With this underlying superiority, the impact of China’s influence of economic power can affect international political and societal aspects, as they establish their economic empire in roots all over the world. Presently, around the world people from various countries have become unmoved by the sight of “Made in China” on nearly every product label they purchase. In fact, the label has become such an integral element to society, that we essentially overlook the portent of China’s economic growth on a global scale. In actualization, China is expeditiously evolving into one of the most influential countries in the world, and they have no plan on discontinuing that approach. Remarkably, China has unfolded their superiority within a time frame of 35 years, and China’s cutting-edge economic aggrandizement was initiated by a renown Chinese reformist named Deng Xiaoping.
No matter whether China is going to reach the US’s economy size in 10 years or not, after forty years since the US first opened trade with China in 1972, America’s economy gradually relies on China’s economy and will collapse without the strength of China’s market. In 1972, President Nixon visited China, and declared the open trade between America and China, a country that has been isolated from the West since 1949. Although most people remember President Nixon with his Watergate Scandal, he also opened a new trading era with People’s Republic of China. Nixon was in fact known as an anti-communist, and his presidency was during the Cold War, a political and military tension era between the US and the Soviet Union. In 1949, Chairman Mao Zedong established the People’s Republic of China.
America's Role in the World Trade Organization Debate Over China The open question on Chinese accession, both in the WTO and in China itself, is whether China is more likely to adopt and sustain economic reforms if it is granted early membership or if membership is delayed until policy reforms are undertaken. (Schott 40, 1996) I. Introduction This observation from Jeffery Schott of the Institute for International Economics captures the essence of the China-World Trade Organization debate in America and the world today. China’s unprecedented economic growth has put it at the forefront of the US trade agenda. America’s is the biggest economy and China’s is the most populous nation, in terms of sheer number of people.
It was this change of textile manufacturing power, combined with the huge labor force that China has that allowed dramatic growth of economy in China, as a starting point (Hayat). Industrialization, as discussed in Horan’s lecture, was a stepping stone in Japan and China’s major development as an economic prowess that breaks the international barriers in trade that they once had, which also provided some strong backbone supports to their developments. Next, the second key aspect in why China has grown so large is th... ... middle of paper ... ...ina falls down someday, it would only mean a temporary break from the industry, as we have already seen how successful China has become now on its own. References. "Economic Suicide Biggest Threat to China - OP-ED - Globaltimes.cn."Globaltimes.
International Journal of China Marketing 2.1 (2011): 45-57. ProQuest. Web. 8 Dec. 2013. Scott, Robert E. “The China Toll.” Economic Policy Institute.
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. The massive increase in the Chinese trading relations was fueled by the United States in the year 1979 through the normal trade relations between the two countries. In addition, the Chinese non-concession to the World Trade Organization (WTO) in the year 2001 also facilitated its trading activities with different countries including the United States (Kaplan, 57). However, trading relations with the Chinese have been uneasy resulting from the massive trade imbalances in the recent past, which grows exponentially.
2012. Web. 10 Nov. 2013. United Sates Sensus Bureau (USSB). “Trade in Goods with China.” Foreign Trade.
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?
Foreign direct investment has played a vital role in the transformation of the Chinese economy in China, with value contracted increasing from US$ 52.1 billion (1998) to US$ 115.1 billion (2003). In geogra... ... middle of paper ... ...itten the full word Foreign direct investment and then in the brackets he has put the abbreviation (FDI). The article also give snap shot of the foreign companies who misjudge the Chinese culture, competition, size the market, and some other factors, have been badly affected by investing in china. The writer has given a name of the reference book in the article " The china dream" by Joe Studwell. He has also given an example of Dupont an American investor company in china to make the article easy to understand.
Shortly after Mao Zedong’s death in 1976, the People Republic of China embarked on a gradual process of economic reform and liberalization. Under the initial leadership of Deng Xiaoping, China quickly began to receive foreign direct investment (FDI) from around the world. Initially Taiwan, Hong Kong, and ethnically Chinese overseas regions of Asia, such as Singapore and Malaysia, were the largest contributors of FDI to Mainland China. Despite these regions’ large contribution to investment in China, there is a common misconception that most of the investment in China has come from the “western” countries, such as the United States and members of the European Union (EU). This misconception is understandable because FDI from the US, European Union, and Japan accounts for 90% of outward FDI stocks and flows (UNCTAD, 2002).