‘On the basis of the actual and predicted development of China and India, critically discuss their chances to emerge as a new global power’
The simultaneous rising in China and India as a great power now aroused extensive attention. It has been regard as a fundamental change in geo-economics and geopolitics in the 21st century. Given the rising of international status and potential leading role of China and India in international affairs seemingly indicates an irreversible trend for emerging countries gradually replacing established powers, for instance, Western Europe and Russia. By assessing national economic growing, political strategy, technology development, military capacity and ethnic culture, it will accurately display the possibility of China and India becoming a new global power in the future.
1. The ‘Rise of China’
Western country labeled China as a ‘nascent superpower’ because of its decisive political position in Eurasia and its world second largest economy. However, the primarily precondition of China rising strength is attributed to its advantageous geographical location, a relatively stable region. China sits in Eastern Asia, and it covers roughly 9,600,000 sq.km, lived with approximately 1.35billion people. China borders 17 countries with total 22,117 km land boundaries and 14,500 km coastline (The world fact book, 2013). China was the biggest allies of the Soviet Union for the historical reason that both countries were the communist society, thus China defended its sovereignty supported by the Soviet Union through the Korean War, Sino-Indian War and Sino-Vietnamese War between 1950s and 1980s. During the cold war, the establishment of Sino-US diplomatic relations provided a great opportunity for Chinese people embarked on a historical journey of economic system reform, opening up and modernization drive, which now has been defined as the beginning of the ‘rise of China’.
By follow the path of socialism with Chinese characteristics, China moved from a conservative, centrally planned economy system to a market-oriented one and instilling being absorbed into economic globalization and capital market internationalization. China’s economy prosperity was reflected as the world’s second largest economy, the world’s largest exporter, ‘the world factory’. To avoid a possible potential economy recession due to economy bubbles burst, a radical redirection in china’s economy policy strategy was appeared to be emerging by the new government, thus a reasonable decelerating in GDP growth rate 7.5% in 2013 was projected. Although the nation showed a pleasant economy growing tendency, it has met risks and challenges from both internal and external. Internally, immaturity diversified banking system, property-value bubble, income disparity between regions and excess production capacity might cause an irreversible damage in China’s economy. Therefore, China should ‘retreat from economic stimulus policies, deleveraging in the financial sector and...