China's Plan to Dominate the World Economy

China is an economic superpower which has risen from poverty to become the world's second largest economy. However it is currently stuck in a middle income trap and needs to navigate an economic slowdown whilst at the same continuing on its development path.

The Chinese government have a plan to dominate the world economy and emerge over the next few decades as the world's largest economic superpower. To achieve this they want to pivot away from cheap manufacturing and instead focus on growth industries like artificial intelligence, robotics and renewable energy.

China's plan also involves expanding their reach overseas through the Belt and Road initiative, investing in poorer countries whilst exporting Chinese technologies and standards.

There are, however, many unknowns about what path China will go down. Its economy is slowing and the government has recently enacted harsh regulations across a whole host of industries.

The next few decades will reveal whether China does indeed become the world's largest economy or whether it stagnates and faces increasing social problems.

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