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When China Rules the WorldIt produces two-thirds of the world’s photocopiers, shoes, toys and microwave ovens; half its DVD players, digital cameras and textiles; one-third of its DVD-ROM drives and desktop computers; and a quarter of its mobiles, television sets, PDAs and car stereos. [455] The country has borne witness to the greatest poverty-reduction programme ever seen, with the number of people living in poverty falling from 250 million at the start of the reform process in 1978 to 80 million by the end of 1993 and 29.27 million in 2001, thereby accounting for three-quarters of global poverty reduction during this period. [456] Figure 13. The decline in poverty in China. Although foreign multinationals dominate the country’s exports, home-grown Chinese firms like Haier, Konka, TCL, Huawei and Galanz have done well in such sectors as domestic appliances, television and telecommunications. Encouraged by the ‘Go Global’ campaign initiated by the government, the larger Chinese firms have begun to invest abroad and establish overseas subsidiaries. [457] China has made astounding economic progress, but its transformation is far from complete ...» |
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