China has just hosted its annual Communist party meeting back in Beijing. Similar to previous years’, the leaders have proposed long term and short term goals for China. However, this year’s goals are more ambitious than previous’ since the President Xin Jinping has proposed major reforms within the Chinese borders. The country is planning to abolish the infamous one-child policy and proposing to open up the state dominated sectors to the public. In addition, the country is making plans to modernize its rural areas. Since China now has become the second largest economic body in the world, the country is turning its attention back into developing its second and third-their cities. It has realized that its workforce is starting to decline although its exports and outputs are continued to incline throughout the years. The government has realized that developing and supporting citizens in the rural areas is the key for future growth of the country. Besides policy reforms, the Chinese government is now also slowly allowing the market have more power over the country’s financial and economical performances. In an overall view, China is slowly stepping out from the Communist shadow under the directions from the President. In the future, China might overtake United States as the largest economic body under the condition that the country continues to undergo policy, financial and economic reforms.

Source : http://www.reuters.com/article/2013/11/17/us-china-reform-markets-idUSBRE9AG06B20131117