China, a country of over 1.3 billion people, has made a big change in its economy over the past three decades (Morrison). China is the most populous country in the world and accounts for around 20% of total global pollution. Its government, the Chinese Communist Party, has ruled the country for over 63 years, since 1949. China experienced a big change in its economy starting in 1978. Since then, it has become one of the fastest growing economies fastest in the world (Wiki answers). China may have started with very little money, but it now has the world's second largest economy. It is also the second largest importer and largest exporter of goods (Wiki answers). Some analysts believe that China will have the largest economy in a few years (Morrison). Economic reforms were introduced in 1978 by the Chinese Communist Party. This introduction changed the economy, culture and way of life of the Chinese people. After 1978, approximately five hundred million people were lifted out of extreme poverty (Morrison). This reform is today described as one of the greatest economic successes of modern times (Morrison). Trading also became more popular as China's GDP grew. The United States and China are now very close trading partners. In 2011, the two countries exchanged goods worth $503 billion (Morrison). However, the growth of China's economy has also raised concerns among foreign policymakers, who are considering how this growing economy could affect other countries' economies and global trade (Li). They also fear that economic growth could also lower the exchange rates of other currencies. I think this could lead to unrest in other countries to keep their exchange rates stable. As the Eurozone crisis deepens...... middle of paper ...... From a personal point of view, I think culture and tradition should be modernized not only in China, but all over the world. I'm not saying that Chinese culture needs to be completely transformed, but it needs to be changed. In my opinion, this will bring the world together. If all the culture and traditions are changed, I assume the country will lose its identity, but slight changes will make the country better, and trade is the best way to do that. To conclude my essay, I think trade has helped China's economy. After the economic reforms of 1979, China has changed a lot and trade is a supporting member. In addition to its negative effects on culture, trade has greatly helped China; and I, along with other economists, predict that within a few years China will have the largest economy in the world.!