China's Economic Success has Many Chapters Ahead

I found this article in the New York Times, published on January 11th, 2010. This article talks about how China has become an economic powerhouse, even though the world economy is struggling. China is moving up in the world's economy, but many experts believe that the good times won't last because every success comes with its hard times.

China has a booming realty market and has taken over Germany's lead as the biggest exporter of manufactured goods including car sales. This new economic boom is putting pressure on China to change some of its policies. When China was a developing country, they had an excuse if somebody questioned their policies. Now, they can no longer use this excuse because they are one of the forerunners in economic fortune. Some experts even think that China's wealth was raised on bad loans and unworthy investments. There seems to be no immediate danger for China's economy, but there is still a long road ahead of them to figure out what works for long term profit and what works for short term profit.

In this article, China expresses how happy they are that their country is one of the forerunners of prosperity in these hard economic times. Much of the Chinese population, including the media, believe that this boom "is proof of national superiority". They also talk about how their leaders were able to make good, quick decisions which promoted their prosperity because no time was wasted in times of crisis.

Whether China is more superior than other countries or not, I believe that they're doing something right because they are one of the few countries that are doing well in a global recession. Only time will tell if this boom in China's economy will last, but by the looks of it, they will be a global powerhouse in no time.