In the short period of 70 years between 1949 and 2019, socialist China has lifted itself, through unwavering efforts, from economic and cultural destitution to become the worlds second largest economy, largest manufacturing nation, largest trader of goods, second largest consumer of commodities, and second largest recipient of foreign investment. It has held the world5s largest foreign exchange reserves and contributed about 30% of global economic growth for many years running, while its GDP accounts for 15.2% of the global total.