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THE NEW ECONOMIC WORLD ORDER (PART II: CHINA): Amazingly rapid economic growth has made China "world's workshop"

China's economic ascent over the last two-and-a-half decades has been nothing short of astounding. It now has the fastest-growing large economy in the world, having increased by an amazing 9% a year since 1979, a historical record. As one U.S. newspaper put it, "The world has never seen a nation as big as China rise as far and as fast as China has in the last 20 years."

China has replaced the United States as the largest consumer market in the world. It is also the third largest trading nation, as well as the global manufacturing centre. China makes two-thirds of the world's DVD players, copiers, microwave ovens, and shoes, and is the leading producer of steel, cement, and coal. Chinese ...

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