China challenges to America: An Economic and Cultural Perspective

Napoleon Bonaparte once said that ?China is a sleeping giant. Let her sleep, for when she wakes, she will shake the world.? In 2008, American prize Nobel of economics, Joseph Stiglitz asserted that no society in human history has undergone such a rapidly transformation as China did in the last 15 years. Indeed, the economic performance of China in the last 35 years marveled the world at many levels. Not surprisingly, the United States follow with great interest the rise of China as the latter plays an increasingly international role. As a result, the American authorities have multiplied meetings with Chinese leaders to strengthen their bilateral relations. Enhancing the importance of the meetings of the G-20, Washington has implicitly acknowledged that China has become a major player in the global economy. Meanwhile, China has surpassed Japan to become the second largest economy in the world. In addition, the rise of China has been so rapid that many observers are questioning whether or not China would overtake soon the United States to make the 21st century a Chinese century as the 20th century was an American one.