There are nearly as many currencies in use around the world as there are countries, but only a handful of currencies are widely used outside of their home economies. While China has found some initial success at internationalizing the renminbi, it faces an uphill battle in shaking up the global currency hierarchy.
Ongoing economic modernization has expanded access to safe drinking water for hundreds of millions of people in China, but it has also severely polluted and taxed the country’s water resources. Leaders in Beijing have taken steps to address water security threats, but considerable obstacles persist.
ChinaPower hosted its fourth annual conference on December 4, 2019. The conference featured a keynote by Senator David Perdue and a postponed speech by Assistant Secretary of State David. R. Stilwell.
China is one of only nine countries that possess nuclear weapons. Although its nuclear arsenal is small relative to those of the United States and Russia, China is currently expanding and modernizing its nuclear forces. As China faces evolving security challenges, Beijing may also revise its primarily defensive nuclear strategy.
Conducting activities in space embodies the pinnacle of technological achievement. Only a handful of countries have the capability to indigenously launch payloads into space. China sits among this elite group, but closing the technology gap with more-advanced space powers will require China to make significant headway.
The world economy is shaped not just by states, but also by an assortment of influential companies that act as critical elements of national economic power. In conjunction with China’s emergence as an economic superpower, Chinese companies have climbed the ranks to be among the largest in the world.
China’s accession to the World Trade Organization was heralded by the international community as a victory for free trade and economic liberalization. While China has been one of the organization’s most active members, Beijing has not instituted deep, systemic reforms and its compliance with WTO rulings has been mixed.
Global leaders in innovation produce the discoveries that shape the modern world. An economy’s capacity to innovate is dependent on a variety of factors, including its commitment to research and development, the quality of its workforce, and the effectiveness of government institutions.