The historic downgrade of US by Standard's and Poors marked a decisive downturn in its economy. Back at the end of Second World War, the World Bank's leadership was assumed by the United States, GATT and now in this era, the same moves are being repeated by the Chinese.

During the year 1978, the Chinese opened up their markets for Globalization and FDI has helped China becoming a trade nation. Many investments on the Chinese companies are becoming a brand abroad, and have climbed the tall ladder of NASDAQ. The Peoples Republic of China, in recent settings started to throw up a new façade, a façade of Corporate China. It started buying up shares around the globe, and started lending out to nations across. Now it stands as the world's biggest creditor though the world didn't celebrate the efforts beefed up by Chinese Government when it tried to buy Unocal, an offshore oil company, the majority of the financial sectors had their eye brows raised as the money involved amounted close to 18 billion dollars!

A World Bank survey states that the hundreds of Chinese firms that go abroad in search of better markets go with the prime aim of securing resources, obtaining technology, brands and oils. In this desperate and disparate race for oils in Africa, both the Chinese and the US are involved. Though these firms make it up on top hundred, they lack the etiquette and norms while Research says that they lack diplomatic skills, good governance and corporate bureaucracy.

The year 1993, had been an historic year for the Chinese as they embarked on a new venture, a venture for energy. China ranks as a third imported of oil and the second in the use of oil. Chinese hunger for oil is expanding and they have spent up their resources for buying oils across the ends of the earth, from Canada to Indonesia. They even have secured the rights to explore oils in uncharted territories.

Over the past few decades, China has established strong business relations with various nations such as Australia, U.S, France, and Canada. Right from its beginning the Chinese has suffered from a massive blackout caused by brain drain, thereby giving more incentives to the educated masses. They have sought to retain them by allowing them to go out, and return back with higher reins of technology and providing them with higher job offers, even entrepreneurs from Silicon Valley have sped up technology transfers to China.

China is among the US major partners, with exchange amount leading to about 239.6 US dollars, (as of 2007). Researchers suggest that the higher holding of bonds and creditor of US debt has risen fresh hopes on older minds as they speculate the rise of Chinese aristocracy over US particularly by leveraging the US's debts with their policies, thereby eventually manipulating their decisions. China is expected to make a cross over with new policy terms in the coming years for better business prospects.