After North America, Europe, and Japan, the area of China, Taiwan, and Hong Kong "is a fourth growth pole in the world economy" (Jue 108) which in 1994 was expected to double in size by 2002. Today, the growth rate is still on track to fulfill that prediction. Recent Chinese economic policies have shot the country into the world economy at full speed. As testimony of this, China’s gross domestic product has risen to seventh in the …showed first 75 words of 2515 total…

…showed last 75 words of 2515 total…perhaps the largest wave of corporate restructuring, mergers, and acquisitions the world has ever seen" (Clifford et al.). Certainly, China is poised to become the world’s next economic super power. Their success in attaining that status will depend largely on how they collectively deal with their existing and future economic issues, however. China recognizes the necessity of radical changes in some of their current practices, most notably the ownership and operation of state enterprises.