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Lack of a continuous economic growth in China poses a big threat worldwide as many observers point out. A Chinese specialist Susan Shirk asserts that China’s internal fragility status presents a big danger more than the economy and the strength of its military.
China exists as a sovereign country located in East Asia. A recent report compiled by World Bank (2014) shows a rapid increase in China’s population. The survey shows that the population is currently at 1,369,811,000. The Chinese government recognizes 56 ethnic groups (CIA, 2010). A survey conducted by Central Intelligence Agency US (2010) shows that the Han Chinese is the largest ethnic group in china occupying 91.6 percent of the total population. The second largest ethnic group is Zhuang occupying 1.3 percent. Other ethnicity groups that occupy the rest 1.7% include the Hui, Miiao, Yi, Tujia, Tibetan, Manchu, Mongol, Buyei, Bai, Kazakh, Yao and other small ethnic groups.
China has been experiencing increased growth in economy in the past two decades. In the year 2012, China overtook Japan which was the world second largest economy making it the state with the second largest economy globally. However, after several research conducted by World Bank in 2013 China’s annual per capita GDP is at 7.7%. Such per capita indicates that the country remains as a developing country. China’s share in the world trade has increased rapidly in the recent years but the growth is moderately low compared to that of the US. According to a report by IMF (2009), the GDP in China at the current exchange rate is a fifth of that of the US and that of private consumption is an eighth of that of the US. Additionally, China accounts for only 3% of global imports of consumer goods and 4% of world import growth. This makes US the ‘global consumer’ in the short run (International Monetary Fund, 2009).
The rise of China’s economy is the factor that has been raising its foreign
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According to the paper, China previously used conservative practices in trade spheres by raising level of tariff rates and granting subsidies to the domestic enterprises. From the 1990s the government started to develop the potential of foreign trade activities. Ascension to the WTO helped the Chinese companies to increase its volume of exports.
I would also like to thank all my professors who have shown such interest in my education and for helping me when I needed it most. Table of Contents Abstract…………………………………………….…………..……………………. Chapter1: Introduction/Rationale ………………….…..…….…………………… 1.1 Background of the Study…………………….………….…..………..
Week 3 - Essay - INTL 5645 Name: Institution: China is arguably one of the few existing single party states globally and has been under the influence of the party since independence. The Chinese Communist Party is China’s ruling party, one that has fostered a number of development projects and is responsible for placing China in the global map an economic hub of the Eastern bloc.
The system in which the Chinese markets work has made it the fastest growing economies of the world. The international trade of the country is also quite pronounced and it has made the country one of the dominant players in the world market. This paper makes the attempt to analyze how far the socialist structure of economy has been implemented in China and how it has contributed to the GDP growth and the economic welfare of the country.
This followed events of them admitting that they had actually duped the investors on the true status of their oil reserves. In January 2012, they overstated to having over 6billion barrels of gas and oil at their reserves. This hurt the investor confidence making the company to go back again to the drawing board in order to attract more investors.
As said by Hudson (2005), in order to succeed in China, a country that has strong economic power, foreign investors has to respect Chinese culture that has been developed in 5000 years ago. This is whereby Chinese culture is no more an odd knowledge around the world.
All the same, experiences of both the industrialized and developing countries highlight that regional approach can complement the multilateral process, and partner countries can benefit immensely through such regional arrangements. The mushrooming of various bilateral trade agreements between countries are a clear indication of the tremendous trade advantages in any regional process.
The companies in United Kingdom are also increasingly taking decisions to invest considerable funds in the Chinese market so as to avail the prevailing business opportunities.
There tend to be several opportunities for multinational corporations in the Chinese market with regard to low cost production and boosting economy etc.
to the political framework of China during the governance of the country by Mao – made clearer after the delegation of the country’s governance to Deng Xiaoping; Deng become the leader of China’s Communist Party at the age of 71 – his age has been an issue highlighted
China, also known as the Middle Kingdom, apparently has all the necessary requisites of becoming a superpower; a gigantic industrial base, a nuclear-armed military, geographically humungous territory, a burgeoning middle class, a permanent seat on the United Nations Security Council and of course, home to 20 percent of the global population.
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