The People's Republic of China has enjoyed a rapidly growing economy for decades, with China's export market the key factor in its economic success. However, recently, economic growth and import and export growth have been declining and are at their lowest rates since the late 2000 economic crisis. These may be indications of a slowing economy, which could spell disaster for the People's Republic, which has set its sights at competing with America for economic superpower status. It is possible that the increase in living standards and wages throughout China has increased the prices of its exports, making them less financially desirable. Only time will tell if the world's second largest economy still has the steam to maintain high rates of growth.