China's Economic Success and Rise as a Great Power

China's economic success has been linked to its rise as a great power since 1978. Here is an explanation of how this link came about:

Reforms and Opening Up Policy

- In 1978, China's leader Deng Xiaoping launched the "Reforms and Opening Up Policy", which marked a major shift in China's economic and political policies.
- The policy aimed to modernize China's economy by introducing market-oriented reforms, encouraging foreign investment, and promoting trade with other countries.
- This policy helped to unleash China's economic potential, as it allowed for the development of a more efficient and dynamic economy.

Economic Growth

- As a result of the Reforms and Opening Up Policy, China's economy grew rapidly, with an average annual GDP growth rate of 9.8% between 1978 and 2018.
- This economic growth helped to lift millions of people out of poverty and created a large middle class, which in turn fueled domestic consumption.
- China's economic growth also made it an attractive destination for foreign investment, which further boosted the country's economic development.

Global Trade

- China's economic success has been closely linked to its integration into the global economy.
- China has become the world's largest exporter of goods and the second-largest importer of goods, with its trade volume reaching $4.6 trillion in 2020.
- China's participation in global trade has helped it to gain access to new markets and technologies, as well as to establish stronger economic ties with other countries.

Rise as a Great Power

- China's economic success has enabled it to increase its global influence and become a great power.
- China is now the world's second-largest economy, with a GDP of $14.3 trillion in 2019, and is projected to overtake the United States as the world's largest economy by 2028.
- China's rise as a great power has also been fueled by its military modernization, diplomatic initiatives, and growing soft power.

In conclusion, China's economic success since 1978 has been closely linked to its rise as a great power. The Reforms and Opening Up Policy, economic growth, global trade, and military modernization have all contributed to China's emergence as a major player on the world stage.