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Examine the significance of the effect of the Chinese economy to the future prosperity of developed and developing countries.
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Examine the significance of the effect of the Chinese economy to the future prosperity of developed and developing countries There is much speculation as to China's economic future, underlined of late by their entry into the World Trade Organization (WTO). There is no doubt that China has the potential to become one of the most economically powerful nations in the world as it has access to vast numbers of employees in the labour pool. China's population now exceeds the one billion mark. In fact, it is predicted by the WTO's next director-general, Supachai Panitchpakdi, that if all goes well in the subsequent period after China's entry into the WTO, the country will become one of the two or three biggest economies in half a century. This has unsurprisingly lead to widespread alarm, and even panic, around the Western developed World. Some see it as an economic disaster for them; after all, how...
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