Asi A Dynamic And Growing Global Capital

The last century has brought dramatic changes to the world. The globe has become more integrated, linking countries together economically, socially, and politically. Yet, as a result of this globalization, the world economy has become

China is a growing country; its population is about 1.4 billion, and as of 2014, the Chinese economy is the world’s second largest (in terms of nominal GDP,) totaling approximately US$10.380 trillion, with a growth rate of 7.4%, and the GDP per capita is US$3,619.4. From last century to this century, China has had significant improvements in their economic development. China had been in three major crises during the last century: the 20th century. The Fall of Qing Dynasty, World War II, and Civil War in China, all of them struck China in a destructive way. From the end of the 20th century, China was in a fast-developing mode.

There is a fierce competition for world dominance as China is poised to overtake the United States as the preeminent world power. China’s growing gross domestic product (GDP) rivals that of the US with economists predicting the Chinese economy will surpass that of the US by 2020 (Morrision, 2014; Strauss, 2013). In 2012, China had a GDP of $8.22 trillion (World Bank, 2014a) experiencing an annual average growth rate of 9.86% between 1999 and 2012 (World Bank, 2014b); whereas the US had a GDP of $16.24 trillion in 2012 (World Bank, 2014a) with an average growth rate of 2.15% from 1999 to 2012 (World Bank, 2014b). More than half of the GDP growth in the past decade can be attributed to labor income growth among college educated employees. Even during economic recession, income growth among college graduates had a positive effect on GDP (OECD, 2012).

Earth is bigger than what most people think; it consists of 7 continents, 7 seas, and 196 different countries. Taking that into consideration, our earth currently is supporting over 7 billion people worldwide. That is 7 billion people who are different and individuals who share different thoughts, ideas, backgrounds, and cultures. Cultures are very unique as they are different from country to country. Some adopt cultures that society accepts as the norm, while others adopt different types of cultures; cultures that not many people, especially those outside of the country, can see eye to eye and would sometimes find them rather ‘extreme’. When comparing Asian cultures and American cultures side by side, we can easily identify the many differences between the two. For one, Asian cultures are less open, more traditional and conservative in comparison to Americans. While Americans promote liberty, independence, and values individualism; Asian countries, on the other hand, are more fixated in keeping with the custom. Knowing this, it is not surprising to see Asian countries have a more rigid and structured form of society compared to the Western counterparts. The values, business structures and even priorities are different between the two and can easily be distinguished. Singapore is a good example of the contrasting differences and representation of the Asian cultures.

In the beginning of a book, “What Does China Think?” by Mark Leonard, introduces the China’s rise as an exceptional and remarkable event in the history that is even considered to be more significant than 9/11 terrorism or Iraq War. Afterward, the author mentions how China affected the world within the economical perspective; for example, half of the entire world product is labeled ‘Made in China.’ Besides focusing on the scale, the author brings us into deeper inquiry about China’s rise: How China’s rise will affect the world? Will China keep rising?

. In the contemporary scheme of things China makes up for roughly 11% of the world’s exports, an amazing feat for a country that practiced an isolation policy and communism only forty years prior. Additionally, China with a large-scale allocation of funds to improve poverty ratings has successfully brought four hundred million people out of poverty, into a lower-middle class. Now, while still competing with Japan for Asian hegemony, China enjoys a great deal more security and prosperity through its transformation from a failing communist state to a wealthy hyper-capitalist state. Through capitalistic economic reforms, an export led economy, and efficient one-party, authoritarian politics China has been able to bounce back from three decades

Liu's (2012) article for Time magazine, entitled, "Why China's Rise is Great for America" was triggered by his having encountered a book called Becoming China's Bitch. Liu (2012) expected a "xenophobic rant" about the "sinister, relentless yellow horde" but instead read "a squishy pile or moderate policy recommendations," (p. 1). The topic of China's economic power and its relationship to America's dwindling political and economic clout is one of the most topically relevant. Liu (2012) talks about America's "profound problems" including a "faltering educational and physical infrastructure," (p. 1). China has its own problems, notes Liu (2012). Both countries are now enmeshed in a codependent or mutually interdependent, to put a positive spin on it relationship. The author notes that whereas once the discourse included fearful references to the Communist threat; that now the literature is filled with talk about the decline of the USA.

Globalization may be an overused word, although the new version of international capitalism is still so recent that the actual system on the ground has outrun the scientific and theoretical vocabulary that describes it. As a system, international capitalism is rapidly eliminating geographical and political boundaries, as Marx predicted in the 19th Century. In the global, postmodern economy, branding also involves relentless synergy and tie-ins between various diverse lines of products. Films and cartoons market their images to toy companies, fast-food restaurants and cereal manufacturers, generating billions of dollars of revenue annually, as does the commerce in seeds, genetic materials and even human body parts. Western science and technology have been synonymous with modernization and development in India and other Asian nations, even though this paradigm ignores the historical and cultural that has existed in many civilizations over the centuries.

We now live in an era when China has more millionaires, more cities with populations exceeding one million, more Internet users, and more skyscrapers than any other country. It figures centrally in the most pressing issues of our day. China produces more greenhouse gases than any other nation. It has vast holdings of U.S. treasury bonds and its factories fill the

China becomes the second largest economy in this world and it has showed the remarkable economic performance over the last two decades after The United States. China’s gross domestic product (GDP) as Share of World GDP at PPP 25 years ago only reached around 4.7%, now China contributes 16.32% of world GDP. China exports the relative cheap products that lowered consumer prices across the globe, and its imports have had a major impact on global commodity prices. China also has become a major hub of interindustry trade. Regarding those facts, China may become the engine of the world economy.

By the 1960s, it was believed the riches of these two nations had reached rock bottom. However, in the last forty years we do not speak of China and India as we once had, concentrating on their ancient wisdoms and deficiencies. Today we view China and India as dynamic modern economies. China is ranked the second largest economy in terms of gross domestic product in purchasing power parity. Together the two nations account for 19.2% of world GDP, and 37.5% of the world population. It is evident that these two countries have taken substantial

Over the last two decades, what was once a developing country has grown into the economic superpower that is China. China passed Japan to become the world’s second-biggest economy in terms of GDP in the second quarter of 2010 and was said to be on track to surpass the United States in 2027, with an annual GDP of $14 trillion (Bloomberg). Since China became a larger and more influential country, it is now important to realize that the global economy depends heavily on China’s actions. Their exports have lowered consumer prices across the board, and their imports have impacted commodity prices. However, in recent times, China’s economy has

For the past twenty-five years, China has witnessed an overall increase in its domestic growth (Fischler 148). According to the article, “The Rise of China as a Global Power,” by Dr. Rosita Dellios, China “is the world's fourth largest trading nation, rising from 32nd in 1978 to 10th in 1997.” Similarly, China’s GDP is also second to the United States of America, generating 13 percent of the world’s output (Dellios). Since China’s introduction into the World Trade Organization in December 2001, its average tariff dropped from 41 percent in 1992 to 6 percent in 2001, becoming one of the most open economies in the world (Dellios). China is also the world’s fastest developing economy, obtaining an annual growth of 9.5 percent through foreign

Looking at the GDP chart in the previous section, and you see the economies of Japan and China have become world powerhouses. This growth has produced wealth and development in these countries. Images of Chinese streets filled with bicycles and pedestrians have been replaced with those of bustling, building and growing cities. Because there is so much manufacturing going on in these countries, the cash flow has started to reach the smaller cities and towns. Among the improvements to these once isolated farm villages are electricity is being brought in, water supplies and schools are being built. More and more Chinese and Indian nationalists are purchasing automobiles further expanding their connectivity to each other, thus increasing the demand for more production.

Eastern Asia has been at the center of ‘economic miracle’ due to fast economy development, poverty in the region has been reduced by about two thirds. East Asia consists of 7 economies that are China, Japan, Mongolia, North Korea, South Korea, Hong Kong and Taiwan. The developed countries in the region of East Asia include Hong Kong, South Korea and Japan. Developed countries are determined by GDP (Gross Domestic products) per capita, income per capita, standards of living, economic growth, employment rate, gap between rich and poor, access to amenities including education and health.