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The Chinese Century (simplified Chinese: 中国世纪; traditional Chinese: 中國世紀) is a neologism referring to the possibility that the 21st century will be dominated by the People's Republic of China, similarly to how the 20th century is often called the American Century, and the 19th century the British Century.[1] It is used particularly in the assertion that the economy of China will return to the status it held from 221BC-1830AD, and overtake the economy of the United States as the largest economy in the world.[2][3][4]
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Economy
China's economy has been growing rapidly at a rate of over 10% for over 30 years. It is currently the third largest economy in the world in terms of nominal GDP. In terms of GDP by purchasing power parity, China is the second largest after the United States. In 2007, China's nominal GDP exceeded Germany and may overtake Japan in 2009 or 2010 and the United States by 2027.[5] It is now the world’s largest exporter, surpassing Germany and the world’s largest market for vehicles, surpassing America.[5] Its foreign reserves, by far the world’s largest, are now over $2,000bn.[2]
China is currently the largest producer in several industries, including steel and electronic products.[citation needed] China is already either the largest or second largest consumer of most commodities. It is first for nickel, copper, aluminium, zinc, steel, coal, sea-borne iron ore and tin and second for oil and lead.[6]
See also
- Asian Century
- China's peaceful rise
- Pax Sinica
- Sinosphere
- Economic history of China (pre-1911)
- Economic history of Modern China
- Economic reform in the People's Republic of China
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References
- ^ Rees-Mogg, William (3 January 2005). "This is the Chinese century". The Times. http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article407883.ece. Retrieved 12 September 2009.
- ^ a b "China set to be largest economy". BBC News. 2006-05-22. http://news.bbc.co.uk/2/hi/business/4998020.stm.
- ^ "The Chinese Century". TIME Magazine. 2007-01-22. http://www.time.com/time/magazine/article/0,9171,1576831,00.html.
- ^ Fishman, Ted C. (4 July 2004). "The Chinese Century". The New York Times. http://www.nytimes.com/2004/07/04/magazine/04CHINA.html?ex=1246680000&en=127e32464ca6faf3&ei=5088&partner=rssnyt. Retrieved 12 September 2009.
- ^ a b http://www.ft.com/cms/s/0/d7824222-a15b-11de-a88d-00144feabdc0.html?catid=9&SID=google
- ^ http://timesofindia.indiatimes.com/opinion/edit-page/Top-Article-Without-Fear-Or-Favour/articleshow/5034350.cms
External links
- The Chinese Century: The Rising Chinese Economy and Its Impact on the Global Economy, the Balance of Power, and Your Job
- China's Century: The Awakening of the Next Economic Powerhouse
- When China Rules the World: The Rise of the Middle Kingdom and the End of the Western World
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