China will be okay....as soon as they help over 800 million people in the rural provinces come out of poverty and give them some education. The rest has it better

China's workforce is not being exploited, its being paid the wages they are asking for. The government there knows this, as their GNP is quite high, seeing as their import/export ratio is WELL in to the black.

I know its hard for us Americans to admit or understand, but China controls the trade relationship we have with them. If the government there increased the tarrifs or pushed a (relatively) higher minimum wage (let alone calling in our national debt to them) it would push the US in to a decades long recession.

I don't pity the Chinese people, I pity the Americans with their heads up their asses who don't understand how much our econy is dependant on "third world" countries.

Is it possible to have every country in the world a 1st world country?

I assume your question was intended to be facecious, but in case it wasn't yes it is possible. Though they are broadly misused (as is the case in describing china as a third world country, as it is not,) the terms first, second, and thrid world countries are used to catagories nations based on their Human development index, which is calculated based on things like life expectancy, education, etc. Through some (i'm sure convoluted) formula, a decimal number is assigned for each country based on the criteria, and the qunatatative "worldness" is assigned. So if all countries in the world were above the threshold between first and second world, there would be a world full of first world countries.