The rise of Chinese economy has made it the third option of world power. The growth of China's stable economy is projected to grow the US as the world's largest economy, with China's economic integration into the region making it a driver of great influence in regional affairs. The strength of its economy, along with other factors such as population, land mass, resources, regional location, and political influence, has connected it in significant ways and made it the third alternative power in the world.
China's population of 1.3 billion calls it the most populous country on Earth, accounting for one-fifth of the world's population; While it is the third largest country after Russia and Canada in about 10 million square kilometers. Its 2.25 million soldiers make up the world's largest armed force. China's reputation as a major military power comes from the possession of nuclear weapons capable of all range and delivery modes.
Economically, it is the fourth largest trading country in the world, ranking 32nd in 1978 and 10th in 1997. 13% of world output (at purchasing power parity), second only to the US with its GDP.
China, the successor of 5,000 years of civilization, is the fastest developing economy in the world even in the present era, an average of 9.5% annually for the last 20 years. Such high growth rates, low labor costs and a huge emerging market have attracted the world's highest level of FDI. After China joined the World Trade Organization in December 2001, it has become one of the most open economies in the developing world, with the average tariff falling from 41% to 6% after the World Trade Organization access in 1992.