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Over the last thirty years, China has been reforming its economy at breakneck speed. In China, as in every country, the time of reformation is a crucial one. Although China's growth model is likely to be very effective in coping with today's economic requirements, the reform policy implemented by China's leaders is facing increased opposition from both within the Party as well as from society as a whole. A surge in nationalism is threatening China's relations with its neighbours and its rise to regional leadership. In the aftermath of the worldwide financial crisis, China has emerged as the second largest economy soon to overtake the USA, but the crisis has also emphasized the reliance of China's economy on the developed market and the subsequent decreasing growth rate. The Chinese growth model is now reaching to the core of the system i.e. the social and political institutions. This book addresses a wide range of factors influencing the development of China's model and its influence on the rest of the world.
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