China impact on global economy

China's growing economy played a very significant role in the world's economy. Its decision to join

WTO has not only helped its country to prosper but also made great contribution to the world

economic development.

China is now the fourth largest in the world in terms of gross domestic product (GDP), contributed to 5.2% of the world economy growth. Examples of such nations that benefited from China's reform

policy and growth will be United States. China is now the second top trade partner of U.S. in 2006; Japan's largest importing nation as well as becoming number one in EU's exporting nation. With the ASEAN-China FTA agreement in place, China also made continuous exports to ASEAN countries.

Though its outputs contribute greatly to the world, its demands for raw materials is massive and

may cause environmental threat. Though China enjoys high economic growth rate, its domestic consumption is low, thus maintains a high national saving rate and more oversea investments.

China is seen to become the second largest economic nation in years to come.

From these sections below, you are able to find details of how China caused an impact on the global economy: