China

China, a developing country in the Asia-pacific region is labeled as the world's seventh largest economy in terms of power and influence and the largest in terms of size- 21% of global population. Under Mao Tse Tung's communist rule, China attempted to modernize both agriculture and industry in the great leap forward in the 1950s. However, the policies implemented proved futile and resulted in pervasive famine and poverty. In the latter period of the 1960s Tung's successor, Deng Xiao Ping instigated a cluster of fundamental policies designated on integrating China with the global economy and to promote its economic growth and development.

China's experience with the World Bank is extensive. Since joining the bank in 1980, China has been the largest single source of long-term foreign capital, acquiring $US32.5 billion after 1999 for reform purposes.
Furthermore, China had loaned minimal amounts from the IMF and repaid immediately.

In 1980 an "open door" policy was employed to e...