Essay China

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China is well aware of its economic strength, the position in the world it holds, the challenges it will face in coming years and the responsibility on its part to be shared. This huge economic strength has made china an economic power which, now, can manipulate markets accordingly. E.g. China, despite of huge world pressure, is not showing her will to re evaluate its currency. Challenges it going to face are, domestic and international, strategic and economical. Domestic challenges include the inequality in its society where rich is getting richer and poor is getting poorer. International challenges are to keep its status alive in order to maintain its growth in upward direction when more countries are, after the financial crisis, heading …show more content…
On one hand China is seeking more and more world markets while on the other hand it is refusing the European or world companies to operate in more effective way in Chinese markets (Business Day, 2010).
Table 1 describes the status of China-U.S. trade.
Status of China-U.S. trade
Table 1: China's Trade with the United States ($ billion)
Notes: US exports reported on FOB basis; imports on a general customs value, CIF basis
Source: US International Trade Commission 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
US exports 16.3 19.2 22.1 28.4 34.7 41.8 55.2 65.2 71.5 69.6
% change 24.4 18.3 15.1 28.5 22.2 20.6 32.1 18.1 9.5 -2.6
US imports 100.0 102.3 125.2 152.4 196.7 243.5 287.8 321.5 337.8 296.4
% change 22.3 2.2 22.4 21.7 29.1 23.8 18.2 11.7 5.1 -12.3
Total 116.3 121.5 147.3 180.8 231.4 285.3 343 386.7 409.2 366.0
% change 22.6 21.4 21.2 22.8 28 23.3 20.2 12.7 5.8 -10.6
US balance -83.7 -83.0 -103.1 -124.0 -162.0 -201.6 -232.5 -256.3 -266.3 -226.8

(China’s trade surplus was the key issue during the last G-20 meeting)

Theoretical perspectives:

“Economic imperialism is a potent weapon of gaining and maintaining domination by one nation over another, not through military conquest, but by economic control.” (Morgenthau, 1993, cited in OGEN, 2008, p. 524) )

Gone are the days when the stability and strength of the states was determined by their

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