With its expanding economy (already the second largest in the world), its population of more than 1.3 billion, its place at the core of the G20, its $2.4 trillion in foreign exchange reserves, its trade surplus, its nuclear weapons and modernising military forces, its permanent seat on the UN Security Council and its ability to dispense cash without conditions to poor countries in return for the raw materials it gobbles up, China will become steadily more important in the world. It will not collapse. It is not the great exercise in smoke and mirrors depicted by some writers or a giant Ponzi scheme as posited by hedge fund bears. But neither will it rule the world for reasons that lie in its inner complexity, and complexes.
About Jonathan Fenby
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Published January 1, 2012
by Simon & Schuster UK.
Political & Social Sciences.