Word: globalization
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Dates: during 2000-2009
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...Expo next year will similarly dazzle. The 60th anniversary celebration in Beijing on Oct. 1 will impress, if not frighten, the world with an arresting display of military hardware and goose-stepping soldiers. Less visible is the fact that China is the first major economy to recover from the global recession and, indeed, is leading the world out of it. (Read "Mission Accomplished. Now What...
...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...
...widespread. Some 21 million students attend university today, while an estimated 300,000 study abroad every year. Approximately 206 million Chinese children attend primary and secondary schools. Basic literacy is almost universal in China today, while it was roughly 20% in 1949. Still, China remains a poor country by global standards: some 207 million people still live below World Bank poverty levels on less than...
...consideration of China's transformation since 1949 must recognize the dramatic improvement in China's global posture. Sixty years ago the new People's Republic was cut off from the world, having diplomatic recognition only from a relatively small number of nations. It was excluded from the U.N. It soon became embroiled in the Korean War and the Cold War, which brought further isolation. Despite some marginal trade with Western Europe following the 1954 Geneva Conference on Indochina, China was cut off from international trade, finance and aid. As a result, its economy stagnated...
...decades later, China has fully embraced globalization at home and has burst onto the world's stage in a largely positive fashion. It now has both interests and a presence in parts of the world completely new to China - such as Latin America and the Middle East - and enjoys rising international prestige. Beijing has generally managed its relations well with the major world powers: the U.S., Russia and the E.U. It has transformed its regional diplomacy in Asia, reasserted a role in Africa and become much more deeply engaged with international organizations and across a range of global-governance issues...