Essay about Economic Power: China vs USA

Essay about Economic Power: China vs USA

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During pre-modern times, China’s economy was in constant growth and stable due to its high influence in commerce along trade routes that moved across the Old World. Since China was deficient in technology and innovation that would push its economy and it commercial relationships with other countries, America became an economical power and its global influence expanded which resulted in its surmount above other economies including China’s . China lost against America in the economy and America took first place. After the September 11, however, America’s economy began to fall; it was not until 2013, when the economy began to rise. Although America’s economy is growing as time goes on, China’s economy is also growing. China’s growing rate is higher than America’s, and if this continues, China’s economy will soon pass America and takes its place as number one.
Before Bill Clinton presidency, America was in a economical deficit state but after Clinton presidency the country was in a economical surplus, but when George W Bush left office, America was in an economical deficit because the government has been overspending and spending more money than they receive from taxes. This shows a trend, because America has went from a deficit to a surplus and back to a deficit. This deficit had only worsen until 2013, where the economy finally began to rise again which shows the trend of rise in economy again. According to article 2, published by Abc business news, America’s economy has risen 4.1 percent which was caused by an increase in consumer spending, mainly in health care. All this clearly makes readers infer that America’s trend is happening, and that now is when America is slowly trying to regain its economy. This rela...


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...2028 China would have replaced America in its ‘number one’ economic position in terms of economics and much will change in terms of business and economics but America would still be a very influential and powerful economic country because America will be the second most economically powerful country.



Reference
“Fact Check. "The Budget and Deficit Under Clinton.” FactCheckorg. FactCheckorg, Feb.-Mar. 2008. Web. 31 Jan. 2014.
“US Economy Expands at 4.1 Percent Rate.” ABC News. ABC News Network, n.d. Web. 21 Dec. 2013.
“No Rush to Rebalance China's Economy.” Http://news.xinhuanet.com/. Ed. Peng Fu. Xinhuanet English.news.cn, n.d. Web. 11 Feb. 2014.
“China's Century: 'More and More Economies Will Want to Trade in Yuan’.” - RT Op-Edge."China's Century: 'More and More Economies Will Want to Trade in Yuan' - RT Op-Edge. Rt.com, 04 Dec. 2013. Web. 11 Feb. 2014.

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