Can China Really Become A Number One Superpower In 10 Years?

CHINA 2

Running head: CHINA 1

Can China Really Become A Number One Superpower In 10 Years?

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Can China Really Become A Number One Superpower In 10 Years?

China continues to receive press coverage of its emerging superpower status. Various academicians and other experts consider China as the worlds are rising military and economic growth superpower. Indeed China has to a greater extent continued to dominate in the world as a technological giant, and a factory of the world. Its GDP has been rising; thus its economic growth has been steady (Knight, 2012). The previous factors have thus influenced people to pose the question, can China be the world’s superpower? Notably, China still struggles from various home born problems, lack the worlds support and underdeveloped financial sector. Consequently, this paper advocates that China cannot become the world’s superpower in 10 years.

First, China’s financial system is underdeveloped. It lacks credibility as it’s primarily affected by the government’s meddling. Besides, it rarely rewards investors with real and profitable returns. Additionally, it has been alleged that it limits competition. A nice example in this instance would be the failure of the Uber. The Chinese government accorded state-owned enterprise preference thus dealing a blow to the healthy competition that should have otherwise existed. Even though China has promised to take up actions in future to encourage foreign investment in the wake of the said accusations, the extent at which the government involves itself in the economy threatens to lock China out of the superpower race. As such, it is not likely that China will become a world’s superpower in the next 10 years.

Second, China lacks the support of the world. It is worth to note that that global support plays a great role in making any nation of the world a superpower. Scandals associated with Chinese firms such as Huawei makes it hard for other nations of the world to trust the Chinese companies. In essence, they become so cautious while dealing with them. Further, the world trusted the United States of America after world war 11 as evidenced by the fact that the US dollar was used as the reserved currency. In China’s case, Yuan is not even up for candidacy as the reserve currency. Lack of this pertinent trust spells doom for China. Its failure to tolerate western ideals continues to keep it away from other counties of the world. Consequently, becoming a superpower is just but a pipe dream for China.

Last, China experiences a lot of problems back home. Chinas extreme large population makes it strain in terms of natural resources. An effort to curb spontaneous and explosive population growth such as the policy that requires only one child has been largely unsuccessful. Consequently, its population is largely old and composed of males. Chinas youth continue to go abroad in such of better opportunities. Its middle class continues to suffer from income inequalities even though it is healthily growing. Until and unless china’s demographics are balanced across age and gender, China cannot be a worlds super power.

In conclusion, China’s rise has made many people believe that it is soon becoming the world’s superpower. Its great technological advancement, robust economic growth among other factors accounts for such holding (“4. “Where the Far West Becomes the Far East”: China,” n.d). However, the weak financial system, enormous population growth and lack of global support firmly threaten this otherwise excellent development. As such, it is not possible for China to become the world’s superpower in 10 years unless it addresses the above challenges.

References

4. “Where the Far West Becomes the Far East”: China. (n.d.). The New World Power. doi:10.9783/9780812202175.90

Knight, J. (2012). Economic Growth in China: Prospect. China’s Remarkable Economic Growth, 265-310. doi:10.1093/acprof:oso/9780199698691.003.0012