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China Travel Guide » About China » History of China
History of China - Page 10
In November, 2001, China became a member of the World Trade Organisation. Hu Jintao became the general secretary of the Communist Party in November, 2002, and the president in March, 2003.
The control of the outbreak of SARS in 2003 was a major challenge faced by China in recent times. Although the economy, especially the service sector, was hit due to the illness, China reported a growth rate of 9%. In 2003 China and India agreed to work towards the settlement of border issues. China signed a free trade agreement with ASEAN which stated that tariffs are to be removed on many goods for trade amongst the member countries by 2015. In October, 2003, China put a major step forward in scientific advancement when it put taikonaut Yang Lewei aboard Shenzhou 5 into orbit.
China completed the construction of the Three Gorges Dam, the largest hydro-electric dam in the world, in May, 2006. China's growing influence in the international community was highlighted during the North Korean crisis in 2006.
China's influence on the world economy is highlighted by its trade surplus with most of the other large economies including the United States. This led to the United States imposing tariffs on certain Chinese goods which stated that the goods were illegally subsidized.
China moves from strength to strength with its own share of problems into the 21st century. It seems inevitable that China will soon be the largest economy in the world requiring massive resources to sustain itself as a prosperous economy.
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