RRJ 5

Reference:

Chinadaily.com.cn. (2010, Oct 5). China, a developing nation with growing pains. Returned on 10/5/2010 Xinhua From :
http://www.chinadaily.com.cn/business/2010-10/05/content_11378550.htm


Summary:

According to the article, an Increase in the GDP of China over the past three decades and its success in overcoming the global financial problem increased the confidence of the people and urged them to work. Furthermore, China is not a developing country but It has become a developed country. The increasing the GDP of China is a warning for some countries, especially the largest countries, although its annual per capita income cannot be compared to that of other countries. Sheng Hong, director of the Beijing-based Unirule Institute of Economics, said China, in order to continue its growth, must avoid arrogance and become more modest.


Reaction:

In my opinion, major industrial countries could not overcome the financial crises in the last five years, except China, which turned this crisis in their favor to earn the respect of everyone, especially competitors. It seems that China is moving in the right way to sweep the international market, where it has full ingredients such as workforce, and it seems it can deal with financial crises and harnessed it to their advantage, as happened in recent years. However the crisis was a real test for China and the resilience of the base on which they depend.