China's Global Economy Case Study
Over the last three decades, China has experienced extraordinary economic growth and development and has been successfully integrated into the global economy. Now ranking as the second largest economy in the world, China’s success has been greatly attributed to the gradual shift towards market systems. Though the overall economic system of China has been significantly revolutionized, the political regime has remained inherently authoritarian and the government essentially monitors the capitalistic practices that occur in many sectors within the country. Nevertheless, this powerful augmentation of the Chinese economic system and the fervent expansion of China’s role in the global economy and political stage has presented the United States with various challenges and risks that could potentially threaten the economic and political powers the United States retains on a global scale.
At this time, the economic affiliation between the United States and China is indispensably beneficial to both countries as their trade relations generate hundreds of billions of dollars in profits between the two every year. However, the political system of the United States suspects China of engaging in unethical labor methods that violate the civil liberties of Chinese workers and corrupt trading practices, such as unfair trade and
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Despite being the largest exporter in the world, China engages in relatively small-scale outbound foreign direct investment operations, which has resulted in a considerably imbalanced trade system. In order to correct this imbalance, it is necessary for the global economic framework to be restructured. According to Marchick (2012), the expansion of China’s outbound investment could potentially be acquired largely by the United States, which would benefit both countries’ economies and strengthen the US-China
En1320 Unit 1 Essay
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The Tiananmen Square Protest In China
1128 Words | 5 PagesThe Tiananmen Square rebellion had an immediate effect on China’s foreign relations. “Together with its allies, the United States quickly imposed a series of diplomatic and economic sanctions against China” (The National Bureau of Asian Research). With declined tourism and withdrawing foreign investments, China’s GDP growth rate dropped from 11 to 3%. As a result, China wanted to over come the to international isolation, and to rebuild relationship with foreign countries and regain access to international markets and investments. Over time, China has gradually regained the relationship through communication, compromisation, and restored affairs.
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Richard Nixon's Trip To China
224 Words | 1 PagesINTRODUCTION The history-rewriting trip launched by the former President Richard Nixon to the People’s Republic of China in 1972 opened a new chapter in the Cold War and Sino-American relationships. Nixon himself referred to the trip at the time as “the week that changed the world”. Four years after his first trip, after having been ousted in 1974 due to the Watergate scandal, Nixon was invited to Beijing by Mao. Ever since then, Nixon has been seeking to rehabilitate his image by adhering to this diplomatic success and facilitating Sino-American conversations during the 1980s and 1990s.
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1404 Words | 6 PagesFirst and foremost, one must acknowledge the plainly visible fact that the Chinese economy has grown exponentially since the process of integration into the global economic system began. China 's comparative advantages, particularly in the labor sector, has transformed it into the second largest recipient of FDI in the world.1 Over the course of the last 20 years, exports have grown approximately 17.1 percent per year.2 This ultimate result of this investment and trade has been an overall growth rate 8 percent per annum,3 which would have been completely unattainable without the country 's engagement in globalization. Foreign investments have
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