Rethinking Imperial Power in Global Times Essay

Rethinking Imperial Power in Global Times - Essay Example The two countries’ economies are among the fastest growing economies of the world. China and India have sought to make good international relations. Countries such as the United States are concerned about what the international relations of China and India will result into, in future, in terms of global affairs. This paper analyses economic development, military advancement and political growth of both India and China to determine how the two countries may influence the world in future. Therefore, based on the actual and predicted development of China and India, the paper critically evaluates the countries’ chances to emerge as a new global power. Located in the South East of Asia, China is the third largest country in the world, following Russia and Canada (Richardson, 2007, p, 6). China has a permanent seat on the United Nations Security Council, and can therefore, influence major global issues (Callahan, 2005, p, 701). The United States could be the largest and most powerful economy in terms of defence technology, but the United States does not contribute towards changing the global economy as much as China does. Based on China’s economy, the country has been doing well on every aspect of economic development. For instance, China dominates the roads construction sector in the world and manufactures almost every product. To be a bit specific, most consumer electronics are manufactured in China. That is why in every household, there is a product made in China. This is a goal that the country had set long time ago that every household should at least have one product made in China by the twenty first century. Surprisingly, China has achieved this goal. From the country’s economic data, it is evident that china influences the global economy. For instance, consumer spending is expected to rise from 35% to 50% by 2015. This will give China an upper hand to grow economically. 70% of United States GDP is derived from consumer spending (US Commercial Service, 2013). It should also be noted that China seeks to develop biotechnology. The country bases its modernisation process mainly on its domestic resources (Bijian, 2005, p, 20). Chart1: China’s Current and Projected Consumer Spending China’s economic growth is remarkable. The country recorded an economic growth rate of 7.8% in 2012 and 9.3% in 2011. This was much better, compared to United States of America’s economic growth rate of 2.2%, India’s growth rate of 3.2%, Japan’s growth rate of 1.9%, Germany’s growth rate of 0.7% and United Kingdom’s economic growth rate of 3.2% (Chart 2). This follows that China is the second largest economy of the world, after America. In addition, according to the 2012 International Monetary Fund report on GDP of various countries, China ranks second, after the United States of America. Furthermore, China is expected to narrow the margin by 2017, as per the estimates. According to 2050 estimates, China is expected to be the world’s largest economy, followed by United States of America. By 2001, United States of America was the largest oil consumer, while China was third, but by 2009, China had risen to the second position. Innovations have been occurring in many parts of the Chinese economy (Chow, 2010). This innovation begins from private enterprises to educational institutions. Chart 2: Economic Growth of China and India As a result of adopting industrialization, China has increased its dependency