The World 's Economic Superpower Essay

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.

War is a part of history. For centuries, humanity has fought wars over resources, land, and even people. The Chinese are no different they have fought wars over the same reasons and have made the same mistakes. The wars, rebellions, and revolutions have shaped China to what is today.

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.

. 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

Globalization is an important term that is partially responsible for an economic revolution that took place around the world. Theodore Levitt, a former Harvard Business Review editor, coined the term “globalization” and used it for the first time in one of his articles in 1983 (Los Angeles Times magazine, 2006). According to the Business Dictionary, globalization can be defined as “the worldwide movement toward economic, financial, trade, and communications integration” (businessdictonary.com). China can be considered as an excellent example to demonstrate globalization. When Deng Xiaoping was elected as the Communist Party leader, he brought about economic reforms that opened the Chinese economy to the rest of the world and later introduced itself into the World Trade Organization (WTO) in 2001 (bbc.co.uk, 2006). Hence, expanding the growth rate of the Chinese economy, which has been constantly rising over the past decade. As of 2016, China is the second largest economy in the world with a GDP of $12.9 billion USD, and will continue to grow following the trail the United States (money.cnn.com, 2016). The emergence of China and its success as a powerful economy in the world can be partially credited to globalization. The following paper focuses on both the positive and negative ways in which China has been affected by globalization and its outcome that has placed China to where it is today.

Some major trade policies have negatively impacted the trade patterns of the two countries in a way that in spite of their growing ties, the bilateral trade relationship is often laden with complexities. According to U.S., China’s unfinished ‘transition to a free market economy’ is the root cause for many trade tensions. While China has liberalized its trade governance over the last thirty years, it continues to maintain

In the past decade, China has proven their potential to be peaceful in their rise to power. The United States was acknowledged as one of the leading world powers in the late 19th century, following the Cold War. This power came to be as a result of significant domestic industrialization and widespread international influence. However, China’s case is a bit more complex. It’s rise to power was marked by the Communist Party’s completion of its sixth 5 year plan in 1982. Despite the country’s rapid development, much corruption and violence had occurred in its beginning years. Still, China will likely not repeat the same mistakes and will avoid international conflict in its advancement. This can be predicted by examining the country’s current economic growth, stable relationships with trading partners, and their keen focus on keeping citizens satisfied with the government.

China has always been a country talked about whether it’s because of trade that the U.S. and other countries are involved in or how much they have grown as a country. You usually hear a story in the news about their growing power. China has become one of the top countries in the world ranked as #2 right behind the United States with a GDP of $10.4 trillion U.S. dollars as of 2014 and continues to rise. China has transformed itself to a manufacturing and exporting hub since they were a centrally closed economy in the 70’s and has grown over 7% in the past couple of years while continuing to grow. What makes China’s economy powerful? As you continue to read this research paper you’ll understand why and how China has grown with their economic, military, and political power.

For many years China has been the leading economic power in the world, even surpassing the United States. Recently, the country has been hanging onto that title despite its weakening economy. China’s economic growth has been declining due to job losses and lack of manufacturing. However, there have been numerous attempts to fix this problem. According to an article in the New York Times, China has created a new world bank — despite skepticism about that idea by other nations including the United States – in order to maintain its global and free economy. China has been trying to maintain a free economy, an idea that would not have worked or even been conceivable during the time China was a communist state. There were many attempts to try

On October 10, 2000 President Clinton's Signing of Legislation Establishing Permanent Normal Trade Relations for China Marks an Historic Moment in U.S.-China RelationsThe United States interest in China is both on an economic and social level. However, the economic level is much higher. China's accession to the WTO will encourage Chinese leaders to move in the direction of meeting the demands of the Chinese people for openness, accountability, and reform. The agreement negotiated last December with China is expected to have three certain results. This can deepen Market Reforms. Also, it obligates China to deepen its market reforms, empowering leaders who want their country to move further and faster toward economic freedom. This agreement will expose China to global competition and thereby

Some major trade policies have negatively impacted the trade patterns of the two countries in a way that in spite of their growing ties, the bilateral trade relationship is often laden with complexities. According to U.S., China’s unfinished ‘transition to a free market economy’ is the root cause for many trade tensions. While China has liberalized its trade governance over the last thirty years, it continues to maintain a couple of

We will begin our analysis of these questions by examining China’s economy at the time of Deng Xiaoping’s accession to power in 1978 and the economic growth strategy he and his successor implemented which ultimately led China to ascension into the WTO. We will then review various conditions imposed upon China by the WTO and how China reacted to those changes and to what extent these lead to China’s current status and interaction

The purpose of this essay is to show how the economy of China has, and is changing, becoming the second largest economy in the world today. Although China is currently under the leadership of Xi Jinping, this essay will concentrate primarily on the actions undertaken by then President Mao Zedong, followed by then President Deng Xiaoping, (sans mention of Hua Guofeng). Given the relative infancy of Xi’s assumption of power, economic policies still remain largely rhetorical in form. Likewise, the majority of literature concerning economic policies under Xi are largely speculative, often citing strategies and ambitions as opposed to thereby, lacking a solid basis for rational induction In addition to China’s lack of transparency, In addition, it will be shown that the methodology behind the Chinese economy demonstrates the implementation of varying levels of the characteristics associated with the schools of Realism, Marxism and Liberalism. Thus, China’s approach to global trade in the 21st Century is pluralistic, testamentary to the failed economic

Currently, China remains the world 's second largest economy. However, the Chinese economy in the two phases of communism (Mao and Deng) differs as to its position facing the foreign market, its economic plans and the socio-economic characteristics of the population. The first phase, which under the rule of Mao Tse-Tung, was characterized by China’s isolation from the Western - being in trade and political relations; by a predominantly rural and impoverished population; the existence of a centralized economic planning; by the government control of the means of production; and the adoption of plans which, in turn, emphasized the development of basic sectors of economic activity, such as mining, steel, oil, and agriculture (Lam et al., 2015). It was clear that if China wanted to experience real economic growth, major reforms would need to take place in order to achieve such milestone. In that sense, China should consider easing its acceptance of international investors, which would broaden international business possibilities, increase income for their small businesses, and increase inbound investments.

“It is only since the end of the Cold War that China’s leaders have developed policies that recognize that the future security and prosperity of their country requires the cultivation of close relations with the Asia-Pacific as a whole and with its neighbors in particular.” (Yahuda 2011, 137)