Rising China analysis: political, economic, social
It is a commonly well accepted fact that currently the United States is the hegemon of our unipolar-structured world, since the fall of the Berlin Wall and the Demise of the Soviet Union in 1989 and 1991 respectively. No other power was said to match the capability of the United States and its power was deemed to be unchallengeable. However, many developments in international power politics are pointing to another rising power which may in the future be able to challenge the current hegemon. `Rising China` as they call it, is the power that many people are starting to become aware of the possible power which may overtake what it seems like the exclusive capability of the United States one day in the future.
Since 1995, China has significantly and rapidly increased their defense spending. Their defense budget was basically left unchanged until the mid 1970s, however by 1995 and 2000 it doubled, and from 2004 the Chinese military defense budget grew at an average rate of 14% a year. In 2007 defense spending grew by 17.8% to 350 billion yuan ($45 billion), to increase salaries for the 2-million People`s Liberation Army and modernize the military to deter Taiwanese independence.