Description:
The rapid expansion of China is one of the key economic and political issues at the start of the twenty-first century. China's importance in South-South trade (and competition) as well as in South-South investment has already brought about many changes for developing regions, and they are likely to be extrapolated in the years to come. The growing economic position of the biggest developing country in the world implies much greater political power, affecting all other countries as well as international relations and global politics. For Asia, Africa, Latin America, the Middle East, and Eastern and Central Europe, the effects are likely to be far reaching. This article first looks into the global expansion of China, providing an overview of some striking economic figures. It also reviews the economic development of China, explaining how its communist party has used neoliberal measures to cause an economic transformation. It then analyzes how this transformation has affected China's role in Asia and China's policies towards the ‘Global South’. Finally, contemporary South-South relations in the context of globalized markets are discussed.