TAILIEUCHUNG - Some reviews of China's economic power in current period

The article examines China's economic power in relation to the United States and a number of other major powers in the world, showing that China is currently an emerging economic power, with the world's second-largest GDP value and the world's largest commodity trade turnover; being the world's largest commodity producer; with an attraction of foreign investment ranked third and offshore investment ranked second in the world; foreign currency reserve ranked first and overseas economic aid ranked second in the world. | Some Reviews of China s Economic Power in Current Period Nguyen Quang Thuan1 Hoang The Anh2 1 Vietnam Academy of Social Sciences. Email thuanq_2000@ 2 Institute of Chinese Studies Vietnam Academy of Social Sciences. Email anhthu7383@ Received on 6 March 2019. Revised on 6 May 2019. Accepted on 14 June 2019. Abstract The article examines China s economic power in relation to the United States and a number of other major powers in the world showing that China is currently an emerging economic power with the world s second-largest GDP value and the world s largest commodity trade turnover being the world s largest commodity producer with an attraction of foreign investment ranked third and offshore investment ranked second in the world foreign currency reserve ranked first and overseas economic aid ranked second in the world. At the same time China s economic development is revealing weaknesses and risks both domestically and internationally when it is expanding its overseas economic cooperation. Keywords China economic power global Belt and Road. Subject classification International economy 1. Introduction After 40 years of reforms and opening up China has succeeded in developing its economy increasing its synergy becoming a leading emerging power in the world and said to challenge the US s position as the world s No. 1 with regard to economic power. This has created a drastic strategic competition between the US and China in the Asia-Pacific region and globally. Thus what is the extent of China s economic power What are its weaknesses or limitations Within the scope of this article3 we analyse China s true economic power and highlight its limitations in the current period. 2. The true strength of China s economic power In the past 40 years together with the determination to reform economic institutions to liberate social production to actively and proactively integrate into the 3 Vietnam Social Sciences No. 4 192 - 2019 international community and

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