In 2014 the IMF announced that, in terms of purchasing power, China had become the world’s largest economy.
Beginning in early 1980s, China shifted its economic strategy from self-sufficiency to export orientation.
China was the first to develop medium-range anti-ship ballistic missiles, which may usher in a new era in naval warfare, and could become the first country to deploy missiles capable of shooting down low-flying spy satellites and even GPS satellites hovering up to 40,000 kilometers above.
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