China Becomes No. 2 Global Economic Power

The New York Times reported today that China had eclipsed Japan as the second largest economic power in the world.  David Barboza’s article cogently summarizes the main themes, challenges and opportunities associated with China’s economic growth.  China’s economy is not only growing but it is also evolving and developing with equal if not greater speed.  Challenges and opportunities are both presented to China’s regional and global trading partners as well as to the Chinese leadership as they fine-tune their economic engine and face the changes it brings to Chinese society and social structures.  The growth of the middle class and the opportunities that this presents as consumer demand grows has been well reported.  Equally powerful, but perhaps less well reported are the agricultural opportunities presented in connection with growing urbanization and the need to have a dramatically more efficient agricultural sector to feed a growing urban population while assuring food safety.