China has reportedly become the second biggest economy on the planet. Quite an accomplishment, considering just a few decades ago the international community regarded her as "third world."

Don't miss:

How rich are we?

In the eyes of many people, China doesn't fit the expectations of a rich country.

After all, what's an economic giant supposed to look like? Would it be able to control air pollution? Couldn't such a nation hire enough traffic police to assure pedestrians, bikes and cars all travel in the correct lanes to keep traffic flowing? And shouldn't the world's second largest economic system be able to stamp out all traces of absolute poverty?

A lot of people around the world don't realize how multi-faceted China really is. Walking over a crossover bridge tripping over beggars, you'll see below you a street crowded with Mercedes and BMWs. While housing prices are skyrocketing, the workers building the homes live in tents.

University campuses are adorned with beautiful parks but many students live in substandard dormitories. The country is certainly rich, yet there are so many aspects of China that don't reflect a strong economy.

I wasn't surprised to hear China had become the second biggest economy, but I still had a lot of questions.

For example, why don't public restrooms, even on college campuses, have toilet paper? And when I wash my hands, why do I have to wipe them on my pants in the absence of paper towels - or if there is an electric hand dryer, why is it always broken? And there's that pothole that almost knocks me off my bike every day. Can't the country afford road repair? Why isn't tap water purified?

Everyone knows the rich are getting richer, and the poor - well, they may not be becoming poorer in absolute terms, but they still have to pay higher prices for goods.

Regardless of who has the money, China has climbed to the top. When I first moved here 12 years ago, some locals told me they dreamed of a time when China would overtake the US as the world superpower.

According to an aptly entitled article in the December 9 issue of The Atlantic: "We're No.2," a recent poll indicates the US has become less optimistic. Reportedly only one in five Americans said the US economy was still No.1. On the contrary, nearly half said the world's strongest economy today was China!