China and the World in a Changing Context—A Brazilian Perspective

Abstract

China's breathtaking transformation has seen its GDP increase from less than two percent of the world total in 1979 to close to 17% in 2020, while its share of world trade has grown from less than one percent to more than 13% in the last 40 years. It became the world's largest economy in terms of purchasing-power parity (PPP) at least five years ago and will soon be the largest in nominal terms. The rescue of hundreds of millions of people from poverty is also a remarkable achievement. Health, longevity, education, and income: The Chinese people enjoy life today in a way that would have been hard to imagine a few decades ago. This is a tectonic development, unprecedented in scale and speed, which is having a profound impact in the world.China's development must be applauded, and not just by its own people. Its capacity to supply large volumes of goods at low prices has allowed millions of consumers to adopt new technologies more quickly than ever before. World economic growth is higher because of Chinese consumption, investment, and savings. It is estimated that a third of world economic growth in the coming years will still come from China.However, even though Chinese development has mostly been a force for good, it has also been disruptive. Chinese competition in manufactures has exerted considerable pressure on other countries, leading to considerable dislocation. Brazil and other developing countries suffered the first impact; as China moved up the value-added ladder, developed countries also have had to deal with this challenge, sometimes through old-fashioned protectionism.The sheer magnitude of China's economy and its rate of economic growth also have an outsized impact on the environment. This is a matter of concern to all, though the answer obviously does not lie in denying it the right to development. China's per capita GDP is still slightly below the world average, and it understandably aspires to levels of welfare similar to more developed countries. The recent emphasis on energy efficiency and on combating pollution is welcome. China's size may also help find P. E. de Mesquita (B) Embassy of the Federative Republic of Brazil to the People's Republic of China,