Critically assess the impact of the rise of CHina on Asia-Pacific Essay

Critically assess the impact of the rise of CHina on Asia-Pacific security. Is china having an impact in terms of the development of multilateral security mechanisms - Essay Example People’s Republic of China (PRC) came into existence in 1949, two years after division of sub-continent and emergence of India and Pakistan in 1947 when British departed from sub-continent. Indeed, since then, China had remained a poor nation because of its communist policies and strict control by government over nation’s resources. China had no signs of joining the list of developed economies before 1977 because it used to be one of the least developed nations across the globe. However, the Chinese government and policy makers decided to get rid of ‘Maoism’ and traditional adopted communist principles in 1978 to grapple with rising unemployment, poverty, societal and political unrest. Quite unequivocally, China implemented some principles of capitalism thereby opening its economy for foreign investors and interested business organisations that wanted to tap lucrative South Asian and East Asian business markets. The population growth has already declared Ch ina as world most populist country, which in turn, provided international firms availability of extremely cheap skilled, unskilled and semi skilled labor resources. China also introduced new economic reforms to stimulate economic and business activities, thereby controlling the monster of poverty and unemployment. For instance In addition, the foreign investment continued to grow at a phenomenal pace and China, indeed, became world’s most attractive destination for foreign investment. Leading multinationals and supranational corporations also joined the arena and shifted their production plants to Chinese industrial states so that they could maximize their wealth. As a result, Chinese economy grew sharply in last 10-15 years, which in turn, increased nation’s Gross Domestic Product (Purchasing power parity), Per Capita Income, aggregate consumption and output. Government, however, also focused in