China in the 21st Century
China’s economic growth has provided Chinese and Western companies with plenty of lucrative opportunities. Yet is remains unclear how the business environment will be affected by a myriad of serious challenges the country is facing.
The rise of China is perhaps the single most important event of the 21st century. The country’s vast domestic market continues to carry a lot of potential for foreign and domestic investors. While China’s recently released GDP data of 7.4% growth for 2014 mark the country’s slowest rate in over two decades, it is still faster than in any other big economy.
However, the Chinese leadership is confronted with many challenges including a shortage of resources, unfavorable demographic developments, social inequality, and environmental issues. It remains to be seen how the leadership will manage to transform the Chinese economy from a manufacturing to a consumption and innovation-based one.
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