...Analysis of Emerging China’s Economy and its Influence on World Economy Zhijun Sheng (Corresponding author) School of Economics and Management, Changchun University of Science and Technology Changchun 130022, China Tel: +86-135-0445-7191 Email: shengzhijun412@126.com Jing Ma School of Economics and Management, Changchun University of Science and Technology Changchun 130022, China Email: majingdoll@hotmail.com Received: July 22, 2011 Accepted: August 21, 2011 doi:10.5430/rwe.v2n2p21 Abstract Since entering 21st century, the Chinese economy has obtained unprecedented development opportunity, growing rapidly. We emphatically analyze the remarkable performance and the immense changes of the Chinese economy in economic output, foreign trade, foreign investment and enterprise strength, etc. Finally, we point out the reality and potential influence and contribution of emerging China on world economy. Keywords: China’s Economy, Emerging Market, World Economy At the end of 2010, China’s Social Science Institute issued “World economy Yellow Paper” and “International Situation Yellow Paper”, which pointed out China has become the second biggest economy in the world, and has been in the leading position on many aspect. For instance, China ranks second on multinational merger and acquisition and surpasses UK, France and Germany to become the International Monetary Fund's third major stockholder. All the above show since 21st century, China’s economy has enjoyed...
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...contributes to insightful endeavors to comprehend what Segal implied when he distributed an article in Foreign Affairs in 1999 under the headline “Does China matter”? This question has set off a great deal of dialogs. Obviously China matters for some people from time to time, especially the Chinese themselves, and politicians who settle on choices that have implications or suggestions for foreign policy. Segal had a great extent bound himself to the political and key ramifications of a rising China. China is the oldest continuous civilization in the world. When in the second half century, China was a weak state, rocked by revolts and huge natural disasters & humiliated by foreign invasions. Even during the great leap forward it...
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...HOW PEACEFUL IS CHINA’S PEACEFUL RISE? 16 July 2014 at 17:01 HOW PEACEFUL IS CHINA’S PEACEFUL RISE? The People’s Republic of China has been taking great pains to point out to its neighbours specifically, and the world in general, that they have nothing to fear of its increasing power. This approach is epitomised by China’s emphasis on the term ‘peaceful rise’ to describe its expanding influence since 2004. Not only is ‘peaceful rise’ used to allay concerns that China will use its power to further its goals at the expense of other nations, it is also used to directly contrast the PRC with the United States who have been embroiled in the same period in the controversial War on Terror. Given the prominence of the claim of the claim it is clearly in the interests of understanding international and regional developments that we pose the question “How peaceful is China’s peaceful rise?” As this essay will show, in light of the PRC’s domestic aims and because of China’s historical and cultural experiences, any attempt to answer question is contradictory, and depends on the region. The question of China’s contradictory peaceful rise is explained most completely by the theory of neoclassical realism. Neoclassical realism argues that it is the aim of states to gain power to pursue what they deem is in their national interests. It breaks down the state’s efforts in that respect into two spheres, the internal and the external. The external sphere is similar to other theories of...
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...For the first half of the 20th century, China faced political chaos. Following a revolution in 1911, which overthrew the Manchu dynasty, the new Republic failed to take hold and China continue to be exploited by foreign powers, lacking any strong central government. The Chinese Civil War was an attempt by two ideologically opposed forces – the nationalists and the communists – to see who would ultimately be able to restore order and regain central control over China. The struggle between these two forces, which officially started in 1927, was interrupted by the outbreak of the Sino-Japanese war in 1937, but started again in 1946 once the war with Japan was over. the results of this war were to have a major effect not just on China itself, but on the international stage. Long-term causes of the Chinese Civil War[edit] Socio-economic factors[edit] Summary of Socio-economic factors In 1900, China was ruled by the imperial Manchu dynasty. The vast majority of the population were peasants. Their life was hard, working the land, and most were extremely poor. It was the peasants who paid the taxes that in turn paid for the great Manchu imperial court.It was also the peasants who faced starvation during floods or droughts, as their subsistence farming techniques often left them with barely enough to feed their families. The population in China grew by 8 per cent in the second half of the 19th century, but the land cultivated only increased by 1 per cent. This imbalance made famines...
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...comprised of mainly low lands; China is much more heavily industrialised towards the north-east (Hutton, 2007), whereas, the West hosts more mountains. Most countries are historically known for using their boarders and coast lines as defensive mechanisms, conversely though, China is known for tactfully moving in-land and using its terrain for defence; which form up to two thirds of China’s land (Gaddis, 2005). Will Hutton argues that China has “burst back on to the world scene in a manner parcelled in scale and speed in world history only by the rise of the United States.” It first endured a “century of humiliation” (Lecture). Opium Wars dominated China in the 1840s until 1860, after which the Taiping Rebellion – a civil war, revolting against the Quing Dynasty took place, closely followed by the Boxer Uprising – a rebellion provoked by imperialist expansion (Gaddis, 2005). Looking at this, we can see that China has been closely linked to war throughout the last century. More recently, it had a major role, following the former Communist Soviet Union in the Cold war, where China endured crises by both foreign and internal, such as Mao Zeodong’s attempts to bring China forward in the world, and the Tiananmen Square massacre. Throughout the Cold War, “China conveyed the appearance,...
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...and its imports-exports. United States Trade Deficit Trade deficit occurs when there is a negative balance of trade. This has occurred in the United States recently, with a deficit 28 times larger than in the Reagan administration. Consequently, the United States imports exceed its imports, where there is a depletion of the United States currency to foreign market, without having a balanced input and output. According to the United States Census Bureau, in March of 2012, the United State’s exports totaled $9.8 billion while its exports totaled $31.5 billion. In 2011, the total amount of exports was $103.9 billion while its imports were $399.3 billion, resulting in a negative balance of $295.5 billion (“United States Census”, 2012). Even though the United States had a surplus in the area of services in 2011, the United States trade deficit pertaining to the trade of goods has been continuously increasing, creating an exacerbated program in the United States and the world economy. Specifically in China, its main source of imports to the United States is from non-oil manufactured goods. One of the issues at stake is China’s illegal currency manipulation, which needs to be addressed in order to thwart these consequences (Scott, 2012). Consequences of Trade Deficit It is essential to analyze the impact of the trade deficit in order to...
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...fulfill the criteria of regional power status in Asia Pacific. Today China is one of the largest economies in the world in GDP, and has the largest reserves of foreign exchange. In terms of manpower, China has the biggest military in the world. Chinese defense expenditure is the highest in the region and the second highest in the world. China possesses nuclear weapons, ballistic missiles and missile submarines. A regional power must: 1. belong to a geographically defined region; 2. articulate the pretension of a leading position in this region; 3. have great influence in regional affairs and dominate this region in economic and military terms; 4. play the role of regional peacemaker; 5. be integrated in interregional and global forums and institutions; 6. be recognized or accepted as the regional leader by its neighbors. First of all The Asia-Pacific region includes East Asia, Southeast Asia and Australasia near the Pacific Ocean. China belongs to geographic region of East Asia. Taiwan, Hong Kong, Japan, North Korea, South Korea, and Mongolia also refer to geographic East Asia. Secondly, China pretends to be a regional power. The Asian economic crisis that occurred in 1997 can prove this fact. China wanted to assume itself as a state leader in solving that crisis. This leadership role became an important step towards China’s recognition as a regional leader. Thirdly, China has affected the states in Asia territory with its religious and alphabet. China plays a larger role in regional...
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...about Chinese foreign policy in the upcoming years, its development and clarification of the position of the People’s Republic of China in the international relations with a focus on China’s peaceful rise. The essay covers China’s relations to the selected countries, for example the most important neighbouring countries, but nevertheless the U.S., European Union and Middle East also. It focuses also on environmental sustainability, possible economic influence in the foreign countries, controversial issues over disputed areas and possible democratization of the political system. Analytically it discusses the factors involved in shaping as the China’s foreign policy, as well as domestic policy. It deals with human rights violation and discrimination. In focus to the security issues it gives an overview of China’s military capacities and abilities, which may be considered as a threat to its peaceful rise. As a conclusion it gives an analysis of factors that contribute in China’s effort to become a regional power, in means of emerging power that is able to compete with the traditional western type powers. Theoretical basis The impressive economic growth of People’s Republic of China over the past few decades raises a profound question about China’s peaceful rise in the international relations. It is a beautiful example of a country which is to become a regional and eventually global power in our lifetime. China is predicted to become a player with global influence, just as United...
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...Introduction Foreign exchange is essentially about exchanging one currency for another. The foreign exchange market is global, and it is conducted through the internet, over-the-counter (OTC) through the use of electronic trading platforms, or by telephone through trading desks. Some shorten the term to “forex” or “FX”. The OTC market is also known as the “spot”, “cash”, or “off-exchange” forex market. (A spot transaction refers to an exchange of currencies at the prevailing market rate.). The spot/cash/OTC/off-exchange forex market is not a market in the traditional sense, because there is no central trading location, or exchange. Rather, it is an interconnected and electronic network of bank traders, dealers, brokers and fund managers for electronic transfers of money from one account into another account. The interbank market is one in which huge banks, insurance companies, corporations and other financial institutions manage the risks associated with fluctuations in currency rates by trading in large quantities. The secondary market, that is, the OTC market has developed more recently permitting retail (Smaller)investors to participate in forex markets. The OTC market has many of the same characteristics of the interbank market but it doesn’t provide the same prices, as the size of trades, and the volumes, are much smaller. Trading forex is buying one currency while at the same time selling a different currency. Some companies who do business in other countries...
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...in this region. Europe’s economic growth occurred slowly over many centuries, whilst North America’s took place perhaps more quickly; but nowhere near as spectacularly as East Asia which, as all the previously listed continents are democratic, can be seen anomalous. The People’s Republic of China has had a century peppered with civil wars and unrest since the end of the Qing Dynasty in 1911. Throughout this tumultuous period, the Chinese people have been led by various governing bodies. Although traditional communism restricts free trade, the current Chinese government is operating under a free trade policy and, as seen by David Ricardo’s theory of comparative advantage, this has increased efficiency in China’s area of specialisation, namely Electrical machinery and equipment , which has benefitted its trading partners such as America and Europe. It is extremely difficult to isolate variables such as social aspects, the government’s policies and the global economic climate therefore no one can definitively say whether the political system of a country has any bearing on its economic state. It is important to remember that through experience, no one can definitively say which political structures are good or bad for economic growth as dictatorships and democracies both experience the recessions and booms of the international economy; it’s how countries react to them which is most important. In many ways China’s performance should silence those who think democracy is good for growth...
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...historic hutong are protected by The People’s Republic of China (PRC) to attract tourists, but most have evolved into quiet and organized walkways, like the one above. This is partly because the acceptance of a market economy transformed roadside markets into convenient supermarkets. No more haggling for prices over the noise of 20 others doing the same, or dodging children when settling your mobile market. Instead, responsible citizens, like the man in the picture to the right, can spend time recycling household waste in an effort to care for their neighborhood (Nuo). This coordinated and desirable lifestyle is made possible by domestic and foreign businesses that enter the market with permission of the government. Wal-Mart (WMT), an American business, abides by national and international law to assist those in China with their own development goals. WMT claims to conduct more annual internal audits than any other company, at 13,600 reviews. When violations are detected WMT does not hesitate to take harsh measures (Sweatshops). WMT seams its corporate policy with international regulations to ensure their workers the rights they bear as participants in a market economy. WMT labor practices in China promote free market-enterprise. In order to understand how WMT promotes free market-enterprise through its labor practices, first I will define the key terms, such as labor practices and free market-enterprise or free enterprise. Then, I will provide the criteria to evaluate the existence...
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...Foreign Policy Research Institute FOOTNOTES Vol. 16, No. 06 The Newsletter of FPRI’s Wachman Center June 2011 THE RISE OF CHINA’S ECONOMY By Thomas G. Rawski Thomas G. Rawski, Professor of Economics and History, joined the University of Pittsburgh's faculty in 1985 after fourteen years at the University of Toronto. His research focuses on the nature and implications of recent developments and long-term changes in the economy of China. He delivered this paper at A History Institute for Teachers, March 19–20, 2011 on “China and India: Ancient Civilizations, Rising Powers, Giant Societies, and Contrasting Models of Development,” held at the University of Pennsylvania. This History Institute was co-sponsored by The Foreign Policy Research Institute’s Wachman Center as well as by three centers at the University of Pennsylvania – Center for East Asian Studies, South Asia Center, and Penn Lauder CIBER (Center for International Business Education and Research). 1 China’s remarkable economic boom, now in its fourth decade, has spawned numerous discussions of “China’s Rise.”2 Beijing’s self-congratulatory slogan “China’s peaceful rise” has advanced this theme. From a historical perspective, however, this terminology seems misplaced. Both the Ming (1368-1644) and Qing (1644-1912) empires occupied key positions in Asian trade and diplomacy. Crude figures compiled by Angus Maddison, author of several sweeping studies of global economic history, show China contributing nearly one-third...
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...style resembling western wines until the 20th century. China claims over 160,000 acres of vineyards nationwide, but many are located in remote areas, such as Xinjiang, where Silk Road traders brought seeds centuries ago. Despite this history, the wine industry in China has only recently begun to develop into a significant market. Twenty years ago Chinese consumers tended to drink beer and grain spirits, but in 1987 the Chinese Government began to focus on reducing alcohol related illnesses and encouraged consumers to drink less grain-based spirits, and more beer and grape wine. In the 1990, wines in China were really bad quality, and small quantity. For 20 years, they have imported European type of grapes and techniques that increase the production and the wine quality. This interest to wine is mainly due to the emergence of a high class in China who has been more and more interested in European luxury goods like wine and other spirits like Cognac which China is already the biggest market. Wines have gradually attained consumer acceptance, not least due to Chinese Premier Li Peng, who in 1996 decreed that state banquets should be enjoyed with wine instead of spirits. The influence of western eating and drinking habits has been key in this development, as have rising average incomes in China. Indeed, wine is now becoming a fashionable drink for the wealthy younger generations of urban Chinese, and the favoured drink of China’s elite. In China, when you have money...
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...How China rises What lessons can be drawn from China's spectacular and sustained economic growth? As Hu Jintau remarked at the 17th Congress of the Chinese Communist Party, the period since the previous Congress five years ago has been extraordinary. China's economic achievements have been arousing not only astonishment and admiration but also some anxiety. In the past twelve months alone, The People's Republic of China (PRC) has overtaken Canada as the biggest source of imports to the USA, and overtaken the USA as the biggest source of imports to the European Union. Concern about the low level of investment in Africa has been displaced by concern about the effects of the high level of Chinese investment in Africa; there is now even anxiety about the effects of investment by Chinese state-owned firms into the Western economies. The Chinese Communist Party is also expressing concerns. The themes of its 2007 Congress included protection of the environment and the achievement of social harmony. According to some estimates, China has displaced the USA as the world's biggest source of greenhouse gases. Inequality is rising as fast as pollution: China now has over 800 individuals with a personal wealth of more than a hundred million US dollars each, up from 500 in 2006; while the average income in rural areas of China is 480 dollars per year. Made in China. Hu Jintau's remark on the extraordinary nature of the most recent years can be faulted in only one sense: China has...
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...conflict in different cultural exchange becomes prominent, especially the difference between Chinese and western sports culture. The difference is largely due to the different historical and cultural background. Each of them has made a sense to the development of its own society and influenced our understanding of sports and main sport activities in the wide world. What's more, because of the impact western sport, Chinese traditional sport has changed a lot compared with last century. THE IMPACT OFWESTERN SPORTS 3 The General With the advent of the globalization era, the conflict in different cultural exchange becomes prominent, especially the difference between Chinese and western sports culture. The difference is largely due to the different historical and cultural background. Each of them has made a sense to the development of its own society and influenced our understanding of sports and main sport activities in the wide world. What's more, because of the impact western sport, Chinese traditional sport has changed a lot compared with last century. Many sports in China are played only during seasonal festivals or in certain regions. China's national sport is ping-pong. Other common sports include shadow boxing ( wushuor taijiquan). Western sports have been gaining popularity in China. These include soccer, basketball, American football, and baseball. They are played mainly in schools,...
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