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China: China National
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China is a one-party state, with real power lying with the Chinese Communist party. The country is governed under the constitution of 1982 as amended in 1993, the fifth since the accession of the Communists in 1949. The unicameral legislature is the National People's Congress (NPC), consisting of deputies elected to terms of five years. The NPC decides on national economic strategy, elects or removes high officeholders, and can change China's constitution; it normally follows the directives of the Communist party's politburo. In the executive branch are a premier, who is head of government, and a president, who is head of state. Despite the concentration of power in the Communist party, the central government's control over the provinces and local governments is limited, and they are often able to act with relative impunity in many areas.
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Over the last three millennia, many previously distinct ethnic groups in China have been Sinicized into a Han identity, which over time dramatically expanded the size of the Han population. However, these assimilations were usually incomplete and vestiges of indigenous language and culture often are still retained in different regions of China. Because of this, many within the Han identity have maintained distinct linguistic and cultural traditions, though still identifying as Han. Several ethnicities have ... dramatically shaped Han culture, e.g. the Manchurian clothing called the qipao became the new "Chinese" fashion after the 17th century, replacing earlier Han styles of clothing such as the Hanfu. The modern term Chinese nation (Zhonghua Minzu) is now used to describe a notion of a Chinese nationality that transcends ethnic divisions.
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China has gradually loosened foreign exchange regulations facing foreign-invested firms. While China permits foreign investors liberal access to foreign exchange for current account transactions, like repatriating profits, capital account (financial investment) transactions are tightly restricted. Investors can ... purchase foreign-currency denominated Chinese bonds, in lieu of dollar payment. Authorities have begun to liberalize the exchange rate regime and operation of exchange rate markets. At the January 2007 National Financial Work Conference, Premier Wen Jiabao expressed concern about imbalances in China's balance of payments. Recent regulations permitting greater capital outflow and China’s encouragement of domestic firms to invest abroad appear to signal a broader effort to encourage greater two-way flows in the capital account.
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Since its retreat to Taiwan, the Republic of China has not formally renounced its claim to all of China, nor has it changed its official maps, which includes the mainland and Mongolia. Following the introduction to full democracy and the electoral victory of DPP's Chen Shui-bian in the presidential elections, the Republic of China has not pursued its claims on the mainland and in Mongolia. The current DPP Administration has adopted a policy of separating the state's identity from "China", while moving towards identifying the state as "Taiwan". The ROC has not made formal moves to change the name, flag, or national anthem of the state to reflect a Taiwan identity due to pressure from the United States and the fear of invasion or military action from the People's Republic of China against the island. The People's Republic of China claims to have succeeded the Republic of China as the sole legitimate governing authority of all of China, which, from the official viewpoint of People's Republic of China, includes the island of Taiwan. Over the last 50 years, both the Republic of China and the People's Republic of China have used diplomatic and economic means to compete for recognition in the international arena.
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As the PLA armies moved south to complete the communist conquest of China in 1949, the American Embassy followed the Nationalist government headed by Chiang Kai-shek, finally moving to Taipei later that year. U.S. consular officials remained in mainland China. The new P.R.C. Government was hostile to this official American presence, and all U.S. personnel were withdrawn from the mainland in early 1950. Any remaining hope of normalizing relations ended when U.S. and Chinese communist forces fought on opposing sides in the Korean conflict.
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China’s political strength became threatened when European empires expanded into East Asia. Macao, a small territory on China’s southeastern coast, came under Portuguese control in the mid-16th century, and Hong Kong, nearby, became a British dependency in the 1840s. In the 19th century, internal revolts and foreign encroachment weakened China’s last dynasty, the Qing, which was finally overthrown by Chinese Nationalists in 1911. Over the course of several decades, the country was torn apart by warlords, Japanese invasion, and a civil war between the Communists and the Nationalist regime of the Kuomintang, which established the Republic of China in 1928.
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