| Journal Call no. | HC411.A76 |
|---|
| Article Title | Wealth's challenges : Asia should not balk at joining "rich nations' clubs". |
|---|
| Is Part Of | Asiaweek ; v.22, no.45, 8 Nov 1996, p.13-14, illus. |
|---|
| Abstract | China is not about to be invited into the "rich nations' clubs". But the notion may be less far-fetched than many would think. In 1992, the World Bank issued a report arguing that the true size of the Chinese economy was already greater than that of Japan and Germany, and was closing in on No.1 - the United States. But in a new document released that the World bank substantially downscaled its own estimates of the size of China's economy. It also boosts the number of Chinese considered to be living in poverty. However, China's leaders know that there are certain strategic advantages to being considered poor. They include greater eligibility for international aid and loans on better terms. Also, China is seeking entry to the World Trade Organization (WTO). To be perceived as economically strong would mean a higher admission cost than Beijing seems ready to pay at the moment in terms of opening its economy. |
|---|
