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.
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.
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. Learn more in this ChinaPower exclusive.
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. Learn more about innovation in China.
In 2017, China exported $2.3 trillion and imported $1.8 trillion in goods. This amounted to 12.4 percent of global trade and left China with a trade surplus of over $400 billion. Learn more about international trade with this ChinaPower exclusive.
Chinese movies earn billions of dollars annually, but it is domestic sales that overwhelmingly drive the success of the industry. It remains to be seen if China can attract foreign audiences to its films. Learn more with this ChinaPower exclusive.
Rooting out corruption is critical to economic development, as it undercuts government revenue and limits the ability of government to implement effective policies. Learn more about the impact of corruption in China with this ChinaPower exclusive.