China - Growth and Its Challenges

The extent to which China will be affected by the subprime loan crisis and the current world recession is of great concern to the Chinese government. China has experienced tremendous economic, growth and economic and political change since the introduction of its Open Door policy in 1979. Indeed China's rise to world prominence as an extremely successful player in world trade has to a certain extent been eroded the economic supremacy of the West.1China's current economic position could surpass that of the West in light of the current economic conditions.