American Public University
Dr. Corinne Patrick
Fifty years ago, China appeared to be a country that faced a long era of disorder and decline (Mote 1986, 107). However, since year 1980, China economy has been growing constantly which create China as one of the most powerful country in the world (Lardy 2003). With the population of 1.33 billion under the type of communist government, China has grown rapidly and reached 11.4% of GDP (CIA 2008). China is a large country with enormous potential in becoming rationalized. China’s fast growth has lead the country to become a stronger economic power which would affect the rest of the world. The United States has to grow even faster than China.
This report will discuss about the inferences of China for the globe as the rise in economic power in terms of few factors. It will also talk about how the United States can respond to the economic challenges of China.
The unmistakable upcoming of China’s economy, has an impacted people all over the world. The government has been encouraging small businesses to expand and decrease the taxes on the lower class, which allowed the middle class to develop (Associated Press 2007). As China is doing everything that they can possibly in the economic field, we as American’s have to equal or better the Chinese accomplishments.
With the rapid growth in China’s economy, in the past decade, there are more than twenty-five million new companies which involve big, small, local and international companies in China (Blume 2002). For example, Amway Corporation from United State which stepped into China in year 1995 has earned big profits by relocating all of its production lines to China (Amway in China n.d.). As stated by Story (2004), China’s speedily growth has to be the reason of coming out of the foreign policy which will likely to global implications. The foreign policy will not instability in the... [continues]
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