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'''China''' is the world's second largest country by population,<ref>https://www.downtoearth.org.in/video/governance/india-surpasses-china-to-become-most-populous-country-in-the-world-87257#:~:text=According%20to%20projections%20by%20the,now%20stands%20at%201.41%20billion.</ref> currently a totalitarian [[communist]] [[one-party state]].<ref>Gallagher, Mike (November 7, 2019). [https://thehill.com/blogs/congress-blog/politics/469429-seeking-truth-from-facts-on-china Seeking truth from facts on China]. ''The Hill''. Retrieved November 7, 2019.</ref> 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, second only to the [[United States]].  

'''China''' is the world's second largest country by population,<ref>https://www.downtoearth.org.in/video/governance/india-surpasses-china-to-become-most-populous-country-in-the-world-87257#:~:text=According%20to%20projections%20by%20the,now%20stands%20at%201.41%20billion.</ref> currently a totalitarian [[communist]] [[one-party state]].<ref>Gallagher, Mike (November 7, 2019). [https://thehill.com/blogs/congress-blog/politics/469429-seeking-truth-from-facts-on-china Seeking truth from facts on China]. ''The Hill''. Retrieved November 7, 2019.</ref> 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, second only to the [[United States]].  

It has emerged as a major regional power in East Asia, and formerly it was averaging over 9% economic growth per year since 1978 when it introduced a market-based economic system known as socialism under capitalist management. 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>  China is trying to overtake the U.S. economy and position as a world leader, and impose its model of [[Socialism]] with Chinese characteristics upon the planet.

It has emerged as a major regional power in East Asia, and formerly it was averaging over 9% economic growth per year since 1978 when it introduced a market-based economic system known as socialism under capitalist management. 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>  China is trying to overtake the U.S. economy and position as a world leader, and impose its model of [[Socialism]] with Chinese characteristics upon the planet.