Why did China’s leaders place so much importance on the accession to WTO? The most widely cited reason for China’s push to join is to keep the process of reform going. In many ways, the WTO membership was the best way for China to hold economic growth. The world economy has become much more complex and interdependent, and China's participation - based on the rules of international trade - was essential for China and for the rest of the world. As a WTO member, China would be able to participate in the formulation of rules governing international trade and investment.
However, the impressive growth rate of China's economy is not without its shortcomings. Problems such as inflation and inefficient state-owned enterprises plague the rise of the Chinese economy. The main goal for China's modern foreign policies is the development of the Chinese infrastructure. The significance of improved communication and transportation cannot be over-stressed. Economically, enhanced means of communication and transportation allows more expedient supply and demand scheduling.
Government owned companies that were losing money will not survive with out drastic changes. This will lead to high unemployment while the Chinese market transitions to this new economy. The Chinese will need a social security and public health care system to deal with the temporary unemployment. The agricultural industry will be hurt most by this new competition. In the political realm china will no longer be totally free from ‘spiritual pollution’ and ideas t... ... middle of paper ... ...they are liable to become dangerous once again.
Although there has been booming trade between both countries, Chile increasingly feels the pressure of Chinese market competition and furthermore both countries have lost out in the advancement of foreign direct investment. With Chile’s chief exports comprising natural resources, China has a more lasting market power simply from the fact that their primary export industry is not perishable. This conjures the question of to what extent will the Chile-China free trade agreement be impacted in the future if Chile’s does not invest in new export market materials.
This became possible as the result of China joining WTO in 2001, which opened the market for Western companies by removing the trade barriers. -1- Economic: Economic factors are crucial to Tesco since they are directly related to profits, costs, prices and demand. One of such factors is unemployment rates. Following the economic downturn the percentage of unemployed people have grown rapidly in the UK as well a... ... middle of paper ... ...ntering the new market is always risky, however Tesco have managed to minimize that risk in the past by entering into partnerships and strategic alliances with local companies. By further expansion in Asia, Tesco could generate more profits from demographically high opportunity markets.
This paper is about the important of economic growth because is linkage with the globalization. The globalization brings the world into new level which makes us as a community to more interdependence to each other’s. This paper also explains how China develops their economy based on the historical, from close door system to the openness door system. The China’s rise as global economic superpower over last 30 years is example of globalization. It also examines the political influence during the Deng Xiaoping development policies in the Chinese Communist Party toward China economic.
Almost simultaneously, great recession occurred in the U.S. and caused damage to U.S’s imports. This problem probably limited China’s exports, so I assume that great recession is the reason of stagnation and slight decrease. (This argument and argument B help explain thesis statement (c)) D. The WTO brought advanced technologies, which would boost process of specialization in China’s textile industry. (This argument help explain thesis statement
As it seeks to make a name in the universal market, it is becoming more welcoming to the western ideologies. This means; even with all the speedy economic growth, China is still a tricky area to steer. As a nation, China has made many great relationships with multinational corporations (Kumar, 2008, p111). These relationships have ensured success for both China and the multinational firms. For one to successfully initiate a business in China, he or she has to overcome numerous challenges.
China has been a preeminent recipient of foreign direct investment (FDI). Until 2011, there is over $1.2 trillion have been invest in China as foreign direct investment, it made Chinese industries has been transformation, and contributed enormously to the nation’s industrial output. In addition, the more foreign manufactures, the more Chinese subsidiaries have dominated (Wei, Xiao & Yuan, 2014). When a multinational company announces as new project in a poor county, it is usually a Sause for celebration. Especially when this project would not hurt the environment
This need for the CCP to control China’s political system in turn has led to over-investment through the central government’s investment-driven growth, which would not occur had they not tampered with the natural dynamics of the market system. Thus, China’s political may be economically beneficial in the short run, but may not be in the long run. Further research can be done on the possible ways for China to smoothly transition into a market-oriented system.