ABSTRACT
Most South-East Asian nations have witnessed the rapid rise of China with admiration and fear. China’s neighbours have been impressed by the successful reconfiguration and re-launch of a country that was in decline for 500 years. This turnaround will be remembered as one of the most significant economic-political events of the 20th century. Commentators such as Nicholas Kristof have stated that ‘the rise of China, if it continues, may be the most important trend in the world’. 1 This growth curve has proved accurate, as China continues to perform well. In the 1990s the Chinese economy grew at an impressively rapid pace, at about 10% per annum. However, from 2011–12, growth rates were affected by the financial crises experienced by the European Union and the USA, and the global economic slowdown. In 2012 China’s gross domestic product eased to 7.8%, down from 9.2% in 2011, the lowest since 1999. 2
