resources. Efforts to curb explosive growth – such as the disastrous, 'One Child Policy' which had been in place for over 30 years – had backfired miserably, resulting in an aging population which was predominantly male. Much of China’s youth has gone abroad to seek opportunities, and as a result China's labor and youth is rapidly decreasing.
It’s true that China is taking great towards globalization, bearing in mind its booming technological and economic sectors. Yet, its world standing and concerning domestic issues seem to indicate that it still isn’t ready for world domination. Would you be willing to place a bet on China as the world’s next superpower? What are your thoughts? Will China succeed in its ambition to beat the United States to achieve global domination?