China

Factors that help the China to be a most powerful in the world by 2050

Discuss about the Retirement of Revolutionaries in China.

The main aim of this task is to explains and analyze that how will China be a most powerful country in the world by 2050. Here is the discussion about the success and growth of the country. China situated in the east of Asia. Its location and sea is beneficial to its manual relations with many neighboring countries and it can take various advantages in terms of exchanges with foreign countries. On the other hand, the paper explains the economic development and legal system of the country. It depicts that how the country makes rules and regulations to protect the rights of the people. China is the largest exporter and second biggest importer in the world in terms of goods and services. It maintains unique travel destinations. Along with this, China began a reform and opening program to enhance the rapid development and economic growth. Political system, education system, culture, technology have been explained in the task. The rapid growth and success depicts that China can be a superpower in the world by 2050. The tax system of the country is also effective and unique. It protects the rights of the women. Apart from this, some facts related to the success and growth of the country has been explained in the task. The culture in China is unique and fascinating through which country has been able to attract people widely. Further detail of the task has been discussed below.

China is a unitary sovereign society in East Asia and it is one of the biggest populous countries in the world with population of around 1.4103billion (2018). The country covers approx 9,600,000 square kilometers and it is a third largest country measured by the total area (Shambaugh, 2013). Along with this, China has the several neighbor’s countries in the world. The country is number 1 in the list of nations measured by population. Approx 59.3% population is from urban areas (Worldmeters, 2018). There are various factors which contribute in success and growth of the firm. Some of the factors that help the China to be superpower by 2050 have detailed below.

Prior to 1979, under the leadership of Chairman Mao Zedong maintained a unique and dynamic economy. A large share of the China’s economic output was directed and controlled by the state government. The GDP rate of the country is increasing day by day which shows that China can be superpower country in the world (Breznitz and Murphree, 2011). The GDP growth rate of China has been drawn below.

Government of China

The diagram shows that the GDP of the country is increasing in today’s era. After the various researchers it is observed that the country will be superpower country in the world by 2050. The per capital GDP in nominal dollars was $8,583 in 2017 in China. China’s economic success sets an effective example in front of other countries. In this way, the country can attain various advantages in future also (Brown, 2013).

China economy data

	2011	2012	2013	2014	2015
Population (million)	1,347	1,354	1,361	1,368	1,373
GDP per capita (USD)	5,635	6,333	7,124	7,662	7,954
GDP (USD bn)	7,592	8,575	9,694	10,480	10,925
Economic Growth (GDP, annual variation in %)	9.5	7.9	7.8	7.3	6.9
Consumption (annual variation in %)	11.0	9.1	7.3	7.7	7.2
Investment (annual variation in %)	24.0	20.6	19.6	15.7	10.0
Industrial Production (annual variation in %)	13.9	10.0	9.7	8.3	6.1
Retail Sales (annual variation in %)	17.1	14.3	13.1	12.0	10.7
Unemployment Rate	4.1	4.1	4.1	4.1	4.1
Fiscal Balance (% of GDP)	-1.1	-1.6	-1.9	-1.8	-3.4
Public Debt (% of GDP)	14.7	14.4	14.6	14.9	15.5
Money (annual variation in %)	13.6	13.8	13.6	12.2	13.3
Inflation Rate (CPI, annual variation in %, eop)	4.1	2.5	2.5	1.5	1.6
Inflation Rate (CPI, annual variation in %)	5.4	2.6	2.6	2.0	1.4
Inflation (PPI, annual variation in %)	6.0	-1.7	-1.9	-1.9	-5.2
Policy Interest Rate (%)	6.56	6.00	6.00	5.60	4.35
Stock Market (annual variation in %)	-21.7	3.2	-6.7	52.9	9.4
Exchange Rate (vs USD)	6.29	6.23	6.05	6.21	6.49
Exchange Rate (vs USD, aop)	6.46	6.31	6.15	6.16	6.28
Current Account (% of GDP)	1.8	2.5	1.5	2.3	2.8
Current Account Balance (USD bn)	136	215	148	236	304
Trade Balance (USD billion)	154	230	258	383	608
Exports (USD billion)	1,898	2,049	2,209	2,342	2,272
Imports (USD billion)	1,744	1,819	1,952	1,959	1,680
Exports (annual variation in %)	20.2	8.0	7.8	6.0	-3.0
Imports (annual variation in %)	25.0	4.3	7.3	0.4	-14.3
International Reserves (USD)	3,181	3,312	3,821	3,843	3,330
External Debt (% of GDP)	9.2	8.6	8.9	8.5	13.0

                                            (Source: Focus economics, 2017)

The government of China is authoritarian. The government has committed to focus and monitor on the economic growth and policy decisions. The government of China is divided among enormous bodies such as executive branch, the legislative branch, the national congress, the state council and the Supreme Court. The legislative branch of the China’s government encompasses the highest department of the communist party and the national people’s congress (Zhong, 2015). The central military commission consists 11 members and it is liable for monitoring and controlling the people’s liberation army and the people’s armed police. Along with this, national people’s congress selects the chairman of the country. Along with this, a communist system allows limited free trade. By using communist system, the country is expanding and flourishing its business activities and operations across the world. It will help to make a good image in near future. In this way, authoritarian government helps to build and develop china effectively (Manion, 2014).

The political system of China is completely different from other countries. Recently, the government of the country is promoting and enhancing the rule of law. Along with this, Chinese constitution and legislation protect the rights of the human. The formal and informal rules and regulations have been implemented by the Chinese government. As it can be a success factor for China to be a superpower by 2050. The Chinese political system is based on morality instead of legality (Yabuki, 2018). With the help of effective and strong political system, the country can formulate a long term plan for national enhancement and development. Along with this, there is less corruption in China as compared with Russia and India due to strong and effective political system. In addition, the government is more adequate and responsible in such country. Thus, country can easily face various future risks and challenges. It shall be noted that there is personnel training and selecting system in the country which helps to attract more talented and skilled people in the country. It also avoids waste of talented people in such country. In this way, the political system of the country is strong and dynamic which can help the country to be powerful nation till 2050 (Fewsmith, 2013).

Environment of China

The government of China is increasingly paying attention towards the environment. They take care about the issues and barriers of the environment (Carter and Mol, 2013). The state environmental protection administration was initiated by the government and environmental protection act 1998 was made by the government. Along with this, the country also participates in various activities which could reduce the negative impact of the climate change and global warming. It is seen that the country maintains a favorable environment. The strong and favorable environment helps an organization to start new business activities and operations in such country (Schaffer et al, 2011).

The China government has continuously set a complete law system for the foreign enterprises to invest in China. The basic laws and regulations encompass three laws such as the law on Chinese foreign equity joint ventures, the law on wholly foreign owned enterprises and the law on Chinese foreign contractual joint ventures. It is seen that government of the country is considering its existing rules, legislation and statues in according with the WTO. The China follows socialist rule of law in the country. Along with this, China’s legal system is based on the model of Civil law. In this way, the legal system of the country focuses on the freedom and rights of people. It will help to make a bright country by 2050 across the world. The dynamic and unique legal system also helps to conduct new business activities and operations in such country. As a result, it will increase the profitability and revenue of the country in the world (Jia and Jukes, 2013).

The socio-cultural can play a significant role to make the country super powerful in the future. China is one of the four ancient civilizations in the world as it also maintains profound, unique and rich culture in the country. Along with this, Chinese culture is dynamic and diverse. The Chinese culture includes heritage, festivals, the arts, traditions, language and symbols. The Chinese performing arts include Chinese Kungfu, Beijing Opera and Chinese folk dance. In addition, the country celebrates several festivals in all over the world which helps to make unique China from other countries. Chinese uses reckoned and pictographic language commonly. Every country maintains its symbols, as the same way China has several symbols includes the red flag, table tennis, and the great wall. All these make China unique and beautiful as compared to other countries. Chinese are talented and intelligent so as they can easily accept challenges and risks. They are ready to accept new technologies and innovation. Now it is assumed that the country can become more in coming year due to its unique and beautiful culture.

Science and technology is developing rapidly in the country since 1990. The country is much advance in education, science and infrastructure. It has been observed that Chin is a leader in the science and technology. The Chinese discoveries and Chinese innovations like the compass, printing, papermaking and gunpowder are contributing in the economic development in the Asia and Europe. China is a major leader who is providing wider contribution in research and development. In 2012, the country spent approx one trillion yuan($164 billion) on research and development (De La Tour, Glachant and Ménière, 2011). Therefore, the country can take various advantages in the coming years by using science technologies. Science and technology will help the country to address various issues such as pollution, and industrial issues. In addition, the percentage of labor force in China is higher than in the United States. Along with this, the country provides better wage and salary to scientists as compared with United States. The Chinese scientists earn approx 25%, medical doctors earn more than 13% and lawyers earn 5%. In this way, the country gives higher contribution in technology advancement which will help the country to be a superpower nation in the world by 2050 (Naughton, 2012).

A state run system of public education in China is carried by ministry of education. All citizens in the country attend education for at least 9 years. The education system of the China is unique and effective. The education system of China is well know and reputed in the world. The Chinese education system is divided into three categories that include kindergarten, primary school and secondary school (Hansen, 2011). The Kindergarten and primary schools are run by the local authorities in the country.  It shall be observed that China’s education system is one of the largest education systems in the world. There is 4% of the total GDP investment of education is done by China in education system. It is noted that education system of China emphasizes and encourages academic achievements and tests as compared with the western countries. In the early age, children become multitalented due to effective and dynamic education system. It will help the China to be a superpower by 2050. Also, it will help to make a beautiful and educated country in the world (King, Marginson and Naidoo, 2011).

The infrastructure of China is giving contribution in socio-economic development of the country. Economic growth is facilitated in part by water, roads and power investments that help the poor people to survive their life. It will also help to reduce poverty in the country. Infrastructure also provides wide range of contribution in the environmental sustainable development. Along with this, proper infrastructure facilities are being provided by the country to initiate new business operations. In this way, the adequate infrastructure system helps in protecting the environment of the country. Now it is stated that infrastructure helps the country to become successful in the world. Along with this new IT infrastructure covers a wider geographical areas and provides support to a variety of methods, techniques and diverse protocols for communication. Apart from this, IT infrastructure also focuses on the global operations and resources. Due to effective infrastructure system, optimum utilization of resources can be done in the country (Ansar et al, 2016).

Since1978, China’s rapid economic development has bought about a growing demand for energy. The government of China has introduced a number of reform policies and strategies to attract investment, including pricing reform, legal reform, foreign exchange reform and enterprise reform. To improve and enhance the performance of the energy industries, various programs have been conducted by the government in the recent years. These programs would have a favorable and significant impact on the energy sector. In addition, China is the largest energy consumers across the world. Coal dominates the country’s energy structure due to energy resources for a long time. Coal plays an effective role in the China’s energy supply (Hou and Li, 2011).

China adopts a progressive taxation system where the tax rate is 20% 40 for freelancers in three levels and 3% to 45% for regular employees in three levels. Taxes provide a major part of the revenue to the government in China. In this way, effective and unique tax system is followed by the country to generate more and more revenue in near future. In this way, the China can be a successful and powerful nation in the world (Fang et al, 2013).

The financial system of the country is strong and unique which helps to differentiate the China from the other nations. China is one of the biggest economies measured by nominal GDP and it is the biggest economy by purchasing power parity. Along with this, China is the largest manufacturing economy in the world. Along with this, it provides fastest growing consumer market to the people. In this way, the country is playing a prominent role in international trade. The GDP growth is 6.9%(2017) and labor force is 803.6 million(2017). Mining, iron, steel, aluminum, apparel, petroleum, chemicals, cements and food processing are considered the main industries of the country (Allen et al, 2012). The financial system of the country is attractive and effective. To make China’s financially strong, import and export play a vital role in the country. The country exported around $1.2 trillion goods and services across the world in 2010. The top export partners of China include United States (17.7%), Sourth Korea (5.25), Hong Kong (13.3%) Japan (8.1%), and Germany (4.1%). The country’s top import partners include United States, Germany, Taiwan, South Korea and Japan. Import and export play an empirical role to gain maximum profits and revenue in the marketplace. It can provide a good opportunity to the China to be successfully in different countries (Jarreau and Poncet, 2012).

Climate is extremely diverse and unique in China. A peculiar and specific feature of China is its monsoon nature. The rainfall season generally comes in the hottest season. In the northeast, the summers are dry and hot and the winters are freezing cold. In the southeast, there is ample of rainfall, semi tropical summers and cool winters (Li, X et al, 2011). In this way, the weather and climate are differ in China as compared with other countries. It will help to attain long term mission and vision (Domrös and Peng, 2012).

Now it is assumed that the China can become successful and powerful nation in the world. These factors help the China to explore and expand its businesses globally. On the other hand, telecommunication also plays a vital role in China for providing effective and unique internet, e-commerce services to the customers (Price, Verhulst and Morgan, 2013). Telecommunication system also helps in maintaining effective and open communication in the country. In addition, effective quality and control system is used by Chinese to focus on the quality and features of the products and services. Along with this, most of the companies maintain sustainable human resources management within the organization. It can also be successful strengths for the China in near future. In addition, Chinese people follow different customs and values as compared to westerns. The most popular games of China include cricket battling, badminton, ant cricket and Knucklebones. These games are well know and famous in China. Games, values, beliefs and customs are main characteristics of Chinese culture. China is one of the largest countries in the world for utilizing of resources at cheap labor and material cost (Maciocia, 2015). Along with this, the country is becoming leader in the technology innovation in term of textile manufacturing, aluminum, producing of steel and agricultural revolution. Apart from this, various innovative techniques and tools are being used by the country to beat the competitors in the world. China is a land of amazing landmarks and history for the world. Their culture is based on thousands of years of people and their history shows remarkable growth of the country (Zhou, Chen, Ma and Liu, 2013).

Conclusion

On the above mentioned study, it has been concluded that China is one of the biggest and oldest countries in the world, has provided different inventions to the people that have changed the way of mankind. Along with this, the country is known for wheat, medicines, rice, gunpower and papermaking products which are traded on Silk Road. The land of China is consists of hills, forests, mountains and deserts. Taosim, Buddhism, and Confucianism are main religion in China. The country’s progress shows that China will be superpower by 2050. On the other hand, China is expanding and exploring its cooperation with other countries in science and technology, culture, and education.

Along with this, the country’s tourism industry is fastest growing and flourishing in the world. All this make great contribution to make China extraordinary in today’s competitive world. It is a well developed and unique country and the methods used by the Chinese in their communication, culture, writing and religion are interesting and complex. International trade and investment are fastest growing and exploring in the country. The above mentioned analysis shows that the country’s economic and financial system is very strong and dynamic. In addition, China follows unique and effective culture to attract more and more people across the world. Tax system in China is also remarkable which makes different the country from the other countries. Although, the country is performing well and growing in the world but still China should focus on the education system to retain more people. In this way, the country might able to make a powerful country in the world by 2050. The history of the country shows that the country will become progressive and successful in coming years. Several new and innovative inventions are done by the country. Along with this, technology is great and amazing in China. Due to advanced technology, new inventions will be done by the country. As a result, the country will become successful and powerful in near future management .

References

Allen, F., Qian, J., Zhang, C. and Zhao, M., 2012. China's financial system: opportunities and challenges (No. w17828). National Bureau of Economic Research.

Ansar, A., Flyvbjerg, B., Budzier, A. and Lunn, D., 2016. Does infrastructure investment lead to economic growth or economic fragility? Evidence from China. Oxford Review of Economic Policy, 32(3), (pp.360-390).

Breznitz, D. and Murphree, M., 2011. Run of the red queen: Government, innovation, globalization, and economic growth in China. Yale University Press.

Brown, L.R., 2013. Eco-economy: building an economy for the earth. Routledge.

Carter, N. and Mol, A.P. eds., 2013. Environmental governance in China. Routledge.

De La Tour, A., Glachant, M. and Ménière, Y., 2011. Innovation and international technology transfer: The case of the Chinese photovoltaic industry. Energy policy, 39(2), (pp.761-770).

Domrös, M. and Peng, G., 2012. The climate of China. Springer Science & Business Media.

Fang, G., Tian, L., Fu, M. and Sun, M., 2013. The impacts of carbon tax on energy intensity and economic growth–a dynamic evolution analysis on the case of China. Applied energy, 110, (pp.17-28).

Fewsmith, J., 2013. The logic and limits of political reform in China. Cambridge University Press.

Hansen, M.H., 2011. Lessons in being Chinese: Minority education and ethnic identity in Southwest China. University of Washington Press.

Hou, Q. and Li, S.M., 2011. Transport infrastructure development and changing spatial accessibility in the Greater Pearl River Delta, China, 1990–2020. Journal of Transport Geography, 19(6), (pp.1350-1360).

Jarreau, J. and Poncet, S., 2012. Export sophistication and economic growth: Evidence from China. Journal of development Economics, 97(2), (pp.281-292).

Jia, C. and Jukes, D., 2013. The national food safety control system of China–a systematic review. Food Control, 32(1), (pp.236-245).

King, R., Marginson, S. and Naidoo, R. eds., 2011. Handbook on globalization and higher education. Edward Elgar Publishing.

Li, X., Takahashi, T., Suzuki, N. and Kaiser, H.M., 2011. The impact of climate change on maize yields in the United States and China. Agricultural Systems, 104(4), pp.348-353.

Maciocia, G., 2015. The Foundations of Chinese Medicine E-Book: A Comprehensive Text. Elsevier Health Sciences.

Manion, M., 2014. Retirement of revolutionaries in China: Public policies, social norms, private interests. Princeton University Press.

Naughton, B. ed., 2012. The China circle: Economics and technology in the PRC, Taiwan, and Hong Kong. Brookings Institution Press.

Price, M.E., Verhulst, S. and Morgan, L. eds., 2013. Routledge handbook of media law. Routledge.

Schaffer, R., Agusti, F., Dhooge, L.J. and Earle, B., 2011. International business law and its environment. Cengage Learning.

Shambaugh, D.L., 2013. China goes global: The partial power(Vol. 111). Oxford: Oxford University Press.

Unece,2016. Overview of China’s energy industry development[Online]. Available at https://www.unece.org/fileadmin/DAM/energy/se/pp/eneff/7th_IFESD_Baku_Oct.2016/ESCAP_Elec_CIS/1_H.Wan_CHI.pdf. [Accessed on 16th April 2018].

Worldmeters. 2018. China population [Online]. Available at https://www.worldometers.info/world-population/china-population/. [Accessed on 16^th April 2018].

Yabuki, S., 2018. China's New Political Economy: Revised Edition. Routledge.

Zhong, Y., 2015. Local Government and Politics in China: Challenges from below: Challenges from below. Routledge.

Zhou, F., Chen, J., Ma, G. and Liu, Z., 2013. Energy-saving analysis of telecommunication base station with thermosyphon heat exchanger. Energy and Buildings, 66, (pp.537-544).