The Promising Future of China's Economy Essay

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

For an economy other than Australia, explain how government development strategies have responded to the process of globalisation.

The Chinese president is looking to boost consumption and import as part of efforts to restructure its economy (Hu Looks to Boost China's Consumption, Imports, (April 15, 2011). The Chinese energy consumption has been predicted to soar to 68% higher than that of the USA by the year 2035(China, India to lead energy consumption, (September 20, 2011). Investment spending is also set to increase from $12,633 billion (2011, 48% of GDP) to $29,628 billion by 2030 (38% of GDP) (CHINA - Gross fixed investment (% of GDP) from 2011 to 2030, EIU Country Data). In 2006 China had a rating of 5.00 and was seen ranked at 101st in terms of the degree of economic freedom as measured

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.

The China Boom: Why China Will Not Rule the World, by Ho-fung Hung. New York: Columbia University Press, 2016.

The Chinese economy is rising significantly, its economy in 1980 was smaller than the Netherlands, while in 2014 the Chinese increment of growth of its GDP is equal to the entire Dutch economy. As shown in the GDP chart in the article, the Chinese GDP is growing significantly compared to the rest of the world and didn’t even stopped during the 2008 financial crisis and the Great

There have been recent concerns about the United States’ involvement with China’s economic rise. A concern about China’s growth surpassing the United States in economic size within the decade and regulating purchases of power. China’s economy grew in 1979 upon opening to foreign trade, investment and a free market. The increase of China's economy caused the gross domestic product to grow in 2016 by ten percent. China soon had the lead in being the largest economic manufacture, merchandise exporter and importer and holder of foreign exchange reserves. Their control as one of the largest economies encouraged the United States to have commercial ties with them. China's huge influence made it the United States’ second largest trading partner,

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.

The belief systems that have been given rise to in China are religions thought out for thousands of years. All of them are different from each other, but also interlaced. Many scholars and thinkers spent a whole life devoted to further developing a way of thinking. Certain religions a take small part from others, and in the case of Neo- Confucianism, it takes whole parts and fuses them together. Chinese people in history have shown their devotion to religion. They have also shown their lack of interest in corresponding with other nations. There are many reasons why they have chosen not to be influenced by the west, especially when it comes to religion. Even though Chinese people

The goals of Deng Xiaoping’s economic reform were the ‘Four Modernizations’. This Four Modernization refers to the reform of agriculture, industry, national defense, and science technology. These reforms were to solve the problems of motivating workers and farmers to produce a larger surplus and to eliminate economic imbalances that were common in command economies.

China's Survival of Crisis Due to Economic Reforms In the years before 1976, many unwise policies were carried out which brought China into a crisis of communism, or a state in which communism was threatened. The Great Leap Forward and the Cultural Revolution were specifically the main causes of the crisis of communism and the mastermind between these two movements, Mao Zedong, can be held responsible for their initiation. The Great Leap Forward was a great economic failure. Years of famine and intense suffering came about as a result of this skewed project of Mao's.

This paper was prepared for GD530 Economics and the International System, taught by Professor Snow

In the current anarchic world, The United States acts as the global hegemon. However, China’s recent rise to power has lead international relations experts, Ikenberry, Mearsheimer, Subramanian, and Friedberg, to predict an upcoming power shift in the international system. China’s increasing control over the Asia-Pacific region has threatened U.S. power. According to Waltz, the realism paradigm interprets the anarchic structure of the international community, as a constant power struggle. Although each country may be different, to survive, they must all strive for power. Under the liberalism paradigm, the system is still anarchical but cooperation may be achieved by shared norms, and aligned political and economical interests.

The ongoing economic rise in China effects the US in many ways, including things that some people wouldn’t even consider. It can be seen that the Chinese are beginning to need more jobs, but can that be because some of theirs are being given to us? And, that’s not the only thing they’re giving us. China has the proven to be worst pollution in the world, and it has gotten to the point where the polluted air has travelled overseas to the US, and has begun to take a toll on us. But, they’re not only giving to us. Because of it becoming harder to find jobs, the students push themselves to the limit to become perfect, which could create competition with graduates here in America.