Is China Rising?

As reports in China have shown, China's global ambitions and power are considerable. In terms of economic size, it's ahead of the United States, and that's in some ways, of course. But in terms of per capita income, China doesn't rank very high, with perhaps as many as 200 million Chinese living below the international poverty line, and the plunge in China's stock market showing that its growth may be quite fragile.

China is different from other developing countries. China's uniqueness lies not in its size, but in its capabilities. I don't want to tout government institutions that have been plagued by corruption and infighting. But Chinese government institutions are less like other middle-income countries and more like low-level rich countries.

We shouldn't be surprised, therefore, that China can effectively implement complex international initiatives, such as the creation of the Asian Infrastructure Investment Bank, and we should welcome China's approach to play a more significant role on the international stage.

Meanwhile, the world has reason to expect China to continue to open up its economy. China has not made much progress since joining the World Trade Organization. China's tariffs on goods are not high; the main problem is in other areas.

For outside observers, China appears to be an economic behemoth that is playing an increasingly important role in development aid that must be accompanied by the strict rules followed by industrialized nations. This view seems plausible on the surface, but it ignores several important facts.

China's foreign development programs are an ordinary source of tax revenue for China, and by following the realities and substantial cost standards of development assistance in industrialized countries, the costs will only further increase the burden on the Chinese people, many of whom lack basic social services and security.

Summary

For each and every one of us, China will not rise if the standard of living is not at the level of the developed countries, and it can be said that China's rise is the ultimate analysis of a happy life for the people of every country.