China 's Influence On Economy

Since the reform and opening up, the economy of China grows significantly, as an emerging economy, China's economy has made tremendous contributions to the global economy, and Renminbi has become one of the most important currency in the world. According to the survey conducted by China National Bureau of Statistics found that from 1979 to 2012, China has attained an annual average growth rate of 9.8% for its national economy, while the annual average growth of the world economy is only 2.8 % during the same period. In past 30 years, China's GDP surpassed Japan’s, China became the world 's second largest economy, in addition, the huge total volume of trade makes China become the world 's largest trading nation. The contribution of China’s

The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.

To capture the benefits of globalisation, the communist government has moved its focus from domestic to trade oriented. China has become the second largest economy in the world. Since 1980s, it has gone from being the 12th largest economy in the world to the second largest. This indicates that its economy has been growing with an average rate of 10 per cent per year for the last three

With a gross domestic product (GDP) calculated at the equivalent of $11.06 trillion and an average growth rate of 1.84 percent, China has the potential to surpass the United States' economy by the year 2030 (citation 1). China's rapid GDP growth is caused mainly by state investment, high exportation, and successes with e-commerce (citation 2). However, China was not always a country eager to open its doors to economic opportunity. Instead, the government strove to maintain self-dependency and to limit influence from other countries. Through the decades of isolation, many countries attempted to gain trade relations with China. These attempts usually were unsuccessful. It wasn't until the late twentieth century until China began forming the economic

For the past century, Chinese society has felt a compulsive desire to develop at breakneck speeds. In pursuing development, China’s primary goal has been to display its sophistication to the world, rather than to directly aid the welfare of its citizens. Following this hierarchy of objectives, China has continued to relentlessly modernize despite enormous negative consequences; the development powered through famine during the Great Leap Forward, violence during the Cultural Revolution, and economic dislocation during liberalization, accepting negative consequences as bearable burdens on the path to global renown. Ignoring these issues, China has proven itself more responsive to international views of modernity than to immediate national

Globalization is a process that refers to the increased integration between different countries and economies as well as the increased impact of international influences on all aspects of life and economic activity. Over the last 50 years, globalization has had a tremendous impact on the Chinese economy. The impacts brought forth by globalization can be both positive and negative and effect both economic performance, economic growth and the development of China’s economy. Globalization is the main factor responsible for China’s significant growth that has taken place over the last two decades. However, globalization itself is not entirely responsible. The Chinese economy has also implemented strategies which have been very effective in promoting economic growth and development. These strategies include the implantation of“Open door policy”, “Reformation” of China’s agricultural system and joining the World Trade Organisation.

China has long since been recognized in the world for its natural and man-made products such as its silks, satins, and its delectable cuisine. During post classical China, China’s influence was not only spreading across the country, but was spreading across the world. Economically the Chinese ideas and innovations began taking full affect across Eurasia. The Chinese art of producing salt by solar evaporation soon spread to the Islamic people, as they began using the technique for themselves. Other Chinese innovations such as papermaking, printing, and gunpowder all began to spread to other civilizations such as Korea, Vietnam and Europe. With the creation of canals, networks commerce, waterways, and technological achievements, the Grand Canal,

For many decades, China has always been technologically and economically ahead of Europe. The invention of gunpowder, printing, and the compass started in China and was later dispersed throughout Europe. These inventions changed China as much as they changed Europe. These inventions also caused a gap between China and Europe. By the late eighteenth century, industrial revolution first started its spread from Europe.The transformations within Europe began to further accelerate while China was falling behind. In Europe, economic transformation was accompanied by social transformation. The social and demographic changes that were taking place, created the pressure for political change as well. Europe was expanding both demographically and economically, which strengthening their power in the global order. Conversely, China constrained itself from the outside world and focus on internal progresses ranging from agriculture to social classes. Why were industries in China more labor-intensive than those in Europe? In addition to its diverse geography and the belief of being self-sufficient, China struggled to transition to experiment-cum-science-based invention as well as rejecting the opportunity to create bonds and capital markets with other nations.

Moreover, after setting up economic institutions and an industrial base, Deng Xiaoping established various Special Economic Zones in China that allowed for increased foreign investment, helping to develop China’s commercial growth. As described before, when Deng Xiaoping came to power, his goal was for China to fulfill the Four Modernizations: modernization in agriculture; industry; science and technology; and defense. Deng believed that the only way China could keep up with Western countries was if China achieved the Four Modernizations. Specifically, in order to achieve the Four Modernizations, Deng had to fulfill a two-step goal. The first stage was to build up economic institutions and to set up a strong industrial base, both of which had been denied to China during Mao’s Cultural Revolution. The second stage of the Four Modernizations was China’s emergence from isolation and integration into the global economy, both of which were crucial for China’s commercial economy to develop. Deng Xiaoping’s biggest accomplishment was his achievement of this second goal. Specifically, the period of time when Deng reformed and opened up China to the world is known as 改革开放, which is pronounced Gaige Kaifang. What separated Deng Xiaoping from other leaders in the past was that Deng’s method of thinking was very pragmatic. He recognized Mao as a hero to modern China, but also believed that some of Mao’s policies were wrong. Deng’s famous quote was: “黑猫白猫抓住老鼠就是好猫,” which translates to

´´Currency manipulation is the cause of the U.S. trade deficit with China´´ (Geithner, 2009 p8, Morrison 2009, p3, Feenstra 2006, p29 ) is one of the most common claims that economists make when regarding the current trade relationship between U.S. and China. Although several economic policy reforms have contributed to the management of the RMB (Chinese currency), the statement ´´ the larger China’s external surplus is, the more undervalued is the Yuan´´ established by Zhe (2007 p11) seems to clarify that China´s currency is being manipulated by the government. This kind these strategies in order to enhance its competitiveness. This currency manipulation is becoming a difficulty for U.S and China´s

China is still firmly placed to overtake the world’s largest economy, the US, by the end of decade. This would be a shift in the hegemonic influence over economic affairs not just in the region, but in a global context. When the Chinese economy sneezes, the rest of world’s economies get pneumonia. A loss in the percentage of growth in the Chinese economy reverberates through the rest of the Asia-Pacific region’s economies.

At present china is the second largest economy in the world and there are many ideas that china is pushing its way to the top however recent forecasts have showed that china will not overtake the US until the year 2028 which is much later than expected, although china’s sudden rise in economic power within the past

Since the 1980 's China is a develop country that never stop until now, and will rise to dominate the world in the Twenty First Century. China has a big potential geographic realm, population and natural resource which not else has in the world. Based in China 's economic miracle from oriented economy to open market it is presented a transitions economy with more orderly, established, and accommodating that could have been imagined for all of us. It started from zero economy level and will grow may falter because existed same good reasons for which I agree. China is an example of the great economic growth with capacity and influence in all world because; it has massive global trade and investment ties, it has positive result of structural reforms with free market force and it has a rule military armed force.

With the economic development of China rapidly increasing, China has gradually attracted the attention from the worldwide publicity, state media reports, and it has become one of the important players in the international sphere. In general, economic development and growth has become one of the most significant factors for China’s successes. Historically, there are three main periods since the founding of China, which are after the establishment of the country, the period of the opening policy, and the contemporary period. Each historical period has significant influences for China’s development. Hence, I will illustrate how China’s economics developed so fast from the past to modern, and how its economics affected Chinese society and its own market.

Today globalization has an impact on all nations. China is a nation that many rely heavily on. This shows an importance with the economical welfare of China. If China has a downturn in its economy other nations are impacted as well. China contributed “19% of the world's economic growth in 2010, and that's expected to increase to 24% this year” (Miller, What If the China Bubble Bursts?). This depicts the impact that china could have on the economical growth of the world. Due to the economical situations within the United States and Europe, China's growing strength is essential for the recovery of U.S. and Europe. A major issue is "if Chinese land prices plummet, there will be less demand for raw materials and a steep decline in world commodity markets and