China Challenge at the Global Market

The economy of the People's Republic of China (PRC) is the fourth largest in the world and it has the worlds fastest – growing large economy. For last five years Chin’s economy is rising around 10% per year. State economy expanded by 10.7% in 2006, marking the fastest growth since 1995. China's economy continues to be powered by a huge flow of investments, and a boom in exports that generated a trade surplus of 177.47 billion USD last year, and its economic output for this period of time estimated 2.68 trillion USD.
Today China is the largest producer of coal, steel and cement, the second largest consumer of energy and the third largest importer of oil. Companies in China manufacture two thirds of the world’s copiers, microwave ovens, DVD players and footwear.
In The West many predicted that after rapid economic growth the rise of China national economy will calm down and government would concentrate to inner affairs of state. However nothing like this happened and state continuing show sharp development in many areas of the international trade. Obviously China have benefited from globalization and continuing to increase economic pressure to other major players. Now we can talk not just about competition between the major economic powers but of interdependence between them, too. Today China economic security more and more influences overall safety of the global market.
This paper is divided in three chapters. In the first chapter are outlined the major aspects of China economic development. The second chapter discusses China economic relations with USA and other major economic powers and its global hunt for energy resources. …