This article points out that China’s economic growth is unsustainable and may decrease in the future. Even though the rate is still going to be very high, China needs to have a higher rate so that it could become one of the most developed countries in the world by 2050. Such a decrease in growth can be explained by China’s exports, which fell 15.2 percent in September from a year earlier, the smallest decline in nine months. The nation has posted export declines for 11 consecutive months.
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This article is rather interesting, since for the first time in recent memory, it talks about China's commendable growth in a negative manner. It seems quite evident that China is loosing out on major exports to countries such as the United States in recent months, through the callback of products across various industries. China is struggling at this point in time, since they are receiving immense competitive pressure from their neighboring country - India. I honestly believe that if China's economy slows down in 2010, India will be the prime port of exports.
I believe that talking about China as a developed rich nation is far from being a reality. In fact I feel that although possible, it will definitely be a hard feet to achieve in the next century or so unless an extreme change in the global economic setup occurs.
But up until now, China has enjoyed high rates of growth for the past few years due to its immense size. However, if we talk in terms of GDP/capita rather than total GDP, a fairer picture of China would be posted in our minds. China has been, is and is going to be a developing nation for a while to come. The only way China can compete with the likes of developed nations is to continue to keep its exports up despite the economic downturn and also focus on technology since it already has a huge population.
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