At the height of the Industrial Revolution, Britain was called the Workshop of the World. 1 That title surely belongs to the People\u27s Republic of China (PRC) 2 today. For example, China already is the world\u27s fastest-growing large economy and the second largest holder of foreign-exchange reserves. 3 Furthermore, China is now the world\u27s largest producer of coal, steel, and cement. 4 It is the second largest consumer of energy and the third largest importer of oil. 5 China\u27s exports to the United States have grown by 1600% over the past fifteen years, and U.S. exports to China have grown by 415%. 6 Lastly, China is a huge manufacturer and exporter of consumer goods, producing two thirds of the world\u27s copiers, microwave ovens, DVD players, shoes, and toys.
