Word: china
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Dates: during 2000-2009
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...Three decades later, the world witnesses the extraordinary results. China is now the world's third largest economy, after the U.S. and Japan, and recently surpassed Germany as the largest exporting nation. Its GNP is on course to overtake Japan's by 2010 and perhaps that of the U.S. by 2020. (Read "Why the China-U.S. Trade Dispute Is Heating...
...Much of this dynamic growth has been export-driven, benefiting the low- and medium-technology sectors of the economy. But China is beginning to move up the technological ladder and is becoming more innovative in certain sectors such as electronics and biotechnology. The country has become a manufacturing superpower and the workshop of the world, producing two-thirds of all photocopiers, microwaves and shoes; 60% of cell phones; 55% of DVDs; over half of all digital cameras; 30% of personal computers; and 75% of children's toys, plus a wide variety of other goods...
...result of its economic boom, China has amassed a staggering $2 trillion in foreign exchange - the largest reserves in the world - and is beginning to invest significant amounts abroad. Today, 37 Chinese multinational corporations rank among FORTUNE's top 500 global companies, up from just six a decade ago, while 450 out of the FORTUNE 500 American companies have production lines and a business presence in China. China has become the world's largest recipient of foreign direct investment. To fuel its economic boom, China's voracious and insatiable appetite for raw materials has led it to absorb large amounts...
...economic explosion has come at a high environmental cost. China's air and water are among the most polluted on earth and it is the leading emitter of greenhouse gases. The environmental nightmare is hurting public health. Malignant cancer now accounts for 28.5% of deaths while respiratory diseases account for 13.1%, according to the 2008 China Statistical Yearbook. China's growth has been dynamic, but it is also double-edged...
...time Deng and his compatriots came to power in 1978, China was traumatized, tired and alienated by 30 years of Maoist experiments and totalitarian controls. Deng's wisdom was to recognize that the state needed to retreat from society and the economy if the creative and entrepreneurial spirits of ordinary Chinese were to be unleashed...