China: Great Dragon Rising - Dragons and Tigers: A Geography of South, East and Southeast Asia - page 313

Figure 11-13
Pudong SEZ in Shanghai. Pudong' s development began in 1990. Landmark buildings such as
the Oriental Pearl TV T Tower (the center tower continues for 1,535 ft (478 m) mark Pudong' s
new status as one of the most productive economic zones in China. Tibor Bognor/Corbis Images.

Chinese society is becoming increasingly stratified.
However, the middle classes are expected to include
more than 800 million in the next five years. The com-
bined disposable income of these groups should reach
US$1.6 trillion!

Because of these economic policies, China has be-
come the world' s largest exporter, trading extensively
with the European Union, Japan, and the United States.
China, now consuming more steel, coal, meat, and grain
than any other nation, has outpaced Japan to become the
second largest economy in the world after the United
States and is a prime force for economic growth around
the globe. For instance, China is one of Germany' is most
important trading partners. In 2004, China had 130 ship-
ping companies in Hamburg, Germany' s largest port.
Exports make up 80 percent of China' s foreign cur-
rency earnings, and there has been a shift in the structure
of these as industrial products have overtaken agricultural
products. China' s top exports are electrical machinery and
equipment, power-generating equipment, apparel, toys,
and processed foods. China is also increasing its market
share in the furniture, appliances, and electronics sectors.
Japan is a big market for processed foods, especially
instant noodles ( ramen ). China' is relationship with Japan is

Globalization

Deng Xiaoping' s economic policies opened China to the
global economy and spurred sharp increases in tourism,
imports and exports, and foreign investment. In 2002,
there were 98 million tourists, 54 times the number in
1978. By 2007, the number of overseas tourists had
reached 132 million. The leading countries of origin are
Japan, Korea, Russia, and the United States. The World
T Trade Organization (WTO) predicts that by 2020, China
will be not only the largest recipient of foreign tourists
but also the world' s leading sender of tourists abroad.