[Reading level: C1 – Advanced]
In the mid-20th century, the United States stood at the pinnacle of global industrial power. After World War II, the U.S. emerged as a superpower not only in military strength but also in economics and technology. Cities like Detroit were dubbed the “automobile capital of the world,” producing cars under brands such as Ford, Chevrolet, and Chrysler that dominated the global market. Pittsburgh was a center of metallurgy, while Silicon Valley in California began to emerge as the cradle of high technology.
An advanced education system, a strong middle class, and a closed-loop domestic supply chain helped the U.S. become the factory of the world, manufacturing everything from heavy machinery and electronic equipment to consumer goods.
However, along with the rising production costs in the U.S. – particularly labor costs, which averaged around $20–25 per hour by the late 1980s – American companies began seeking alternative locations to cut costs and maximize profits. The wave of globalization in the 1980s and 1990s fueled a shift in production to developing countries, where labor was abundant and wages were significantly lower.
China quickly became a top destination, with average factory worker wages at the time ranging from $30–50 per month, dozens of times cheaper than in the U.S. Moreover, the Chinese government was eager to “roll out the red carpet” for foreign investment by establishing special economic zones, offering tax breaks, and providing land at low costs. As a result, China rapidly rose to become the “world’s factory,” producing everything from clothing, toys, and electronic components to high-tech products.
At the beginning of the 1980s, China was still a poor country, with per capita income below $200 per year. Around 80% of the population lived in rural areas, primarily engaged in agriculture under inefficient collective farming models. Infrastructure was underdeveloped, electricity and roads were lacking, productivity was low, and the economy was largely isolated from the rest of the world. At the time, China still operated under a centrally planned economy, with the state controlling all production and distribution.
However, after initiating reform and opening-up in 1978, China began attracting massive foreign investment – particularly from American and Western companies. The government established special economic zones such as Shenzhen (1980), Zhuhai, Shantou, and Xiamen, which implemented preferential policies on taxation, land use, and administrative procedures.
In just 10 years, Shenzhen transformed from a poor fishing village into a modern industrial city, with GDP growing by more than 40% annually in the early stages. China gradually formed a socialist-oriented market economy, in which private enterprises and foreign capital played an increasingly important role in economic growth and technology transfer.
Three decades later, China was no longer merely a subcontractor for foreign corporations. It had gradually mastered technology, developed a comprehensive domestic supply chain, and built world-class multinational corporations such as Huawei (ranked 8th globally in R&D spending), BYD (which surpassed Tesla in electric vehicle sales in Q4 2023), Alibaba, and Tencent.
China is now the second-largest economy in the world, with nominal GDP exceeding $17.5 trillion in 2024, second only to the United States. It is also the largest exporter of goods globally, accounting for more than 14% of total global exports, and serves as a core manufacturing hub for many high-tech industries such as electronics, telecommunications equipment, and energy storage batteries.
In the field of science and technology, China is rapidly emerging as a global leader. The country ranks first in the world in the number of patent applications filed annually, and holds the largest share of global research publications in artificial intelligence. China is also the world’s leading manufacturer and installer of wind and solar turbines, and has taken the lead in 5G deployment, with over 3 million base stations installed by the end of 2024.
On the military front, China has modernized the People’s Liberation Army (PLA) and now possesses the largest navy in the world, with more than 370 warships. At the same time, it has expanded its presence in the South China Sea, Africa, and even the South Pacific. These advancements are positioning China as the most significant strategic rival to the United States in the 21st century.
Today, the United States finds itself facing a China that is both its largest economic partner and its most formidable strategic competitor. While the U.S. seeks to safeguard its interests and maintain its global leadership role, China is becoming increasingly assertive in expanding its global influence. The irony lies in the fact that it was the United States—through its globalization policies and profit-maximizing strategies—that played a significant role in China’s dramatic rise, and in doing so, unintentionally created its greatest rival of the 21st century.
WORD BANK:
pinnacle /ˈpɪn.ə.kəl/ [C2] (n): đỉnh cao
emerge /ɪˈmɝːdʒ/ [B2] (v): nổi lên
dub /dʌb/ (v): mệnh danh
dominate sth /ˈdɑː.mə.neɪt/ [C1] (v): thống trị cái gì
metallurgy /ˈmet̬.əl.ɝː.dʒi/ (n): luyện kim
the cradle of sth /ˈkreɪ.dəl/ (n): cái nôi của cái gì
closed-loop /kloʊzd luːp/ (adj): khép kín
supply chain /səˈplaɪ tʃeɪn/ (n): chuỗi cung ứng
seek sth /siːk/ [B2] (v): tìm kiếm cái gì
alternative /ɑːlˈtɝː.nə.t̬ɪv/ [B2] (adj): thay thế
fuel sth /ˈfjuː.əl/ [C1] (v): thúc đẩy điều gì
shift /ʃɪft/ [B2] (n): sự chuyển dịch, chuyển đổi
abundant /əˈbʌn.dənt/ [C1] (adj): dồi dào
roll out the red carpet /roʊl aʊt ðə red ˈkɑːr.pɪt/ (idiom): trải thảm đỏ
establish sth /ɪˈstæb.lɪʃ/ [B2] (v): thiết lập cái gì
special economic zone /ˈspeʃ.əl ˌek.əˈnɑː.mɪk zoʊn/ (n): đặc khu kinh tế
tax break /ˈtæks ˌbreɪk/ (n): miễn giảm thuế
per capita income /pɝː ˈkæp.ɪ.t̬ə ˈɪn.kʌm/ (n): thu nhập bình quân đầu người
primarily /praɪˈmer.əl.i/ [B2] (adv): chủ yếu
engage in sth /ɪnˈɡeɪdʒ/ [C1] (v): tham gia vào cái gì
collective /kəˈlek.tɪv/ [C1] (adj): tập thể
distribution /ˌdɪs.trɪˈbjuː.ʃən/ [B2] (n): phân phối
initiate sth /ɪˈnɪʃ.i.eɪt/ [C1] (v): khởi xướng cái gì
reform /rɪˈfɔːrm/ [B2] (n/v): cải cách
implement sth /ˈɪm.plə.ment/ [B2] (v): thực hiện cái gì
preferential /ˌpref.əˈren.ʃəl/ (adj): mang tính ưu đãi
administrative procedure /ədˈmɪn.ə.strə.t̬ɪv prəˈsiː.dʒɚ/ (n): thủ tục hành chính
socialist-oriented /ˈsoʊ.ʃə.lɪst ˈɔːr.i.en.t̬ɪd/ (adj): định hướng xã hội chủ nghĩa
market economy /ˌmɑːr.kɪt iˈkɑː.nə.mi/ (n): nền kinh tế thị trường
subcontractor /ˌsʌbˈkɑːn.træk.tɚ/ (n): nhà thầu phụ
master sth /ˈmæs.tɚ/ [C1] (v): nắm bắt cái gì
comprehensive /ˌkɑːm.prəˈhen.sɪv/ [C1] (adj): hoàn chỉnh
world-class /ˌwɝːldˈklæs/ (adj): tầm cỡ thế giới
nominal GDP /ˈnɑː.mə.nəl ˌdʒiː.diːˈpiː/ (n): GDP danh nghĩa
exceed sth /ɪkˈsiːd/ [B2] (v): vượt quá cái gì
trillion /ˈtrɪl.jən/ (n): nghìn tỷ
core /kɔːr/ [C1] (adj): chủ chốt
hub /hʌb/ (n): trung tâm
patent /ˈpæt.ənt/ (n): bằng sáng chế
file /faɪl/ (v): nộp đơn
liberation /ˌlɪb.əˈreɪ.ʃən/ (n): giải phóng
possess sth /pəˈzes/ [C1] (v): sở hữu cái gì
position sb/sth as sth /pəˈzɪʃ.ən/ (v): đặt ai/cái gì vào vị trí nào
strategic /strəˈtiː.dʒɪk/ [C1] (adj): chiến lược
rival /ˈraɪ.vəl/ (n): đối thủ
formidable /ˈfɔːr.mɪ.də.bəl/ [C1] (adj): đáng gờm
seek to do sth /siːk/ [B2] (v): tìm cách làm gì
assertive /əˈsɝː.t̬ɪv/ [C2] (adj): quyết đoán
irony /ˈaɪ.rə.ni/ [C1] (n): điều trớ trêu
profit-maximizing /ˈprɑː.fɪt ˈmæk.sə.maɪ.zɪŋ/ (adj): tối ưu hóa lợi nhuận
unintentionally /ˌʌn.ɪnˈten.ʃən.əl.i/ [B2] (adv): vô tình
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