China's Path to Becoming a Superpower by 2050

This article discusses the factors that contribute to China's success and growth, including its economy, government, legal system, socio-cultural system, and technology. It explores how China's unique culture, strong political system, and favorable environment can help it become a superpower by 2050. The article also provides data on China's GDP growth rate, population, and other economic indicators. Students can access solved assignments, essays, and dissertations on Desklib related to this topic.

Running head: Global business
Global business

Global business
Table of Contents
Introduction.................................................................................................................................................3
Factors that help the China to be a most powerful in the world by 2050...................................................4
China economy........................................................................................................................................4
Government of China..............................................................................................................................7
Environment of China..............................................................................................................................8
Legal system of China..............................................................................................................................8
Socio-cultural system in China.................................................................................................................9
Technology in China................................................................................................................................9
Education system in China.....................................................................................................................10
Infrastructure in China...........................................................................................................................10
Energy in China......................................................................................................................................11
Tax system in China...............................................................................................................................11
Financial system in China.......................................................................................................................11
Climate in China.....................................................................................................................................12
Conclusion.................................................................................................................................................13
References.................................................................................................................................................15
2

Global business
Introduction
The main aim of this task is to explains and analyze that how will China be a most
powerful country in the world by 2050. Here is the discussion about the success and growth of
the country. China situated in the east of Asia. Its location and sea is beneficial to its manual
relations with many neighboring countries and it can take various advantages in terms of
exchanges with foreign countries. On the other hand, the paper explains the economic
development and legal system of the country. It depicts that how the country makes rules and
regulations to protect the rights of the people. China is the largest exporter and second biggest
importer in the world in terms of goods and services. It maintains unique travel destinations.
Along with this, China began a reform and opening program to enhance the rapid development
and economic growth. Political system, education system, culture, technology have been
explained in the task. The rapid growth and success depicts that China can be a superpower in
the world by 2050. The tax system of the country is also effective and unique. It protects the
rights of the women. Apart from this, some facts related to the success and growth of the country
has been explained in the task. The culture in China is unique and fascinating through which
country has been able to attract people widely. Further detail of the task has been discussed
below.
China is a unitary sovereign society in East Asia and it is one of the biggest populous
countries in the world with population of around 1.4103billion (2018). The country covers
approx 9,600,000 square kilometers and it is a third largest country measured by the total area
(Shambaugh, 2013). Along with this, China has the several neighbor’s countries in the world.
The country is number 1 in the list of nations measured by population. Approx 59.3% population
is from urban areas (Worldmeters, 2018). There are various factors which contribute in success
and growth of the firm. Some of the factors that help the China to be superpower by 2050 have
detailed below.
3

Global business
Factors that help the China to be a most powerful in the world by 2050
China economy
Prior to 1979, under the leadership of Chairman Mao Zedong maintained a unique and dynamic
economy. A large share of the China’s economic output was directed and controlled by the state
government. The GDP rate of the country is increasing day by day which shows that China can
be superpower country in the world (Breznitz and Murphree, 2011). The GDP growth rate of
China has been drawn below.
Figure 1. U.S and Chinese real GDP growth rates in 2010-2017 and projections through
2050
(Source: Economist intelligence unit database, 2018)
The diagram shows that the GDP of the country is increasing in today’s era. After the
various researchers it is observed that the country will be superpower country in the world by
2050. The per capital GDP in nominal dollars was $8,583 in 2017 in China. China’s economic
success sets an effective example in front of other countries. In this way, the country can attain
various advantages in future also (Brown, 2013).
China economy data
4

Global business
2011 2012 2013 2014 2015
Population (million) 1,347 1,354 1,361 1,368 1,373
GDP per capita (USD) 5,635 6,333 7,124 7,662 7,954
GDP (USD bn) 7,592 8,575 9,694 10,480 10,925
Economic Growth (GDP, annual
variation in %)
9.5 7.9 7.8 7.3 6.9
Consumption (annual variation in
%)
11.0 9.1 7.3 7.7 7.2
Investment (annual variation in
%)
24.0 20.6 19.6 15.7 10.0
Industrial Production (annual
variation in %)
13.9 10.0 9.7 8.3 6.1
Retail Sales (annual variation in
%)
17.1 14.3 13.1 12.0 10.7
Unemployment Rate 4.1 4.1 4.1 4.1 4.1
Fiscal Balance (% of GDP) -1.1 -1.6 -1.9 -1.8 -3.4
Public Debt (% of GDP) 14.7 14.4 14.6 14.9 15.5
Money (annual variation in %) 13.6 13.8 13.6 12.2 13.3
Inflation Rate (CPI, annual 4.1 2.5 2.5 1.5 1.6
5

Global business
2011 2012 2013 2014 2015
variation in %, eop)
Inflation Rate (CPI, annual
variation in %)
5.4 2.6 2.6 2.0 1.4
Inflation (PPI, annual variation in
%)
6.0 -1.7 -1.9 -1.9 -5.2
Policy Interest Rate (%) 6.56 6.00 6.00 5.60 4.35
Stock Market (annual variation in
%)
-21.7 3.2 -6.7 52.9 9.4
Exchange Rate (vs USD) 6.29 6.23 6.05 6.21 6.49
Exchange Rate (vs USD, aop) 6.46 6.31 6.15 6.16 6.28
Current Account (% of GDP) 1.8 2.5 1.5 2.3 2.8
Current Account Balance (USD
bn)
136 215 148 236 304
Trade Balance (USD billion) 154 230 258 383 608
Exports (USD billion) 1,898 2,049 2,209 2,342 2,272
Imports (USD billion) 1,744 1,819 1,952 1,959 1,680
Exports (annual variation in %) 20.2 8.0 7.8 6.0 -3.0
6

Global business
2011 2012 2013 2014 2015
Imports (annual variation in %) 25.0 4.3 7.3 0.4 -14.3
International Reserves (USD) 3,181 3,312 3,821 3,843 3,330
External Debt (% of GDP) 9.2 8.6 8.9 8.5 13.0
(Source: Focus economics, 2017)
Government of China
The government of China is authoritarian. The government has committed to focus and
monitor on the economic growth and policy decisions. The government of China is divided
among enormous bodies such as executive branch, the legislative branch, the national congress,
the state council and the Supreme Court. The legislative branch of the China’s government
encompasses the highest department of the communist party and the national people’s congress
(Zhong, 2015). The central military commission consists 11 members and it is liable for
monitoring and controlling the people’s liberation army and the people’s armed police. Along
with this, national people’s congress selects the chairman of the country. Along with this, a
communist system allows limited free trade. By using communist system, the country is
expanding and flourishing its business activities and operations across the world. It will help to
make a good image in near future. In this way, authoritarian government helps to build and
develop china effectively (Manion, 2014).
Political system in China
The political system of China is completely different from other countries. Recently, the
government of the country is promoting and enhancing the rule of law. Along with this, Chinese
constitution and legislation protect the rights of the human. The formal and informal rules and
regulations have been implemented by the Chinese government. As it can be a success factor for
7

Global business
China to be a superpower by 2050. The Chinese political system is based on morality instead of
legality (Yabuki, 2018). With the help of effective and strong political system, the country can
formulate a long term plan for national enhancement and development. Along with this, there is
less corruption in China as compared with Russia and India due to strong and effective political
system. In addition, the government is more adequate and responsible in such country. Thus,
country can easily face various future risks and challenges. It shall be noted that there is
personnel training and selecting system in the country which helps to attract more talented and
skilled people in the country. It also avoids waste of talented people in such country. In this way,
the political system of the country is strong and dynamic which can help the country to be
powerful nation till 2050 (Fewsmith, 2013).
Environment of China
The government of China is increasingly paying attention towards the environment. They
take care about the issues and barriers of the environment (Carter and Mol, 2013). The state
environmental protection administration was initiated by the government and environmental
protection act 1998 was made by the government. Along with this, the country also participates
in various activities which could reduce the negative impact of the climate change and global
warming. It is seen that the country maintains a favorable environment. The strong and favorable
environment helps an organization to start new business activities and operations in such country
(Schaffer et al, 2011).
Legal system of China
The China government has continuously set a complete law system for the foreign
enterprises to invest in China. The basic laws and regulations encompass three laws such as the
law on Chinese foreign equity joint ventures, the law on wholly foreign owned enterprises and
the law on Chinese foreign contractual joint ventures. It is seen that government of the country is
considering its existing rules, legislation and statues in according with the WTO. The China
follows socialist rule of law in the country. Along with this, China’s legal system is based on the
model of Civil law. In this way, the legal system of the country focuses on the freedom and
rights of people. It will help to make a bright country by 2050 across the world. The dynamic and
unique legal system also helps to conduct new business activities and operations in such country.
8

Global business
As a result, it will increase the profitability and revenue of the country in the world (Jia and
Jukes, 2013).
Socio-cultural system in China
The socio-cultural can play a significant role to make the country super powerful in the
future. China is one of the four ancient civilizations in the world as it also maintains profound,
unique and rich culture in the country. Along with this, Chinese culture is dynamic and diverse.
The Chinese culture includes heritage, festivals, the arts, traditions, language and symbols. The
Chinese performing arts include Chinese Kungfu, Beijing Opera and Chinese folk dance. In
addition, the country celebrates several festivals in all over the world which helps to make
unique China from other countries. Chinese uses reckoned and pictographic language commonly.
Every country maintains its symbols, as the same way China has several symbols includes the
red flag, table tennis, and the great wall. All these make China unique and beautiful as compared
to other countries. Chinese are talented and intelligent so as they can easily accept challenges and
risks. They are ready to accept new technologies and innovation. Now it is assumed that the
country can become more in coming year due to its unique and beautiful culture.
Technology in China
Science and technology is developing rapidly in the country since 1990. The country is
much advance in education, science and infrastructure. It has been observed that Chin is a leader
in the science and technology. The Chinese discoveries and Chinese innovations like the
compass, printing, papermaking and gunpowder are contributing in the economic development in
the Asia and Europe. China is a major leader who is providing wider contribution in research and
development. In 2012, the country spent approx one trillion yuan($164 billion) on research and
development (De La Tour, Glachant and Ménière, 2011). Therefore, the country can take various
advantages in the coming years by using science technologies. Science and technology will help
the country to address various issues such as pollution, and industrial issues. In addition, the
percentage of labor force in China is higher than in the United States. Along with this, the
country provides better wage and salary to scientists as compared with United States. The
Chinese scientists earn approx 25%, medical doctors earn more than 13% and lawyers earn 5%.
In this way, the country gives higher contribution in technology advancement which will help the
country to be a superpower nation in the world by 2050 (Naughton, 2012).
9

Global business
Education system in China
A state run system of public education in China is carried by ministry of education. All
citizens in the country attend education for at least 9 years. The education system of the China is
unique and effective. The education system of China is well know and reputed in the world. The
Chinese education system is divided into three categories that include kindergarten, primary
school and secondary school (Hansen, 2011). The Kindergarten and primary schools are run by
the local authorities in the country. It shall be observed that China’s education system is one of
the largest education systems in the world. There is 4% of the total GDP investment of education
is done by China in education system. It is noted that education system of China emphasizes and
encourages academic achievements and tests as compared with the western countries. In the
early age, children become multitalented due to effective and dynamic education system. It will
help the China to be a superpower by 2050. Also, it will help to make a beautiful and educated
country in the world (King, Marginson and Naidoo, 2011).
Infrastructure in China
The infrastructure of China is giving contribution in socio-economic development of the
country. Economic growth is facilitated in part by water, roads and power investments that help
the poor people to survive their life. It will also help to reduce poverty in the country.
Infrastructure also provides wide range of contribution in the environmental sustainable
development. Along with this, proper infrastructure facilities are being provided by the country
to initiate new business operations. In this way, the adequate infrastructure system helps in
protecting the environment of the country. Now it is stated that infrastructure helps the country to
become successful in the world. Along with this new IT infrastructure covers a wider
geographical areas and provides support to a variety of methods, techniques and diverse
protocols for communication. Apart from this, IT infrastructure also focuses on the global
operations and resources. Due to effective infrastructure system, optimum utilization of
resources can be done in the country (Ansar et al, 2016).
Energy in China
Since1978, China’s rapid economic development has bought about a growing demand for
energy. The government of China has introduced a number of reform policies and strategies to
attract investment, including pricing reform, legal reform, foreign exchange reform and
enterprise reform. To improve and enhance the performance of the energy industries, various
10

Global business
programs have been conducted by the government in the recent years. These programs would
have a favorable and significant impact on the energy sector. In addition, China is the largest
energy consumers across the world. Coal dominates the country’s energy structure due to energy
resources for a long time. Coal plays an effective role in the China’s energy supply (Hou and Li,
2011).
(Source: Unece, 2016)
Tax system in China
China adopts a progressive taxation system where the tax rate is 20% 40 for freelancers
in three levels and 3% to 45% for regular employees in three levels. Taxes provide a major part
of the revenue to the government in China. In this way, effective and unique tax system is
followed by the country to generate more and more revenue in near future. In this way, the China
can be a successful and powerful nation in the world (Fang et al, 2013).
Financial system in China
The financial system of the country is strong and unique which helps to differentiate the
China from the other nations. China is one of the biggest economies measured by nominal GDP
and it is the biggest economy by purchasing power parity. Along with this, China is the largest
manufacturing economy in the world. Along with this, it provides fastest growing consumer
market to the people. In this way, the country is playing a prominent role in international trade.
The GDP growth is 6.9%(2017) and labor force is 803.6 million(2017). Mining, iron, steel,
aluminum, apparel, petroleum, chemicals, cements and food processing are considered the main
11

Global business
industries of the country (Allen et al, 2012). The financial system of the country is attractive and
effective. To make China’s financially strong, import and export play a vital role in the country.
The country exported around $1.2 trillion goods and services across the world in 2010. The top
export partners of China include United States (17.7%), Sourth Korea (5.25), Hong Kong
(13.3%) Japan (8.1%), and Germany (4.1%). The country’s top import partners include United
States, Germany, Taiwan, South Korea and Japan. Import and export play an empirical role to
gain maximum profits and revenue in the marketplace. It can provide a good opportunity to the
China to be successfully in different countries (Jarreau and Poncet, 2012).
Climate in China
Climate is extremely diverse and unique in China. A peculiar and specific feature of
China is its monsoon nature. The rainfall season generally comes in the hottest season. In the
northeast, the summers are dry and hot and the winters are freezing cold. In the southeast, there
is ample of rainfall, semi tropical summers and cool winters (Li, X et al, 2011). In this way, the
weather and climate are differ in China as compared with other countries. It will help to attain
long term mission and vision (Domrös and Peng, 2012).
Now it is assumed that the China can become successful and powerful nation in the
world. These factors help the China to explore and expand its businesses globally. On the other
hand, telecommunication also plays a vital role in China for providing effective and unique
internet, e-commerce services to the customers (Price, Verhulst and Morgan, 2013).
Telecommunication system also helps in maintaining effective and open communication in the
country. In addition, effective quality and control system is used by Chinese to focus on the
quality and features of the products and services. Along with this, most of the companies
maintain sustainable human resources management within the organization. It can also be
successful strengths for the China in near future. In addition, Chinese people follow different
customs and values as compared to westerns. The most popular games of China include cricket
battling, badminton, ant cricket and Knucklebones. These games are well know and famous in
China. Games, values, beliefs and customs are main characteristics of Chinese culture. China is
one of the largest countries in the world for utilizing of resources at cheap labor and material cost
(Maciocia, 2015). Along with this, the country is becoming leader in the technology innovation
in term of textile manufacturing, aluminum, producing of steel and agricultural revolution. Apart
12

Global business
from this, various innovative techniques and tools are being used by the country to beat the
competitors in the world. China is a land of amazing landmarks and history for the world. Their
culture is based on thousands of years of people and their history shows remarkable growth of
the country (Zhou, Chen, Ma and Liu, 2013).
Conclusion
On the above mentioned study, it has been concluded that China is one of the biggest and
oldest countries in the world, has provided different inventions to the people that have changed
the way of mankind. Along with this, the country is known for wheat, medicines, rice, gunpower
and papermaking products which are traded on Silk Road. The land of China is consists of hills,
forests, mountains and deserts. Taosim, Buddhism, and Confucianism are main religion in China.
The country’s progress shows that China will be superpower by 2050. On the other hand, China
is expanding and exploring its cooperation with other countries in science and technology,
culture, and education.
Along with this, the country’s tourism industry is fastest growing and flourishing in the
world. All this make great contribution to make China extraordinary in today’s competitive
world. It is a well developed and unique country and the methods used by the Chinese in their
communication, culture, writing and religion are interesting and complex. International trade and
investment are fastest growing and exploring in the country. The above mentioned analysis
shows that the country’s economic and financial system is very strong and dynamic. In addition,
China follows unique and effective culture to attract more and more people across the world. Tax
system in China is also remarkable which makes different the country from the other countries.
Although, the country is performing well and growing in the world but still China should focus
on the education system to retain more people. In this way, the country might able to make a
powerful country in the world by 2050. The history of the country shows that the country will
become progressive and successful in coming years. Several new and innovative inventions are
done by the country. Along with this, technology is great and amazing in China. Due to
advanced technology, new inventions will be done by the country. As a result, the country will
become successful and powerful in near future.
13

Global business
References
Allen, F., Qian, J., Zhang, C. and Zhao, M., 2012. China's financial system: opportunities and
challenges (No. w17828). National Bureau of Economic Research.
Ansar, A., Flyvbjerg, B., Budzier, A. and Lunn, D., 2016. Does infrastructure investment lead to
economic growth or economic fragility? Evidence from China. Oxford Review of Economic
Policy, 32(3), (pp.360-390).
Breznitz, D. and Murphree, M., 2011. Run of the red queen: Government, innovation,
globalization, and economic growth in China. Yale University Press.
Brown, L.R., 2013. Eco-economy: building an economy for the earth. Routledge.
Carter, N. and Mol, A.P. eds., 2013. Environmental governance in China. Routledge.
De La Tour, A., Glachant, M. and Ménière, Y., 2011. Innovation and international technology
transfer: The case of the Chinese photovoltaic industry. Energy policy, 39(2), (pp.761-770).
Domrös, M. and Peng, G., 2012. The climate of China. Springer Science & Business Media.
Fang, G., Tian, L., Fu, M. and Sun, M., 2013. The impacts of carbon tax on energy intensity and
economic growth–a dynamic evolution analysis on the case of China. Applied energy, 110,
(pp.17-28).
Fewsmith, J., 2013. The logic and limits of political reform in China. Cambridge University
Press.
Hansen, M.H., 2011. Lessons in being Chinese: Minority education and ethnic identity in
Southwest China. University of Washington Press.
Hou, Q. and Li, S.M., 2011. Transport infrastructure development and changing spatial
accessibility in the Greater Pearl River Delta, China, 1990–2020. Journal of Transport
Geography, 19(6), (pp.1350-1360).
14

Global business
Jarreau, J. and Poncet, S., 2012. Export sophistication and economic growth: Evidence from
China. Journal of development Economics, 97(2), (pp.281-292).
Jia, C. and Jukes, D., 2013. The national food safety control system of China–a systematic
review. Food Control, 32(1), (pp.236-245).
King, R., Marginson, S. and Naidoo, R. eds., 2011. Handbook on globalization and higher
education. Edward Elgar Publishing.
Li, X., Takahashi, T., Suzuki, N. and Kaiser, H.M., 2011. The impact of climate change on
maize yields in the United States and China. Agricultural Systems, 104(4), pp.348-353.
Maciocia, G., 2015. The Foundations of Chinese Medicine E-Book: A Comprehensive Text.
Elsevier Health Sciences.
Manion, M., 2014. Retirement of revolutionaries in China: Public policies, social norms, private
interests. Princeton University Press.
Naughton, B. ed., 2012. The China circle: Economics and technology in the PRC, Taiwan, and
Hong Kong. Brookings Institution Press.
Price, M.E., Verhulst, S. and Morgan, L. eds., 2013. Routledge handbook of media law.
Routledge.
Schaffer, R., Agusti, F., Dhooge, L.J. and Earle, B., 2011. International business law and its
environment. Cengage Learning.
Shambaugh, D.L., 2013. China goes global: The partial power(Vol. 111). Oxford: Oxford
University Press.
Unece,2016. Overview of China’s energy industry development[Online]. Available at
https://www.unece.org/fileadmin/DAM/energy/se/pp/eneff/7th_IFESD_Baku_Oct.2016/
ESCAP_Elec_CIS/1_H.Wan_CHI.pdf. [Accessed on 16th April 2018].
Worldmeters. 2018. China population [Online]. Available at
http://www.worldometers.info/world-population/china-population/. [Accessed on 16th April
2018].
15

Global business
Yabuki, S., 2018. China's New Political Economy: Revised Edition. Routledge.
Zhong, Y., 2015. Local Government and Politics in China: Challenges from below: Challenges
from below. Routledge.
Zhou, F., Chen, J., Ma, G. and Liu, Z., 2013. Energy-saving analysis of telecommunication base
station with thermosyphon heat exchanger. Energy and Buildings, 66, (pp.537-544).
16