China's economic performance has turned the country into a super power. The vehicle that has created the opportunity for China to emerge as a great power has been its superior economic performance.
China has had the world's fastest growing economy for the past several years. Even though the most pessimistic of analysts believe that China will likely grow at rate of at least 5 percent per year.
The real question for China is not whether it will continue to grow, but how quickly it will sustain to do so. There is no economic or systemic reason why China's economy could not continue expanding rapidly for at least the next decade.
Actually, China has to ensure its economic growth by having substantial national resources, a reasonably well- educated labor force, a large territory and population, also a high national savings rate.
Deng Xiaopng, China's leader, has made policy such as:
- China began to shift from a traditional planned economy to a socialist market economy.
- China embraced the international market, both for goods and capital as well as capital investment.
Replacement of inefficient entreprises , reformation of the market sector, and allowance for privatization of economic entreprises have all helped stimulate the domestic economy.
So, China becomes the world's largest economy by 2010. According to the International Monetary Fund (IMF), China is already the world's second largest economy.
President Jiang Zemin has established a three-goal blueprint for Chinese economic development for the next millenium:
1. the completion of a shift from Marxist economy to a market economy
2. move away from a policy that decides how much / how many should be achieved.
Emphasis is instead placed on productivity and more efficient investment based on market signal.
Creativity and incentives are the salient elements for the establishment of a lucrative enterprise.
3. the movement away from the rule by man to the rule by law.
It means solid progress can be made only when decisions are based on rules and regulations rather than on
man's unpredictable mind.
so... how about Indonesia, my lovable country??
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