China's success story is an "economic miracle" driven by market-oriented reforms started in 1978, transforming it from a poor, isolated nation into the world's second-largest economy by integrating with global trade, becoming a manufacturing powerhouse ("Factory of the world"), and lifting hundreds of millions out of poverty through massive infrastructure investment, technological leaps (like 5G, AI), and a shift towards high-quality, digital development, though this rise brings geopolitical complexities.
The three reasons for China's success: education, education and education. Education as a long-term strategy explains China's success in overcoming the challenges of its three Ds: demographics, debt and deflation, allowing it to become the new global leader.
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There has been great focus on China's growing economic activity on the global stage, in particular where it has been in competition with the United States: for example, the establishment and large-scale expansion in countries joining the Asian Infrastructure Investment Bank in contrast to traditional western ...
The Four Great Inventions are inventions from imperial China that are celebrated in Chinese culture for their historical significance and as symbols of ancient China's advanced science and technology. They are the compass, gunpowder, papermaking and printing.
Ancient China was a land of invention. For centuries, China was much more advanced than most other countries in science and technology, astronomy and maths. The Chinese invented paper, the magnetic compass, printing, tea porcelain, silk and gunpowder, among other things.
China's long history has seen some extremely important inventions emerge, most noticeably gunpowder, paper making, printing and the compass, which, in the words of Roger Bacon, changed the whole appearance and status of things in the world.
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China has sustained growth due to export relations, its manufacturing sector, and low-wage workers. It was the only major world economy to experience GDP expansion in 2020, with a growth rate of 2.3%. However, the country posted one of its worst economic performances in decades in 2022 due to the COVID-19 pandemic.
China's "0.1% rule" refers to its 2025 export controls that require licenses for products containing 0.1% or more (by value) of certain Chinese-origin rare earth elements or technologies, extending China's regulatory reach globally to materials like magnets, semiconductors, and defense components, even if manufactured outside China. This extraterritorial control, similar to the U.S. Foreign Direct Product Rule, aims to leverage China's dominance in rare earth supply chains for strategic influence, impacting high-tech industries by requiring approval for exports and potentially disrupting global supply chains.
These four creatures are also referred to by a variety of other names, including "Four Guardians", "Four Gods", and "Four Auspicious Beasts". They are the Azure Dragon of the East, the Vermilion Bird of the South, the White Tiger of the West, and the Black Tortoise (also called "Black Warrior") of the North.
Chinese literature contains four masterpieces known as the Four Great Classical Novels (四大名著). Journey to the West, Outlaws of the Marsh, Romance of the Three Kingdoms, and Dream of the Red Chamber were written during the Ming and Qing dynasties.
China's dramatic economic growth in the 21st century has made it not only the second largest economy in the world but also a powerhouse in the global energy system.
Yes, China has one of the world's highest homeownership rates, often cited as around 90% or even higher (87% urban, 96% rural), driven by post-1998 housing reforms that privatized public housing and strong cultural emphasis on property as stability and a prerequisite for marriage. However, this figure can be misleading; it primarily counts those with urban household registration (hukou), often excluding many migrant workers, and while ownership is high, many face significant mortgage burdens, and the land itself remains state-owned.
The objective is for China to become a “modern socialist country that is prosperous, strong, democratic, civilized, and harmonious.”, including other political, economic, social, and cultural dimensions.
To be sure, the growth of the private sector, wage and price liberalization, the export sector, and openness to foreign investment each played a critical part in China's rise. And growth really did take off once Deng Xiaoping's signature policy of Reform and Opening kicked in.
Reform and opening-up (Chinese: 改革开放; pinyin: Gǎigé kāifàng), also known as the Chinese economic reform or Chinese economic miracle, refers to a variety of economic reforms in the People's Republic of China (PRC) that began in the late 20th century, after Mao Zedong's death in 1976.
A reflection of China's economy
China's economy has been grappling with a prolonged housing crisis, high unemployment, high local government debt, and weak consumer demand. Those headwinds hit its superrich, too.
Despite its perceived military strength, deficiencies have been noted in Russia's overall combat performance and its ability to effectively project hard power. The ongoing Russo-Ukrainian war has exposed weaknesses such as endemic corruption, rigid command and control structure, inadequate training, and poor morale.
The United States is consistently ranked as having the #1 most powerful military in the world for 2025 by organizations like Global Firepower and Business Insider. This ranking stems from its massive defense budget, advanced technology, global power projection, and dominance in air, sea, and cyber warfare, though China has the largest number of active personnel.
Global Firepower ranked the world's most powerful militaries for 2025. Military strength was measured by assets, defense budget, geography, and natural resources. The United States, Russia, and China lead the list, reflecting global military power trends.
Many are surprised to realize that modern agriculture, shipping, astronomical observatories, decimal mathematics, paper money, umbrellas, wheelbarrows, multi-stage rockets, brandy and whiskey, the game of chess, and much more, all came from China—in additional to papermaking, printing, and gunpowder.
Around 800 C.E., gunpowder was invented by the Chinese, who quickly adapted it for military use. For five hundred years, China led the word in gunpowder technology, but it was Europeans who brought guns to their most lethal potential.