On March 5th, 2011, China reported an annual GDP (Gross Domestic Product) growth rate target of 7% over a 5 year span (2011 to 2015). This is significant because it is a revision of their long held 8% growth target as the existing economic policy. The primary aim of this plan is to promote quality over quantity. China’s GDP is currently ranked second in the world; however the number of Chinese citizens at the poverty level is in the hundreds of millions. This is due to the fact that the previous high expansion growth policy has caused many problems such as income and class disparities. China also announced that it will implement an expansionary policy of demand and consumption with expansion of its domestic markets. Meanwhile, our country’s exports to China exceeded 25% of total exports in the previous year. As a result, our economy may be influenced by the expansion of China’s domestic markets. China’s new focus will have strong implications for the entire world.