EU Wednesday Webinar- 'China: a strange superpower in the making'
China is no longer the developing country it once was. Beijing’s weight in global affairs is mounting by the day as it stands at the helm of the world’s most successful economy and displays ever more financial prowess.
In the past 30 years the Chinese economy has quadrupled in size and some expect it to double again over the next decade. China’s military clout is equally on the rise. In 2008 it evolved into the world’s second highest military spender. On these accounts, China is increasingly perceived as the only country emerging both as a military and economic rival of the US, and thus generating a fundamental shift in the global distribution of power and influence.
While this is true, China still faces many weaknesses and challenges. Its military power, in spite of rapid modernisation, continues to lag behind America’s, especially in terms of power projection capability.
So China is both weak and strong. The great unknown is whether China’s successful trajectory is sustainable over the decades to come. Whatever the outcome will be, China is most likely to be a strange superpower.