China’s Rapid Economic Growth

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Naeem Kandwal
The rise and fall of nations is a natural and certain process. Just as a human being goes through the process of birth, childhood, adolescence, old age and death, so do nations rise and fall. History is full of examples of the rise and fall of nations. We have examples of nations like Spanish Empire, Achaemenid Empire, Byzantine Empire, Han Dynasty, British Empire, Roman Empire, The Russian Empire and Mongol Empire. History testifies that the most powerful nations and states of the past are found in the books only in shape of words. It is a living example of the decline of Nations. How did U.S. become a superpower? According to some historians, the United States became a superpower in World War II. Some are of the opinion that the United States had the opportunity to become the most powerful state after the World War I. The war between the United States and Spain lasted for five months. It was a bloody confrontation. After this war, the world scene changed and the United States succeeded in establishing dominance for thousands of miles. World war II proved to be a turning point in the history of the U.S. It became Super Power. Now the situation has been changed radically. According to EU officials, the balance of power has shifted from west to east. America’s traditional rival, China, is making progress by leaps and bounds. Asia is the world’s largest continent in terms of population and area. America’s dominance over Asia is somewhat lost. Compared to the United States, China has many powerful allies like Iran. The United States has lost its dominance in the Indian Ocean and the Pacific. Similarly, America’s largest allies have opposed it in the UN Security Council. The U.S. allies have opposed its policies on JCPOA (Iran nuclear deal). This is a great change in global politics. The U.S. has failed in its 18-year-long war in Afghanistan. The U.S. and its allies have been forced to withdraw from Afghanistan. The withdrawal of the U.S. and allied forces from Afghanistan has been completed to some extent. The U.S. Government had announced that it would establish military bases in Afghanistan’s neighboring countries. Pakistan has refused to give military bases to the United States. This is also a major shift in world politics. Sovereignty and freedom is a fundamental right of every nation. Unlike the United States, China pursues a policy of non-interference. The United States always interferes in the affairs of other countries. Chinese people believe in the sovereignty of all other countries. They believe that development is a fundamental right of every nation. They consider aggression against weak countries illegal and immoral. They always opposed it, while the United States uses it as a weapon. China’s rapid innovation and economic growth are highly commendable. On the other hand, it is a wake-up call for the United States. China is growing faster than the US. The U.S. became a superpower on the back of military strength and War victories, but now the situation is completely different. Now it needs to be the world’s largest economic power to become a superpower. China seems to be lagging behind the United States in the economic field. The economic situation during the Covid-19 is in China’s favor. The U.S. economy has been hit hard. China’s rapid economic growth and emergence as a major economic power have given China’s leadership increased confidence in its economic model. The GDP reports show that the U.S. fell by 2.3% in 2020, while China grew by 2.3%. The U.S unemployment rate surged above 14% in April. According to some Economists, If the Chinese currency strengthens further to around 6 yuan per U.S. dollar, China could surpass the U.S two years earlier than anticipated. According to economists, China will become the world’s largest economy by 2028. China could overtake the U.S. as the world’s largest economy earlier than expected. So, we can say that China will become the Super Power by 2026.