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 towards protectionism. Strategically faced challenges are to protect its marine routes by deploying more military power and to have a close look towards the countries like Saudi Arabia from where she export oil. These all factors are concerned for china itself but the responsibility which it must share with the different states of the world are to re evaluate its currency as to stabilize the other markets, to decrease its trade surplus as to reduce burden on different states. No doubt China is showing its urge to go back to some extent of protectionism but its signs are not seen yet the fact is China is increasing its exports on the expense of its competitors (BBC News, 2010). But keeping currency devalued was not the only reason which affected the world markets, as during the recession, weak buying power of the customers forced them to buy cheap stuff made in China. Elimination of the textile quota in January 2009 also caused the increase in China’s share of the market (The Econoomist, 2010). I... ... middle of paper ... ...et (Cohn, 2008, p. 57). But it becomes, after certain level of progress, the nature of states that they exert a behavior which is not accepting any other hegemonic state dictating others and this is also, sometimes, hard to swallow for the existing hegemonic states to see declining its powers. And it happened when U.S. credibility as an economic super power is being questioned after current economic crises where China appeared on the globe with much more strong basis than predicted. Thus, if there are more than one power dominating the markets then this competing environment would stabilize the market more strongly. Realistic approach to the relative gains also diminishes in this case where China continuously worked for its absolute gains…. “China continued to put foreign policy second—this time for the sake of economic development” (The Economist, 2010).
In 1978, China was positioned 32nd on the planet in export volume, yet it had multiplied its reality exchange and got thirteenth biggest exporter in 1989. Between 1978 and 1990, the normal yearly rate of exchange extension was over 15 percent,[11] and a high rate of development proceeded for the one decade from now. In 1978 its exported on the in the world of the overall industry was insignificant, in 1998 regardless it had short of what 2%, however by 2010, it had a world piece of the overall industry of 10.4% as stated by the World Trade Organization (WTO), with stock fare offers of more than $1.5 trillion, the most astounding in the world.
Bearing in mind that the threat of China’s dependency on imports of natural resources has the potential to threaten the official ideology of Confucianism, the real threat is to the interests of the state and the Communist Party of China, because the future of the party and stability of the country is dependent on the continued growth of the Chinese economy. Maintaining the flow of raw materials is the main objective of the PRC because without them the economic engine of the China would be at a stand still, which has the potential to be seen by the people of China as a weakness and flaws in the current governing system. China should continue developing trade relations and international connections because the PRC has been remarkably successful in creating a network of countries who will be loyal in business and political reform. China has has a strategic focus on building relations with nations whom America is not keen on. This has also perpetuated the realization the the Chinese system of governance provides a second option to the ‘Western Consensus’, as a viable means for successful economic growth coupled with strict government control. China must operate multilaterally to continue the trajectory of relation and loyalty building in other countries. This will assist china with the key pillar goals of, building a comprehensive national power; advance incrementally in order to consolidate a position of strength, and maintaining stability, and with the objective that China will be in the position to continue imports of raw material to Chinese industry in the event of a sea trade embargo from opposition countries like the United...
Most economists predicted that a currency crisis was unlikely to damage China’s economy or trade; its macroeconomic fundamentals were healthy and it had the extra insurance of capital account controls. However, surrounded by neighbors in trouble, China could help but be somewhat effected by the larger, regional situation. The rest of the world continued to watch and worry about how much longer China would be able to defend its overvalued currency and still remain internationally competitive on an export basis (Song, 1998).
National economics are often adversarial in nature, a global contest where countries seek to gain advantage over their neighbors, all in the name of wealth and gain. America is no stranger to the game; the U.S. has been the world’s economic leader for the better part of a century. China, however, is the leading contender for the economic top-spot (), and America continues playing directly into China’s hand. America’s current trading posture with China is drastically skewed in China’s favor; if America is going to preserve its position as the leading economic power, existing U.S.-Chinese trading agreements will need to be revised, and additional regulations must be introduced to promote balanced dealing.
one of the world’s leading trade power, it is a goal that Chinese authorities are firmly
From 100 CE to 600 CE the Chinese had many cultural and political life changes and continuities. A political change was in the end of the Classical Chinese period when the Han Dynasty fell. A cultural change during 100 CE to 600 CE was the paper invention that led to passing down cultural rituals. Not only were there changes but there was also continuities in the Chinese political and cultural life. An example of a cultural continuity is the increasing power of Buddhism. A political continuity is the ruler of the Chinese wanting the people to be protected with for instance The Great Wall of China.
America is becoming more and more diverse, and Mansfield, Ohio is no exception. Although, only 1.8% of Mansfield’s population is Asian, the Asian American population is growing faster than any other cultural group. It is predicted by 2030, the Asian population will reach 20 million with the Chinese community growing the most. ( ) Personally, I have always admired the loyalty and respect the Chinese populace has toward their aged. This admiration has driven me to learn more, not only to prepare to work together, but to also assure I can lead others to provide culturally sensitive care to this growing community. As a nurse, I have always acknowledged individualism, but attaining “cultural competence is an aspect of nursing that will move the profession to its next developmental phase”. ( DeNisco,Susan and Barker Anne Chap 22, p 486 Advanced Practical Nursing)
However, the impact it has made on China can be considered to be great as it brought China under the limelight in the global economy. Globalization has had many positive and negative ramifications on the Chinese economy. In the short run, it may be so that the negative impacts outweigh the positive impacts, but that is easily debatable. This is because all the negative impacts of globalization can be corrected with economic policies that can be efficiently undertaken by the Chinese government. In this manner, China in overall will be able to enjoy all the benefits of globalization and contribute more to the rest of the world as it continues to grow economically and socially. In today’s world, globalization is an important part of the development and prosperity of each nation and China too should be able to reap from its benefits. Today, as China proudly holds a place in the global economy as the world’s second largest economy and most populated country in the world, it can be said
Taiwan opposition leader James Soong urged the island's independence-leaning leaders to take advantage of his "bridge-building" trip to mainland China to seek cross-strait peace.
From the 1970s, there has been a wave of liberalization in China, which was introduced by Deng Xiaoping. This is one of the key reasons to the rise of China to be one of the economic giants in the world. In the last 25 years of the century, the Chinese economy has had massive economic growth, which has been 9.5 percent on a yearly basis. This has been of great significance of the country since it quadrupled the gross domestic product (GDP) of the country thus leading to saving of 400 million of their citizens from the threats of poverty. In the late 1970s, China was ranked twentieth in terms of trade volumes in the whole world as well as being predicted to be the world’s top nation concerning trading activities (Kaplan, 53). This further predicted the country to record the highest GDP growth in the whole world.
China has also expanded their trading industries with countries such as South Korea, Japan, Taiwan, ASEAN, India, Russia and Hong Kong. This has not satisfied the Chinese greed for income as they also export and import goods to American countries, name...
In United States the economy has changed over the years the government wants their people to be more competitive and more marketable compared to other country such china. Many people have come to the conclusion that China may be a threat in the near future because of their growing economy and increasing influence in the world.
With the end of the Cold War emerged two superpowers: The United States and the Soviet Union. The international system then was considered bipolar, a system where power is distributed in which two states have the majority of military, economic, and cultural influence both internationally and regionally. In this case, spheres of influence developed, meaning Western and democratic states fell under the influence of U.S. while most communist states were under the influence of the Soviet Union. Today, the international system is no longer bipolar, since only one superpower can exist, and indisputably that nation is the United States. However China is encroaching on this title with their rapid growth educationally, economically, and militaristically.
A country’s struggle to power is much like that of two rivalling siblings. They are locked in a constant competition as they attempt to one-up the other. Countries do the same as they race against each other to produce better exports, and to attract more money into their economy. They are constantly vying against each other for the center of attention so that they are the main focal point of the international world. This competition continues until one finally relents, or blatantly falls, and allows the other to shine; much like how China is slowly managing to overtake the U.S. in terms of international influence. The success of one individual cannot remain forever, and eventually they will begin to fall. This is the current situation where the U.S. and China stand today as China is beginning to overtake the U.S. in terms of economic capability. With a superior economy, it is possible for China to overcome the challenges it faces as it moves into position as the next world power. Though, just like the pair of siblings, despite China’s recent successes, the other won’t disappear completely. The U.S. will not disappear into the background and allow China to take complete control as hegemon, or world power, and establish something akin to a uni-mulipolar system. A system where there is one main power and many already established rising powers. This uni-multipolar system allows for other countries to continuously compete for the position at the top.