China - a rising superpower

• Since 1978, the standard of living of most people in China has tripled
• In 1976 peasant families were allowed to keep for themselves anything they produced over the state quota. This responsibility system resulted in an almost immediate leap in food production.
• China is the world's top 2 military spenders
• After Deng died in 1997 and Jiang Zemin became the leader, China saw major improvements in its diplomatic standing and economic strength
• Despite the Asian financial crisis of 1997-8, China's GDP has continued to grow by 8% a year.
• China's demand for raw materials for this economic boom had a major impact on world markets in oil, iron, ore, metals, petrochemicals, and machinery
• One of the largest of China's infrastructure projects was the Three Gorges Dam, the world's largest hydroelectric plant
• Despite rapid change, the structure of the Chinese economy still has the character of a poor developing country
• China has become the world's leading manufacturing centre.