China is a massive power with the world’s largest population, second-largest economy, and third-largest land area. Considering its current status in the world, it’s natural that the country has both strong believers as well as detractors. While some believe in the potential of the country’s burgeoning middle-class as consumers, other express doubt about China’s economic system as a whole.
Several speakers at a recent Asia Society event sided with those who are bullish on China, and explained that the tremendous social transformation that has occurred over the past century puts the country in a position to surge past the West as a global leader.
What remains to be seen, however, is if China can survive a global recession that could hit closer to home than the most recent financial crisis.