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"For decades, China was viewed by U.S. strategists as a struggling communist nation with a massive population that really did not represent any kind of strategic threat to the United States at all. But that has now dramatically changed. Thanks to trade agreements that are extremely favorable to China, the "Great Dragon" has risen and has become a formidable economic machine. Already accounting for a fifth of humanity, this new economic muscle has also allowed Beijing to dramatically reform and upgrade the Chinese military. Now China is without a doubt a world superpower and it stands poised to be a major player on the world stage during the last days. So just how powerful of an economic force is China now? Well, in 2010 China is expected to replace Japan as the world's second-largest economy. Not only that, but China has overtaken Germany and is now the biggest exporter in the entire world. Let that sink in for a bit. China sells more stuff to other countries than anyone else in the world. That fact alone is enough to make China an economic superpower. Citizens of the U.S. like to think of themselves as the greatest economic superpower, but the reality is that the average American is drowning in debt. In fact, the average American piled up even more debt this past Christmas season buying cheap plastic stuff made in China to exchange with family members around the ole Christmas tree."
Posted from Diigo. The rest of my favorite links are here.
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