From the Summary: "The rise of China from a poor, stagnant country to a major economic power within a time span of only 28 years is often described by analysts as one of the greatest economic success stories in modern times. From 1979 (when economic reforms were first introduced) to 2006, China's real gross domestic product (GDP) grew at an average annual rate of 9.7%, the size of its economy increased over 11- fold, its real per capita GDP grew over 8-fold, and its world ranking for total trade rose from 27th to 3rd. By some measurements, China has become the world's secondlargest economy, and it could be the largest within a decade. […] This report examines the implications (both challenges and opportunities) for the U.S. economy from China's rapid economic growth and its emergence as a major economic power. It also describes congressional approaches for dealing with various Chinese economic policies deemed damaging to various U.S. economic sectors. This report will be updated as events warrant."
CRS Report for Congress, RL33604