Media Type

Article

Publication Date

10-11-2025

Description

China has emerged as an economic power house of the 21st Century and is the largest exporting nation of the World and the second biggest economy. The remarkable achievement of GDP per head growing 17 times between 1980-2014 and lifting more than 800 million out of poverty is a feat unprecedented in human history. It would be pertinent to recall that not very far in time i.e. 1980, per capita income of China was lower than that of both India and Pakistan and since then now it has become an economic powerhouse. Realizing its importance as a leading economic power, China has also taken the lead in assisting other developing and emerging countries through investment, financial aid, and building infrastructure. In Africa, China has emerged as the number one official donor. President Xi Jingping has embarked upon one Belt One Road initiative that would link China to the rest of the World through new roads, railways, ports, gas pipelines and other infrastructure. This will stretch into South and South East Asia, Middle East and from Central Asia to Europe. More recently, it has established Asian Infrastructure Investment Bank (AIIB) that would cater to the infrastructure needs of developing countries. AIIB would provide concessional loans to developing countries.

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