1. Succesful hosting of the 2008 Olympics and the first Spacewalk better heralded the return of China to the centre of the world. Yet other incidents during the same year-whether in the form of natural calamities, man-made food scares, or socio-political disturbances-have not failed to dampen the optimism that would have otherwise marked unequivocally the country’s year of success.Napoleon once suggested that China be allowed to sleep, “ for when she awakes, she will shake the world “ China has indeed shaken the world – not with her armies, but with her factories. Today the world’s most populous nation of 1.3 billion people is also the third largest economy in terms of GDP and a global investor with operations established in more than 60 countries, while absolute poverty has dropped to below 22 million, with incidence of poverty just around 2 pct.
2. The phenomena rise of China as an economic power as well as her heightened political and military clout that has been growing in tandem with this, inevitably brought forth both regionally and globally, increasing concern over whether she is posing a threat to regional stability and prosperity and if so, in what way. Despite also being viewed as a threat, China is more often regarded as an opportunity for her trade partners. Unlike the earlier economic “ miracles “ of East Asia, China has been following a liberal foreign investment regime in recent decades, opening its domestic markets and “ not building an export powerhouse behind a wall of protective tariffs “. The country’s rapid economic growth has generated great opportunities for large volumes of imports of both primary and manufactured goods from her regional partners.
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