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'''China''' is the world's largest country by population, with a rapidly growing economy. With thousands of years of continuous traditions, in three decades it has dramatically changed itself from a poor backward nation to a world power, and is one of the world's top economies. It has emerged as a major regional power in East Asia, averaging over 9% economic growth per year since 1978 when it introduced a market-based economic system with many elements of capitalism, to replace its old socialism. Foreign businesses have flocked to invest in China, Americans and others rush to buy its cheap factory output, Chinese exports flooded the world.  It has vast reserves of dollar holdings.  China is modernizing its military, has joined numerous regional and international institutions, and plays an increasingly visible role in international politics.  

'''China''' is the world's largest country by population, with a growing economy. With thousands of years of continuous traditions, in three decades it has dramatically changed itself from a poor backward nation to a world power, and is one of the world's top economies. It has emerged as a major regional power in East Asia, averaging over 9% economic growth per year since 1978 when it introduced a market-based economic system with some elements of capitalism, to replace its old socialism. Foreign businesses have flocked to invest in China, Americans and others rush to buy its cheap factory output, Chinese exports flooded the world.  It has vast reserves of dollar holdings.  China is modernizing its military, has joined numerous regional and international institutions, and plays an increasingly visible role in international politics. However, the paper statistics of China's growth hide the fact that it may have a weaker economy than it admits, as seen in the many "ghost towns", among other factors.<ref>Fong, Dominique (June 15, 2018). [https://www.wsj.com/articles/chinas-ghost-towns-haunt-its-economy-1529076819 China’s Ghost Towns Haunt Its Economy]. ''The Wall Street Journal''. Retrieved June 15, 2018.</ref>

The nation is under control from the [[Chinese Communist Party]], which encompasses mainland China, albeit with many border disputes. The Beijing claims [[Taiwan]] as a province, but the Taipei maintains its sovereignty.

The nation is under control from the [[Chinese Communist Party]], which encompasses mainland China, albeit with many border disputes. The Beijing claims [[Taiwan]] as a province, but the Taipei maintains its sovereignty. [[Hong Kong]] was transferred back to Chinese control by the [[United Kingdom]] in 1997, and [[Macau]] was handed over by [[Portugal]] in 1999. Both territories are now [[Special Administrative Region]]s and have autonomy over local affairs. However, the autonomy has been eroded in recent years, particularly after 2014 "Umbrella Revolution". Since the 1950s China has increasingly asserted brutal control over [[Tibet]].

Since China's accession to the [[World Trade Organization]] (WTO) in 2001, China represents a vast market that is growing more affluent and sophisticated while remaining a low-cost base for export-oriented production. Educationally, China is forging ahead as partnerships, and exchanges with foreign universities have helped create new research opportunities for its students. China used the Summer Olympics in 2008 as a platform of propagating the so-called "economic development" to the world, while it is still a Communist country in its core of the past two decades since the 1989 Tiananmen Massacre. The new leadership is committed to generating greater economic development in the interior and providing more services to those who do not live in China's coastal areas. However, China is never a true market economy, as the key resources, such as land, is not privately owned; the so-called collective ownership is still de facto government ownership. Moreover, on the Communist Regime's Constitution, Mainland China is still officially a Communist Country. In 2015, the Communist-controlled Mainland China (or self-proclaimed People's Republic) has been denied as a market economy.

 

Since China's accession to the World Trade Organization (WTO) in 2001, China represents a vast market that is growing more affluent and sophisticated while remaining a low-cost base for export-oriented production. Educationally, China is forging ahead as partnerships, and exchanges with foreign universities have helped create new research opportunities for its students. China used the Summer Olympics in 2008 as a platform of propagating the so-called "economic development" to the world, while it is still a Communist country in its core of the past two decades since the 1989 Tiananmen Massacre. The new leadership is committed to generating greater economic development in the interior and providing more services to those who do not live in China's coastal areas. However, China is never a true market economy, as the key resources, such as land, is not privately owned; the so-called collective ownership is still de facto government ownership. Moreover, on the Communist Regime's Constitution, Mainland China is still officially a Communist Country. In 2015, the Communist-controlled Mainland China (or self-proclaimed People's Republic) has been denied as a market economy.

For more information on China, see [[World History Lecture Three]].

For more information on China, see [[World History Lecture Three]].