Economy in China

As Christmas coming closely, it means one year is passing away and the new year coming soon, and China has participated in WTO for five years, facing the critical judgment from the international organization for its commitment and responsibility. All newspapers and magazines flood with data and criticism.

Some economist prefigured, that as for China has got huge rise, more than 10 percent for the third year in succession, according to Chinese statistics, the trend would be unstoppable and unsustainable in the next year. The leadership team of the president and the premier seems to apply an appropriate answer to the intergrade test, even at the hardest time of Sars virus. However under such glorious achievement, there are also many pressing issues. Domestically, the rich-poor gap has grown so large and quickly in recent years that the country is now more unequal than the US and Russia. According to a World Band study, the income of 10 percent of peasants decreased by 2.5 percent in the two years from 2001, comparison to the rapid economic growth. Contrary, it also generates thousands of millionaires and large members of middle-class in large cities on the coast. Another significant issue is environmental degradation. High improvement of economy need more raw materials such as oil from Africa and good relationships with market fellows abroad. And that is one of the reason for a single week in November, welcoming 10 south-east Asian leaders and senior leaders from 48 African countries. All these problems might make China to slow the pace of economic growth slightly next year, to about 9.5 percent or so.

On the other hand, others accentuate much more opportunities than challenges and state that the world might underrate the economic growth. For political reason, it almost has been established stable relations of neighborings. And the financial crisis gave out earlier, haven't caused disaster in many industries as they foretold at the beginning year in WTO, but intrigued reform of country-owned cooperations. And even in car industry, China will replace Japan to become the vehicle fabrication of Rolls-Royce to be the third market in the world. Also the central government's policy emphasizes on the health and education reform and social welfare. At the same time, it urges the country to adjust legal system to encounter the request of new economic rules. All these convince the great success of China. In future, it seems both enterprises and people quickly adapt to the new rules and much serious competitive environment and have learn great on how to become an international companies. When it comes to the future economy, in the short to medium term, the rapid growth will in all likelihood continue, with high investment rate, swelling exports and healthy local consumption.

But to most majorities, the citizens and farmers feel little about the improvement of living standards according to the economic increase. It means the government should pay more attention on the basic reform and social welfare. We should not be obsessed by the great achievement, but support the company to enhance the competitive ability and take more social responsibility, which is now very popular conception in the world.