Earthshaking changes are taking place every day in China, causing the world to change its views on what it once saw as an interesting but rather unimportant eastern country.

The U.S., the world's largest economy, feels the effect of the changes more keenly than other countries and has spent the last 20 years coming to terms with them. Generally speaking, the U.S. is realistic and has remained relaxed in the face of China's peaceful rise. Nevertheless it sees China's development as of great significance. In addition to closely monitoring China's military moves, it sends large numbers of students to study in China and prepare for a changing world.

Other countries are also taking action: After experiencing economic stagnation for a decade, Japan has changed its stance on China: Instead of seeking to be one of the world's great powers, it now sits with China and other large developing countries as equals at G20 summits, negotiating on global financial and economic issues. The EU is also weighing its relationship with China in its political and economic dimensions. Developing countries, following the Copenhagen Climate Summit, have a clearer understanding of how China plays a key role in defending their common interests and how China is able to influence the world in the direction of balanced development.

According to the latest official statistics, China became the world's second largest economy in 2009. This will undoubtedly lead to higher expectations from the rest of the world. Other countries expect China to continue increasing exports and imports so that they can profit from its growth. Stuck in financial crisis, they also expect China to boost domestic demand and reduce its trade surplus. They expect China to make more effort to protect its people and the environment. Most of all, they expect China to meet absolute emissions reduction targets in the fastest possible time even as it continues its rapid economic development.

These are not only the expectations of other countries, but also China's expectations of itself.