Is China A Global Leader - 2903 Words

Is China A Global Leader? GEB-4890-905F14 Strategic Management / Decision Making Alexandra Little #22 Ryan Pennisten #26 Adalberto Frotman #10 Introduce China China, or People’s Republic of China, is a sovereign state located in East Asia. China spans 9.6 million kilometers making it the second largest country by land, only surpassed by Russia with 17.8 million kilometers. China is the most populated country on the planet with 1.35 billion people. Rich with history and tradition that goes back to ancient civilization, China has risen and fallen in power many times over. Within the last 30 years, China has become a dominant global leader once again and this has surprised many analysts due to their rapid success. Identify the†¦show more content†¦Being in the Guangdong province, which is on the southern coast of China where sea can easily transport goods, it is notable to inform that Shenzhen, Shantou, and Zhuhai are all located there. According to Secretary General of Boao Forum for Asia Long Yongtu, Modern-day China is characterized as having a market economy based on private property ownership, and is one of the leading examples of state capitalism. With 30 million counted private organizations expanding recently since the States economic liberalization, China still dominates in the strategic pillar sectors such as energy production and heavy industries. The Group of 7, G7, is a group consisting of the finance ministers and central bank governors of the seven major advanced economies as reported by International Monetary Fund. The countries include Canada, France, Germany, Italy, Japan, United Kingdom, and the United states. According to the IMF, China’s annual average GDP growth between 2001-2010 was 10.5%. Between 2007-2011, China’s economic growth rate was equivalent to all of the G7 countries’ growth combined. This was mainly due to a major housing bubble created by consumers and banks in the United States. China may have high productivity and low labor costs, however, their economy is highly energy inefficient; leading the world in energy consumed since 2010. The Chinese rely on 70% coal to supply their energy needs and according to BBC News they also surpassed