The population is creating an overwhelming pollution problems and good healthcare is still expensive and not available for everyone. The Chinese government is currently working on these problems with it's neighboring country, Japan. Japan is currently aiding China in hundreds of millions of dollars in medical aid each year. In exchange China has agreed to open it's economy and to import more Japanese products. Due to the fact that these countries are more competitive now and have more money, they are willing to import more and the US is able to export more goods to them.
Globalization is still a major concern in the world.
Even though each country is dealing with it in its own way, they all are making daily progress.