The rise of China as an economic power in the context of the 2008 crisis

While China has been the largest economic power in the world for many centuries, it has been weakened by a hundred years of colonial activity in the west, riots and civil wars. The socialist republic, founded in 1949 under the leadership of the Communist Party, has not been able to make a significant economic leap. With the transformation and outward opening process that started in 1978, the Chinese economy grew rapidly and China emerged as an important economic actor. China, which avoided claiming leadership until the 2008 Crisis, started to challenge the weakening USA economy and the western economic system with the crisis. China, which has made reform discourses in existing international economic, financial and commercial institutions in cooperation with developing countries; In the continuation of the process, it started to build alternative institutions to the system. The Chinese economy is clearly in competition with the US. With its reform and opening out process, it presents the economic system it has built in China as an alternative to the western-based economic system and promises to build a system that is suitable for each country's own conditions and where political conditions are not put forward. The Chinese economy is growing rapidly and according to many economic indicators, it is in the process of being the world's undisputed biggest economic power. The Chinese economy has important weaknesses as well as strengths. China continues its reform and transformation, and these weaknesses are also expected to be overcome. The study deals with the emergence of China as an economic power through the process of reform and opening out, and the challenge to the western-axis economic system after the 2008 Crisis both by increasing its influence power and developing alternatives within the system. In addition, the strengths and weaknesses of the Chinese economy are analyzed and evaluated within the framework of its competition with the USA.