However evne though China has succeedd in it’s in economy and consequently assited other econmonies in doing the same China has also hindered other global econmonies in the process. For example, in 2004 China took mexico’s palce of importing factory goods to the US. China’s econmony has not always beren so great as it recently has, former leaders such as Mao Zedong may have pushed the couty toward a brighter econmonic future but actually lead a goverbment that hindered the Chinese econmony. Overall in the past 60 years ,China has experienced many changes, such as their government,political sturcutre, and leaders. China has changed to communism off and on thorguhout the years but always has had some typeof a dictator.
Economic growth caused the housing bubble, which could bring down the economy. China’s growth also spurned the idea of protecting the environment that has caused pollution and environmental issues. The Chinese economy does not have a great economic future due to political corruption, the housing bubble, the pollution and environmental issues, and the loss of their comparative advantage. The economy of China has been growing for the past three decades but recently it has been stagnating and that could be sign that end of the growth is near. Last year’s growth of 7.7% is “slightly above the market expectation” of 7.6% but that would have been the lowest number since 1999 (Wang 2014).
But still, its GDP per person is low so it is likely to be developed and continues to grow. So China is the main power of global economy. But recently, professionals, as well as the global economy investors are also finally starting to know the fact. Which is China's high-growth era of gorgeous now it is a thing of the past. Thus, precarious situation of the Chinese economy in the world is still having a significant impact.
In addition to this, domestic slow down in construction, decline in real estate sales and investments, soaring prices and low domestic demand caused major trouble in China. The expectation of the market was very low, which led to domestic numbers to decrease faster than expected. Conversely, China saw bigger opportu... ... middle of paper ... ...na’s military modernization efforts more seriously. The idea of nationalism in Asia Pacific could impact the state of the powers in that region and eventually globally. “It doesn’t matter whether the cat is black or yellow as long as it catches mice.” While China has been successful in the last few decades and has essentially made itself an economic super power using whatever means necessary, it is time for them to take a look at the rest of their future.
China served as the logical choice to be considered the superpower for the Eastern Hemisphere for several decades as they have low costs for labor coupled with a high ability for production, giving them the competitive advantage of being able to sell at a lower cost than anyone else. However, the growing demand for service as well as quality, paired with increasing wages may threaten this advantage. The crash of 2008 and the scrutiny of the world due to a past lack of production regulations seems to be diminishing China’s force. In addition, China has not placed the emphasis on technology that India has, and they cannot speak fluently in English as India does. To maintain a lead on India, China would probably need to put more research into
China’s Gross National Product (GNP) grew 7.2% annually from 1978 to 1990, averaging 9.7% per capita from 1982 to 1988 and was among the best in the world . However, “past growth is a poor predictor of future performance” and the considerable volatility in China’s economic growth has prompted the question whether this growth is genuinely sustainable. China’s high savings rate, its advantages as a developing country, as well as its disciplined and literate labour force should prove its critics wrong. However, there are other underlying factors which determine the sustainability of growth such as the type of growth, the state of the environment and the transition of the economy from planned to market. China’s growth may not appear to be as sustainable when these factors are also taken into account.
After years of speculation, China has finally dropped its peg to US dollar. The pegged value of the RMB or Yuan has been adjusted to 8.11 from 8.31. This humble revaluation of 2.5% will for the most part do little to ease the United States’ trade deficit. It does however have significant political and market implications. Most US Senators feel that the revaluation move was too small and that China needs to allow the currency to increase in value, especially since 2.5% pales in comparison to the RMB’s predicted undervaluation of 30-40%.
China, a fast-developing country in the 21st century has a long way to go to catch up with America, a well-developed country. The differences between the two countries are part of the reasons why this happen. In political aspect, they have different systems to function. In historical aspect, China has a different history from the United States. In the economical way, China is making a great progress, but the poverty and unemployment still commonly exist in the country while the US does a better job on eliminating the poverty.
With this powerful advantage that China has, its promising future does not seem that far away. The graph to the left shows the US merchandise trade with China. As you can see, the US exports to China have fallen and its imports from China have increased greatly from 1994 to 2004. With its 4,000 skyscrapers in the financial capital, Shanghai, and the ever rapidly growing economy, China might just do more than “catch up” to the United States. It may seem ironic that the country that has a replica of our “42nd st” would also be in growing competition with our economy and it may also seem like China is the “little brother” of the US, but how long will this go on for?
Although China makes great economic achievements and improvements every year, the economic achievements is not that glorious when divided by the large denominator of population. B... ... middle of paper ... ... rate is 8.77‰( SFPCC) in China, it brings a population increase of 19,090,000(SFPCC statics), which equals a medium-sized country in Europe. As a result, overpopulation may not be that serious in some other countries, it does be the most serous social problem in China. In order to solve the overpopulation issue, the government should pay great attention to it. Some policies, such as “ One China policy”, have already been made in China.