| Forbes: China Is No. 1 | |
|---|---|
| Mar 2, 2008 03:50 |   |
 | At the critical moment, the whole world is staring at China once again. How long does it take for China to become full-fledged? Neither the Chinese decision-makers nor the outsiders can give a definite answer. The old question " Does the future belong to China? " was put forward again in the " Dawn of New Dynasty"( outside's view of China). On February 26, Forbes published an article written by Brian Wingfield, stating that China is No.1. Has China been No.1? Will China become No.1? And in what areas? Is it for real that the whole world is viewing China as No.1? Or it is just flattering? Does the rest of the world have some deliberate and malicious intentions? This is the most possible questions occured to every Chinese after reading the articles. After all, the author finds some seemingly cohesive proofs to justify his conclusion. I appreaciate the author's idea in illustrating the areas where "China Is No.1". |
| Mar 2, 2008 03:57 | #1 |
| In order to present a full picture, I have to borrow the lead of the author's writing in the following. Please give full atribute to the author. For the full text, you can follow this link: http://www.forbes.com/ >>China Is No. 1 Brian Wingfield, 02.26.08, 10:00 AM ET Washington, D.C. - China's a big-number nation. The world's largest population (1.3 billion people). The world's most valuable company ( PetroChina). The fastest-growing economy (9.7% rate annually since the 1970s), which will probably surpass Germany as the world's biggest merchandise exporter in 2008. What's more, when researchers at Georgia Tech recently graded the high-tech competitiveness of 33 countries on a 100-point scale from 1996 to 2007, China skyrocketed to the top ranking while the U.S. fell from its 1999 peak. If this trend continues, China could soon replace the U.S. as the main engine of the world's economy, the study suggests. Small wonder pundits have long said the 21st century belongs to China. And perhaps there's no better way of getting a sense the country's size and ambitions than by looking at the numbers. << |
| Mar 2, 2008 04:01 | #2 |
| Areas Where China Is No. 1 (Statistics from Forbes.com) Technological Competitiveness No. 1: China No. 2: U.S. If China retains its competitive edge in hi-tech exports, it could soon replace the U.S. as the main driver of the global economy, says a 2008 report by Georgia Tech researchers. The study graded 33 nations' technological competitiveness on a 100-point scale. China reached the top position for the first time in 2007.  |
| Mar 2, 2008 04:03 | #3 |
| Foreign Currency Reserves No. 1: China No. 2: Japan China's trade surplus grew by a record 48% in 2007, according to the country's central bank. As a result the country has the largest store of foreign exchange reserves in the world, about $1.53 trillion as of December. (Japan's are just shy of $1 trillion. About $200 billion of this is invested in a sovereign wealth fund, the China Investment Corp.)  |
| Mar 2, 2008 04:05 | #4 |
| Energy Consumption No. 1: U.S. No. 2: China The International Energy Agency predicts that China could surpass the U.S. as the world's largest consumer of energy soon after 2010. China increasingly relies on coal and imported oil to feed its growing energy appetite. One bright spot: The government aims to obtain 15% of its energy from renewable fuel sources by 2020  |
| Mar 2, 2008 04:07 | #5 |
| Most Valuable Company No. 1: China (PetroChina) No. 2: U.S. (ExxonMobil) PetroChina's market capitalization soared past $1 trillion when it debuted on the Shanghai Stock Exchange in 2007. That made it twice as valuable as the world's second-largest company, U.S.-based ExxonMobil. However, PetroChina trades at a much lower valuation on other stock exchanges, and its profits are a fraction of Exxon's. Consulting firm PFC Energy recently estimated PetroChina's market cap to be $723 billion.  |
| Mar 2, 2008 04:08 | #6 |
| Gold Production No. 1: China No. 2: South Africa In 2007, China surpassed both South Africa and the U.S. as the world's largest producer of gold, according to GFMS, a London-based precious metals consulting firm. Low production costs and record gold prices are contributing to a Chinese boom in bullion. The government says that from 2006 to 2010, it plans to increase its holding of gold by 600%.  |
| Mar 2, 2008 04:08 | #7 |
| Merchandise Exports No. 1: Germany No. 2: China According to the World Trade Organization, China began to overtake the U.S. as the world's second-largest merchandise exporter in the second half of 2006, even though the U.S. held the No. 2 spot overall that year. China produces more textiles and clothing than any other country in the world. Official statistics aren't in yet, but China undoubtedly passed the U.S. in merchandise exports throughout 2007, which would bump the U.S. to the No. 3 spot.  |
| Mar 2, 2008 04:09 | #8 |
| National Savings Rate According to the World Bank's latest figures, China saved 50% of its national income in 2007, by far the highest rate among the world's major developing or industrialized countries. That's a problem because it shows that economic growth is lopsided--too heavy on exports and investment, not enough consumption. China's citizens save about 25% of their net pay (in the U.S., this rate is less than 1%), but Beijing wants to see more spending, less saving.  |
| Mar 2, 2008 04:11 | #9 |
| Carbon Emissions No. 1: China No. 2: U.S. A 2007 study by the Netherlands Environmental Assessment Agency found that China's carbon dioxide emissions surpassed those of the U.S. by 8% in 2006. The main reasons: increases in cement production and coal consumption. According to the World Bank, 20 of the world's 30 most polluted cities are in China.  |
| Mar 2, 2008 21:32 | #10 |
| For most parts of the article, I agree with the author, but only one thing, I doubt if China is No.1 in the area of Carbon Emission. Probably, there will be more areas where China is No. I. The author forgot the most important thing that China's population is No.1. All these No.1 will be melt away by the oversize of 1.3 billion. |
Page 1 of 2 < Previous Next > Page:
Post a Reply to: Forbes: China Is No. 1
Copyright © 1998-2025 All rights reserved.