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America and China Trade elations
Intellectual property is very important as American business continues to expand and develops. Businesses are now attempting to penetrate foreign markets which are unique in their laws, customers and beliefs. International trade is no different in this regard as business attempts to capitalize on a burgeoning middle class in China. As such, it is important for business to protect the intellectual capital that made their operations thrive and flourish. Too many individuals are now copying or directly replicating American brands in an attempt to garner profits. Brands are in many instances, the most important aspect of an American business. By pilfering or using very similar brands, emerging markets are literally stealing profits that are earned by American business. This is an international trade issue as businesses must now attempt to enforce higher standards of transparency in regards to intellectually capital. Businesses must do so without…
1) Heiberg, Carl Erik. "American films in Kuwait: an analysis of Kuwait intellectual property record and reconsideration of cultural trade exceptions amidst rampant piracy." Minnesota Journal of International Law. 15.1 (Wntr 2006): 219-262. LegalTrac. Gale. Florida International University. 29 Sept. 2010 http://find.galegroup.com/gtx/infomark.do?&contentSet=IAC-Documents&type=retrieve&tabID=T002&prodId=LT&docId=A220642862&source=gale&userGroupName=flstuniv&version=1.0
2) "Intellectual Capital and Business Value - The Hidden Resource." Intellectual Capital and Business Value. Web. 08 Apr. 2012. .
3) Jacobson, Anna-Liisa. "The new Chinese dynasty: how the United States and international intellectual property laws are failing to protect consumers and inventors from counterfeiting." Richmond Journal of Global Law and Business. 7.1 (Wntr 2008): 45-63. LegalTrac. Gale. Florida International University. 29 Sept. 2010 http://find.galegroup.com/gtx/infomark.do?&contentSet=IAC-Documents&type=retrieve&tabID=T002&prodId=LT&docId=A177087358&source=gale&userGroupName=flstuniv&version=1.0
4) Cheng, Jacqui. "By the Numbers: Piracy Rate in China down 10%." Ars Technica. 22 May 2009. Web. 16 Oct. 2010. .
China Trade Policy
China's agricultural trade policies are driven by its need to feed its massive population. The country has quotas that average 15.8%, with 5.8% of products being duty free and 1087 total tariff lines. These duties sit in line with EU levels, above U.S. levels and below developing world levels. China aims to reduce its agricultural tariff below 15% in the coming years. China supported India's stance on special safeguard mechanisms at the Doha Round, effectively scuttling the deal.
China's manufacturing tariffs are also above developed world levels but below developing world levels. China's tariffs vary significantly on a country-by-country basis; for example 45.4% of non-agricultural trade with the U.S. is duty free. China has become more aggressive with respect to its trade policies in recent years, but generally works within the confines of the TO dispute resolution mechanism..
China has long worked to lower agricultural…
Ackerman, K. (1998). State trading enterprises in world agricultural trade. USDA. Retrieved November 15, 2010 from http://www.ers.usda.gov/publications/wrs984/wrs984h.pdf
Wang, J. & Lim, C. (2009). China and the Doha Round. North-South Institute. Retrieved November 15, 2010 from http://www.nsi-ins.ca/english/pdf/China.pdf
Hudson, J. (2010). Dispute raises concerns over China's rare-earth dominance. Atlantic Wire. Retrieved November 15, 2010 from http://www.theatlanticwire.com/opinions/view/opinion/Dispute-Raises-Concerns-Over-Chinas-Rare-Earth-Dominance-5151
Lynn, J. (2010). U.S. accuses China of blocking Doha trade talks. Reuters. Retrieved November 15, 2010 from http://in.reuters.com/article/idINIndia-49607220100624
China's Importation Documentation equirements, Procedures, Programs, and Policies: An Overview
Every business endeavor has certain legal and procedural requirements that must be known and followed in order for the endeavor to be both successful and viable in the long-term. Embarking on any business or trade venture without first ascertaining the legal requirements and bureaucratic procedure is setting the venture up for outright and immediate failure at the worst, and an increased risk of inefficiency and heightened costs at the best. This is why obtaining pertinent information prior to actually beginning to conduct business is so important -- it will make for a much smoother establishment of the business and its necessary operations, and will also increase the efficiency and cost effectiveness of these operations. When business is conducted on an international basis, the situation becomes complicated by the multiple sources of often differing laws that can affect operations.…
FIDI. (2009). Inbound air shipments. Accessed 30 August 2011. http://www.grospiron.com/medias/documents/reglementations-douanieres/douane-chine.pdf
Global Trade. (2011). Documentation in China. Accessed 30 August 2011. http://www.globaltrade.net/international-trade-import-exports/f/business/text/China/Trade-Policy-Import-Requirements-and-Documentation-in-China.html
Trading Economics. (2011). Documents to Import (Number) in China. Accessed 30 August 2011. http://www.tradingeconomics.com/china/documents-to-import-number-wb-data.html
Yan, G. & Shen, J. (2008). China; Customs, Taxes, and Documentation Requirements. Accessed 30 August 2011. http://web.ita.doc.gov/ITI/itiHome.nsf/9b2cb14bda00318585256cc40068ca69/3aed69c22069b76185256d07006fe126?OpenDocument
China did not have any debts to pay. However, actually during this era Chinese authority had been so undermined and the prestige of the government with its own people so completely destroyed "that it may well be said to have prepared the ground for the Walpurgis night of imperialism, which was witnessed in the decade following the Sino-Japanese War in 1895."
For example, one major complication that rendered diplomatic relations between China and the Western nations led by Britain extremely difficult was the attitude of the British mercantile community. The chimera of inexhaustible trade had drawn them into the interior. The central highway of China, the Yangtze, had now been opened. "Settlements" and trading establishments existed in every important city. Yet for some reason the results were bitterly disappointing. The fabulous China trade did not materialize.
The mercantile community blamed their failure on the opposition of the Chinese officials. Their…
Michael, Franz. Taiping Rebellion. Seattle: Washington Press, 1971.
Pannikkar, K.M. Asia and Western Dominance: A Survey of the Vasco Da Gama Epoch of Asian History, 1498-19 London: George Allen & Unwin, 1953.
Reilly, Thomas. Taiping Heavenly Kingdom. Seattle: Washington Press, 2004
Shih, Vincent. Taiping Ideology. Seattle: Washington Press. 1967.
This is troubling, because these two different viewpoints increase the odds that some kind of: currency or trade war will take place in the future.
The Motivations behind hina's urrency Policy
The original reasons why hina had their currency pegged against the dollar is: that it provided stability and it allowed the country to sell low cost imports in markets where there was a large amount of consumers (i.e. The United States). Over the course of time, this helped hina to be able to adapt to the changes that are taking place in the world economy. as, they quickly became one of the largest importers for: a variety of manufactured goods. However, as time went by it became clear that the country was keeping their currency artificially low. This was a part of an effort to help the nation to: build up their currency reserves (through large trade surpluses)…
China's Growth in the World Market
The Chinese government implemented a major economic reform program in 1978, after reducing state control of all production assets. Government officials urged the formation of: rural enterprises / private businesses, liberalized foreign investment / trade, allocated various resources from government to private entities (i.e. privatization) and they invested in education / training for workers. Many of these supply-side factors pushed the country to meet the demands of a dynamic economy. as, the government's strategy; worked much better than they had expected.
Before 1978, the Chinese economy had seen an annual growth of 6%. However, post-1978, China began to experience average real growth of more than 9%. This was a steady line of growth, as opposed to
S. with the land from which these manufacturing warehouses and factories were to be built. Inevitably, with the establishment of manufacturing companies in China, it had slowly developed and became known as one of the primary producers of technological products and merchandise -- that is, mass production of technological merchandise. China was pitted against its other Asian neighbors, especially Korea, when it comes to manufacturing (since Japan was known as the cradle of technological invention and innovation and not so much for manufacturing technological products and materials.
The third phase involves the integration of China into the world market. With the U.S. As its primary investor, China became a member of the World Trade Organization (WTO) at the onset of the 21st century. The country continued its role as provider of foodstuffs to America, especially agricultural products such as edible meat, vegetables, oil seeds, sugar, cocoa, nuts, and tobacco substitutes…
China in the WTO: An interview with Amb. Charlene Barshefsky." (March 2000). Asia Source Web site. Available at http://www.asiasource.org/news/at_mp_02.cfm?newsid=13811.
McMillion, C. (March 2000). "The U.S., China, and WTO: More false promises, debt, and unnecessary instability." Washington, DC: MBG Information Services.
Shambaugh, D. (April 2001). "No easy way forward with China." The New York Times Online. Available at http://www.nytimes.com/2001/04/03/opinion/03SHAM.html .
Worden, R., a. Savada, and R. Dolan. (July 1987). "China: a country study." Library of Congress, Federal Research Division.
S., which has the potential to widen the already gaping trade gap between the two super economies. The U.S. is really in no position economically to begin to demand that China shape up its currency valuation policies and trade agreements toward the west. Crook's argument for action is compelling, and leaves the reader to wonder why the current U.S. presidential administration has really done nothing to remedy the ever-growing problem of U.S. And Chinese trade disagreements.
As far as direct actions that the U.S. could take to fight back against the Chinese trade deficit, it would be quite easy and politically savvy for the Obama administration to begin taxing or discouraging outsourcing of U.S. production jobs to China, and begin to implement tariffs on Chinese goods. This would help reduce the incentives that U.S. companies have to move their labor elsewhere while at the same time raising the bar on…
Crook, Clive. (2010). "Time to get tough with China." Financial Times. Published 10
Oct, 2010. Available online at: http://www.ft.com/cms/s/0/2b931da6-d49a-11df-b230-00144feabdc0.html .
Investment and Trade Over the Next 30 Years
Perhaps the most notable trend in recent economic history has been the falling-away of the influence of the G7 nations of United States, Japan, Germany, ritain, France, Canada and Italy and the explosion of economic clout in the developing world (What is the G7, 2012, Wise Geek). All eyes are looking to China, in terms of the trending of trade and investment patterns. China is the world's largest potential market, and still has untapped growth in terms of its vast consumer marketplace. That is why the Chinese economy is often seen as a barometer of the health of global demand. For example, in the last quarter, "trade was a net drag on growth last year as the world's second biggest economy turned in its slowest rate of expansion since 2009, at 9.2 per cent, with each quarter's growth in 2011 successively weaker…
Edwards, Nick. 2012. China surprises with March trade surplus. The Globe and Daily Mail.
Viewed 24 Apr 2012 at http://www.theglobeandmail.com/report-on-business/international-news/china-surprises-with-march-trade-surplus/article2396805/
Greenblatt, Alan.2011. As Europe ages, its economies look vulnerable. NPR. Viewed 24 Apr
2012 at http://www.npr.org/2011/09/24/140736119/as-europe-ages-its-economies-look-vulnerable
China's Economic Challenge to the U.S.
The rise of China as an economic superpower has occurred against the backdrop of increased globalization and the explosive growth of the developing world and the other BRICS nations (Brazil, Russia, India, and S. Africa). China's growing prominence in the global financial community manifested itself in 2010 as "Japan ceded its spot as the world's second biggest economy to China. Japan's nominal GDP for 2010 was 479.223 trillion yen, or $5.474 trillion; falling below the $5.879 trillion figure for China in the same year" (Monahan 2011, 1). China and Japan with their respective five trillion economies are still dwarfed by the American economy which boasts a nearly 15 trillion dollar GDP (CIA FactBook N.D.,1 ); however China will continue its growth ascendance, and in terms of GDP all but guarantee that China will surpass the U.S. In the next 30 years, and probably far…
What precisely are China's activities on trade, currency, energy, and environment which portent economic uncertainty? The trade and currency issues are the most critical pieces of the China / U.S. engagement and are obverses of the same coin. Despite China running its first trade deficit in seven years "$1.02 billion in the first three months of the year compared with a surplus of $13.9 billion a year earlier" (Bloomberg 2011, 1) the stark reality is that they are the world's largest exporter of goods (Thompson 2010, 1), and China's trade surplus particularly with the U.S. has been growing for years. In 2010 "the gap between U.S. imports from China and what it sold to the country rose to $273.1 billion" (Wearden 2011, 1). This trade surplus with the U.S. And China's large current account surplus is in the opinion of many global policy makers due to the undervalued Yuan.
The Chinese strategy of undervaluing the Yuan in relation to the dollar to boost exports has certainly paid dividends as evidenced from the above data however; this is not the entire story because "since July 2005, when China decided to break away from fixed exchange rate with the dollar, the Yuan has been appreciated by 26%" (Asia News.it 2011, 1). So while according to U.S. officials "the Yuan is artificially undervalued by at least 30%, to the benefit of Chinese exports" (Asia News.it 2011, 1) the evidence of Yuan appreciation is indicative that the U.S. consumer's insatiable appetite for low cost imports is also a prominent reason for the trade deficit. China's point on the value of their currency is that it is "an issue of national sovereignty" (Bergsten 2008, 3) requiring no global IMF agreement to float the Yuan's value.
Bergsten in the discussion of trade and currencies points to China's recalcitrant attitude toward accepting Doha trade agreements designed to liberalize international trade and lower tariffs; "declaring that it should have no liberalization obligations whatsoever" (Bergsten 2008, 2 ) because of their status as a developing country. Even now the Doha talks, some ten years in process, are in danger of falling apart "amid a rift between developed and developing nations on tariff cuts on industrial goods and farm subsidies" (Times Live, 2011, 1). China's policy instead has been to forge regional trade alliances such as the Association of Southeast Asian Nations, and the eventual creation of an Asian trading block (Bergsten 2008, 2). Invariably, the creation of a global free trade compact as envisioned by the Doha would benefit the Chinese economy, as additional markets are opened for exports and the Chinese consumer benefits from cheaper import flows. That
In this probably lies the greatest risk of doing business in China as it is difficult to collect full payment in time. The greatest threat to companies with successful products or brand name is from intellectual property pirates. Any organization planning to do business in China is well advised to take adequate safeguards to protect their intellectual property rights. (Look Before You Leap: Essential Advice for Doing Business in China)
The business environment in China is very attractive and there are many organizations that have already made use of the opportunities offered there and many others are queing up to enter the business market of China. It is very important for these organizations to understand the cultural and business practices that are prevalent in China to avoid any kind of misunderstanding due to the major differences in the underluing cultural practices between the Chinese and Western cultures. These…
Background Note: China. U.S. Department of State. Bureau of East Asian and Pacific Affairs.
October 2004. Retrieved at http://www.state.gov/r/pa/ei/bgn/18902.htm . Accessed on Business Dress: Guidelines for business dress. Executive Planet. May 25, 2003.
Retrieved at http://executiveplanet.com/business-culture-in/132272102392.html Accessed on February 11, 2005
China. The World Fact Book. Retrieved at http://www.cia.gov/cia/publications/factbook/geos/ch.html . Accessed on February 11, 2005
While at the same time, it will make imports in Hong Kong / China cheaper in relation to goods that are manufactured in both locations. Over the course of time, this will cause the trade surplus that Hong Kong / China enjoys decreasing as both markets begin to buy the cheaper foreign imports. ("The Impact of China's Revaluation of the Yuan," 2005)
Yet, both Hong Kong and China are facing a similar situation as Japan, due to the fact that they rely heavily on foreign trade. Where, many of the different markets are somewhat open to exports, with restrictions. This is similar to a policy that Japan engaged in during the 1970's and 1980's, where once the peg was removed off of the U.S. dollar, the yen appreciated in value. Under normal circumstances, this should have solved Japan's trade surplus problems. However, because their markets were still restrictive to foreign…
The Impact of China's Revaluation of the Yuan. (2005, July 24). Retrieved March 23, 2010 from Forecast Global Economy website: http://www.forcastglobaleconomy.com/subscribers/CommentsFiles/Comment022.htm
Fung, K (2007). China's Renminbi: Our Currency Your Problem.
Of course, consumers knowing the country of origin of Toyota vehicles have done little to harm the dominance of that car over traditional American manufacturers like GM and Ford. But in some instances, if a particular nation has received bad press regarding its labor practices, mandatory labeling as an imported good might act as an additional invisible trade barrier. Also, if a nation is being subject to a particularly damaging round of international publicity regarding other aspects of its international policy, this may lead to a boycott of the nation's goods, and thus invisible tariffs can be constructed through simply the apparently innocuous policy of labeling nation's country of origin, in the supposed interest of consumer information.
Fliess, Barbara Carlos Busquets "The Role of Trade Barriers." OECD Trade Policy
orking Paper No. 45. Organization for Economic Co-operation and Development. 2006. 7 Mar 2007. http://www.oecd.org/dataoecd/34/25/37872326.pdf
Jennings, Horace. "Brazilian trade…
Fliess, Barbara Carlos Busquets "The Role of Trade Barriers." OECD Trade Policy
Working Paper No. 45. Organization for Economic Co-operation and Development. 2006. 7 Mar 2007. http://www.oecd.org/dataoecd/34/25/37872326.pdf
Jennings, Horace. "Brazilian trade sets new highs as import barriers are lowered."
l billion in 2007. This growth can be seen to represent the increasing interest of Chinese firms in acquiring resources, technology and brands outside of their own country (Carpenter & yman, 2009).
Lenovo was able to seal the deal essentially by acting like a estern firm. It did not approach the deal from the same perspective as say, the way that CNOOC did with its unsolicited bid and ultimately failed bid for Chevron. Lenovo had a strategic alliance with IBM prior to the deal, so that the latter's management and shareholders understood the strategic value of the deal. For Lenovo, it was able to maintain relationships with IBM, including taking some of its talent back to China with it.
Lenovo traded on the Hong Kong exchange, giving it the transparency needed by estern investors. Moreover, this also lent liquidity to Lenovo shares, allowing them to be used in the deal.…
Wong, J. & Chan, S. (2003). China's outward direct investment: Expanding worldwide. China: An International Journal. Vol. 1, 2, 273-301.
Schuller, M. & Turner, A. (2005). Global ambitions: Chinese companies spread their wings. Im Fokus. Retrieved November 23, 2009 from http://www.giga-hamburg.de/ifa/kostenlos/ca/0504/Fokus-Schueller.pdf
Hamm, S. (2005). Lenovo and IBM: East meets west, big time. Business Week. Retrieved November 23, 2009 from http://www.businessweek.com/magazine/content/05_19/b3932113_mz063.htm
Fuhrman, P. (2009). Private equity and strategic M&A transactions in China. China First Capital. Retrieved November 23, 2009 from http://www.chinafirstcapital.com/blog/archives/202
The Dilemma of a Ethical Practices and Profitability of Trading with China
China continues to have one of the world's strongest and most resilient economies, achieving a 10.3% Gross Domestic Product (GDP) growth rate in 2010 compared to the world average of 4.2% and the United States' 2.9%. U.S. Lawmakers continue to question the $4M in foreign aid that Congressional budgets are requesting for one of the fastest growing economies globally today (Pennington, 2011). Despite the rationalization that this significant amount of investment is necessary for clean energy primary research, the rationalization is weak when compared to the many economic challenges and hardships the U.S. continues to face (Pennington, 2011). As of October, 2011 the cumulative 2011 trade deficit with China is today at $217B, down from a high of $270B earlier in the year. Arguably China could more afford to provide foreign aid to the U.S., not vice…
Ho, C., & Redfern, K.. (2010). Consideration of the Role of Guanxi in the Ethical Judgments of Chinese Managers. Journal of Business Ethics, 96(2), 207-221.
M Islam, & M. Gowing. (2003). Some empirical evidence of Chinese accounting system and business management practices from an ethical perspective. Journal of Business Ethics, 42(4), 353-378.
Lawrence, W., & Sun, W.. (2010). A Cluster Approach towards Enhancing Chinese- American Trade Opportunities. International Journal of Business and Management, 5(2), 44-51.
Pennington, M. (2011, November 15). Lawmakers scrutinize u.s. foreign aid to china. Washington Times. Retrieved from http://www.washingtontimes.com/news/2011/nov/15/lawmakers-scrutinize-us-foreign-aid-china/
(Hill, 2008, pg. 371)
Under what circumstances might a decision to let the yuan float freely destabilize the Chinese economy? What might the global implications of this be?
If the there is outside pressure from Western governments and Chinese trading partners. Where, they will begin to impose tariffs and duties in an effort to force the Chinese to change their policy. This would destabilize the Chinese economy, resulting in a collapse of their export markets. The global implications would be that this kind of action would result in China retaliating with tariffs and duties of their own, resulting in a worldwide depression. (Hill, 2008, pg. 371)
Do you think the U.S. government should push the Chinese to let the yuan float freely? Why?
Yes. The reason why, is because the inability of China to let the yuan float freely, is creating imbalances in the global economy. If this is allowed…
Hill, C. (2008). China's Managed Float. Global Business Today. (pg. 371). New York, NY: McGraw Hill.
China's growth rate has slowed dramatically in the last 30 years under the auspice of the One-Child Policy. In fact, at this point it is believed that growth rate is under 2% and that the population replacement rate is at 2.1%, meaning that if these numbers are accurate and hold up, the population of China could actually decrease at some point in the future.
Hence, the One-Child Policy could be seen to be an immense success. But at what cost?
The 'side effects' of the Policy have and likely will continue to have a staggering effect on Chinese society. The sterility and abortion atrocities by the government, like the abandonment and infanticide of female infants by the parents, not only scream of a Policy that has lost its moral compass, but it has created a huge disparity between the number of males to females. This disparity means there a…
BBC NEWS. Chinese Facing Shortage of Wives. 12 January 2007
Fitzpatrick, Laura. A Brief History of China's One-Child Policy.
www.time.com. 27 July 2009
China is predicted to become a global power and in the coming polarization of the world there would be triple set of polarization, of the U.S. And the west, China and India being the three big countries that would matter in the world. (Virmani, 208) Japan finds no place in the scale of the magnitude of the countries operations. The projection of China's GDP is a good indicator of what would come. The projections show that while the GDP was 7.1 as per Goldman Sachs for 2006-2010 the future prediction by the same agency for 2029-30 was 41. That is a great leap that was predicted. (Finn, 42)
However after globalization the Yuan was being paired in Forex. In January 2009 the treasury secretary of U.S., Tim Geithner, made a statement that China has been manipulating its currency, the Yuan -- and this according to him and other…
Alexander, Arthur J. The arc of Japan's economic development.
Chng, M.K; Hirono, Ry-kichi, et. al. ASEAN-Japan industrial co-operation: an overview.
ASEAN Economic Research Unit, Institute of Southeast Asian, 1984.
State Domination and Financial Markets
The Chinese government has characterized its involvement in economic development as "serving rather than supervising the private economy" since 2008 (Xinhua, 2009). ith this shift in focus a number of changes to Chinese management can be expected. The paternalistic approach will remain, as it is part of Chinese culture, but there will be further estern influences, particularly with respect to the desire outcomes of management behavior.
In their efforts to serve business, the Chinese government will inevitably work harder to attract foreign investment and to allow business to set the terms by which they can seek investors. This will shift the desired outcomes of management behavior towards those sought by a wider range of investors, both domestic and foreign. Asia Aluminum provides an example of this, as foreign investor outcry over the bond scandal forced the company to consider other options. Management at that point…
Gang, Fan. (2005). China is a Private Sector Economy. Business Week. Retrieved June 8, 2009 from http://www.businessweek.com/magazine/content/05_34/b3948478.htm
Zhu, Cherrie Jiuhua. (2005). Human Resource Management in China. Retrieved June 8, 2009 from http://books.google.com/books?id=mOBwfLzp7boC&pg=PA1&lpg=PA1&dq=china+management+economic+reform&source=bl&ots=NRJMQ-pIY-&sig=rIgeR5smWqFufALsTdK5P8AHZxY&hl=en&ei=uHktSuLtHo6fsgb2m6meDA&sa=X&oi=book_result&ct=result&resnum=10
Green, Stephen. (2003). 'Two-thirds privatization': How China's listed companies are -- finally -- privatizing. Royal Institute of International Affairs. Retrieved June 8, 2009 from http://se1.isn.ch/serviceengine/FileContent?serviceID=ISN&fileid=0C55BCE1-85E3-F567-3F79-E6B47296364E&lng=en
Foley, John & Beales, Richard. (2009). A Hard Lesson for Foreign Investors in China. New York Times. Retrieved June 8, 2009 from http://www.nytimes.com/2009/03/02/business/worldbusiness/02iht-views03.1.20523651.html
China is still regarded as a developing country, its rapid growth has put it in a position to compete with the top players in the world economy. With the advancement of technology and globalization, for example, China has been able to communicate and do business around the globe. This has enabled the country and its people to benefit from prosperous partnerships. Although China has advanced to a top position in the world economy, it is also true that the country faces severe problems, which could affect this position in the long-term. Chinese officials and businesses will have to give urgent attention to problems such as the water shortage, the economic strength of its local currency, and the drug problem in the country if China is to keep up its long-term success.
One of the most important impacts that the rapid development in China has had is the environment. In addition…
Barr, C. (2010, March 22). Enough about the Yuan already. CNNMoney. Retrieved from: http://money.cnn.com/2010/03/22/news/economy/china.tension.fortune/index.htm
Beech, H. (2006). Chinese Junk. Time Inc. Retrieved from: http://www.time.com/time/asia/covers/1101020520/cover.html
Gerth, K. (2011, January 1). Can China Save the World, Twice? World News. Retrieved from: http://www.thedailybeast.com/articles/2011/01/01/chinas-environmental-problems-and-economic-growth.html
The New Agriculturist. (2004, September) China's Water Problems. Retrieved from: http://www.new-ag.info/en/focus/focusItem.php?a=1302
This was another blow for the local markets as the SOEs formed the crux of all Chinese businesses. The privatization of this sector was initiated in 1995 when the government kept the big profit-making SOEs and discarded the smaller SOEs, yet the government was forced to hand over the market share that these big SOEs had after joining WTO and eventually hand the complete control of the SOEs to the State-owned Assets Supervision and Administration Commission (SASAC) to distribute and allocate the shares which resulted in a dramatic drop of the total SOEs form 118,000 (1995) to 34,000 (current). This figure still includes some of the biggest and the core industries like those of energy, basic necessities, cement, etc. And there are many Chinese analysts who still believe that the role of the SOEs and the state can never be completely eliminated.
One of the main criticisms that the Chinese…
Richard H.K. Vietor, Julia Galef. China and the WTO: What Price Membership? 2006.
Oi, J., Bebenek, C. And Spar, D.L. China: Building "Capitalism with Socialist Characteristics." 2006.
Again, the deference shown by the King is stressed. But the Emperor is again firm -- the "Celestial Empire" lacks no goods within its own borders, thus why does it need to trade? Although not disrespectful in a direct sense, the translation suggests a slightly mocking tone of superiority in the Chinese response. The edict goes on to summarily reject, one by one, England's request to establish specific trading bases and hubs in several ports and island locations. Nor will there be any reduction of tariffs or duties as requested, upon British goods. And finally, in point eight, no missionaries or alteration in Chinese worship structures (and hence veneration of the Emperor) shall occur. In fact, the Emperor finds the requests on the whole to be so presumptuous he cannot think that a true king would make them, and instead blames the British Ambassador for the bad manners inherent in…
Documents 6.4 and 6.5. The Search for Modern China: A Documentary Collection. Michael Lestz, with Jonathan Spence, Editors. New York: Norton 1999
We also know that they engaged in robust trade, both domestic and foreign and even over the Hindu Kush and into the Persian Gulf areas. Between 1800-1700 BC, though, most of the cities were abandoned, perhaps from environmental reasons (deforestation, etc.) and perhaps from invasion from Central Asia (Bentley, et.al., pp. 49-50).
By 3000 BCE, Ancient China had developed larger regional states and political/social units called dynasties. Each succeding dynasty took over more and more territory, which allowed for a similar development in Chinese culture. Chinese political orgaqnizations were complex, and based on both the family and socio-cultural unit. Because of the abundance of population working in agriculture, though, they also turned to technological innovations that increased their own power, but also tended to shield them from outside influences. Some of these inventions include: iron casting, the compass, gunpowder, geological mining techniques, mechanical clocks, row farming in agriculture, silk farming…
Bently, J., et.al. Traditions and Encounters -- a Brief Global History. New York: McGraw Hill, 2010, Electronic.
Chinese Manufacturing Industry
The social group that I choose to analyze is the population involved with the Chinese manufacturing industry. I choose this particular group is because of three reasons. The first reason is China's economic develop is growing rapidly relative to the rest of the world. Another interesting fact is that compared with other countries, Chinese labor is much cheaper yet there is still a high skill level. Because of these factors, a large number of products are exported every year and some people have called China "factory of the world." The final reason is personal and it is because I am a Chinese, I have an intimate knowledge with China, and my family is also currently engaged in the manufacturing industry. I have access to information about the environment, economics, and politics that has led to the number of manufacturing companies in China that is currently…
Batson, A. (2007, Nov 05). Politics & economics: In china, big firms benefit from push to curb supply. Wall Street Journal Retrieved from http://search.proquest.com/docview/399090053?accountid=28041
Han, Y., Zheng, E., & Xu, M. (2014). The Influence from the Past: Organizational Imprinting and Firms' Compliance with Social Insurance Policies in China. Journal of Business Ethics, 65-77.
He, Y. (2014). The Dynamic Mechanism and Empirical Study on Distribution and Manufacturing Sector Co-evolution: Evidence from China. International Journal of u -- and e-Service, 317-328.
He, Z., & Liu, H. (2002). An analysis and strategic study of quality management in chinese manufacturing industry. IIE Annual Conference.Proceedings,, 1-6. Retrieved from http://search.proquest.com/docview/192469571?accountid=28041
This move is to lock out EP systems from other nations running their factories and ensure their lasting manufacturing competitive advantage.
Still, the onslaught of manufacturing continues to China. Dell Computer for example opened a manufacturing center in Xiamen, along the coast of China that borders Taiwan, and IBM has a sizeable office and development center in Shanghai. The most troubling aspect of this however is how quickly corporations in western nations including the U.S. will trade information and even the potential freedom of people to gain access to China. The release of personal information by Yahoo of a blogger in China and the about-face of Google on sharing search data with China on their citizens are cases in point.
Friedman (2005) - Thomas . Friedman, author. The World is Flat. Farrar, Straus, and Giroux. New York, NY.…
Friedman (2005) - Thomas R. Friedman, author. The World is Flat. Farrar, Straus, and Giroux. New York, NY. Published 2005
This is an opportune time to establish a foothold in China for the United States' knowledge economy. The longer the United States has to wait, the smaller its advantage will be upon entering the Chinese market, which it will eventually have to do.
It appears now that the United States did not benefit much from China's WTO accession. China's inadequate Intellectual Property framework diminishes the U.S. advantage in high tech industries. (Harvard, 8). Computer software, from such companies as Microsoft, are some of the most profitable products in the world, but they are often used by Chinese consumers without Microsoft being paid for it. Software products, often delivered through compact discs or even online, cost next to nothing to copy and transfer, as Chinese bootleggers have demonstrated.
The research and development costs that go into such software products is huge. Actually, they are the very epitome the United States' factor…
Feenstra, Robert C. Advanced International Trade: Theory and Evidence. Princeton, N.J: Princeton University Press, 2004. Print.
Feenstra, Robert C, and Alan M. Taylor. International Trade. New York W.H. Freeman, 2008. Print.
Abrami, R. "China and the WTO: What Price Membership?" Harvard Business School April 9, 2008. Cambridge: Harvard Business School Publishing.
Significance of the Study
This study is significant because it sheds light on a very important contributor to local and international trade. Trade fairs have a long history in providing a meeting place for buyers and sellers. They are an important channel of communication for B2B buyers and sellers. This is a significant area for study because there are limited channels of communication between B2B buyers and sellers. The previous sections have diversified the importance of communication to trade. B2B buyers and sellers cannot use mass channels of communication such as television advertising or newspaper advertising. In this market usage of personal visits and demonstrations are the common channels of marketing and communication. The B2B selling and marketing activities are less highlighted in research than B2C activities. Therefore, this study is significant because it explores a very important channel of marketing and communication in the B2B market.
The study is…
UFI.(2009). The Trade Fair Industry in Asia, 5th edition: A UFI report researched and compiled by Business Strategies Group Executive Summary -- for UFI members only." Business Strategies Group Ltd. [online] Available at http://www.ufi.org/media/membersarea/studies_reports/2009_bsg_report_summary_andorder_form.pdf [Accessed 10 May, 2012].
Viardot, E. (2004). Successful Marketing Strategy for High-Tech Firms. Volume 5. NY: Artech House
Yeshin, T. (2006). Sales Promotion. NY:Cengage Learning
China's Rise: The strategic Stake
While we have so far discussed the positive economic impact of a growing China from the perspective of Australia, there are also some concerns about China's growing stature and the changing strategic balance. As a communist nation, the U.S. And its allies including Japan have always viewed China with caution. China has repeatedly claimed that it is fully committed to peaceful economic growth as Zha Peixin, the vice president of CPIFA (Chinese people's institute of foreign Affairs) stated, "China will stick to the peaceful development, opening up, and building a harmonious society domestically and promoting a harmonious world internationally." However, the recent arrest of the Australian mining giant Rio Tinto's executive officer in China over charges of espionage has created some friction in the relationship. The recent issues involving Australia granting of visa for Rebiya Kadeer, the human rights activist from China, much against the…
1) ABS, 'China: Factsheet', Retrieved 19th Sep 2009, from, http://www.dfat.gov.au/geo/fs/chin.pdf
2) Frederick Balfour, 'China Surprisingly Strong GDP Growth 7.9%', Retrieved 19th Sep 2009, from, http://www.businessweek.com/globalbiz/blog/eyeonasia/archives/2009/07/chinas_gdp_grow.html
3) Richard Lester & Edward Steinfeld, 'China's Real Energy Crisis', Retrieved 19th Sep 2009, from, 'http://www.hcs.harvard.edu/~hapr/winter07_gov/lester.pdf
4) Zhou, Z.Y. And Tian, W.M. (eds) (2005), Grains in China: Foodgrain, Feedgrain and World Trade, Aldershot, Ashgate
Repatriation of profits have proven to be a problem as well. Fourth, as stated by Staff (2004) is the challenge presented by poor training in the sector which is stated to be "...weak both at a practical level as well as at a higher strategic level" and the problem has only been exaggerated due to the government and other regulatory authorities in China to promote logistics programs." (Staff, 2004) the fifth challenge stated is in relation to "information and communications technology" in China characterized by a: "...lack of it standards and poor systems integration and equipment. At a very basic level, the consistent supply of energy is also problematic leading to interruptions to communications through power outage." (Staff, 2004) Sixth presenting in the way of a challenge is the "undeveloped domestic industry" due to fragmentation of the logistics sector in China that is: "...dominated by commoditized and low quality transport…
Brown, Lester R. And Halweil, Brian (1998) China's Water Shortage Could Shake World Grain Markets. Worldwatch Institute 22 April 1998. Online available at http://www.worldwatch.org/node/1621.
China Logistics (2006) the Meridian Group. Hong Kong. Online available at http://www.meridiangrouphk.com/en/china_logistics/
Colby, Hunger; Diao, Xinshen, and Somwaru, Agapi (1999) Cross-Comodity Analysis of China's Grain Sector: Sources of Growth and Supply Response. Department of Agriculture, Economic Research Service, Market and Trade Economics Division. Technical Bulletin No. 1884.
Country Profile: China (2006) Library of Congress - Federal Research Division. August 2006. Online available at http://lcweb2.loc.gov/frd/cs/profiles/China.pdf .
2006 report to Congress on China's WTO compliance (2006, December 11). United States Trade Representative. Retrieved at http://www.ustr.gov/assets/Document_Library/Reports_Publications/2006/asset_upload_file688_10223.pdf brief chronology of China's intellectual property protection. Retrieved at http://www.american.edu/TED/hpages/ipr/cheng.htm
alfour, F.(2008, March 18). World sneezes, China's just fine. usinessWeek. Retrieved at http://www.businessweek.com/globalbiz/content/mar2008/gb20080318_747713.htm?chan=globalbiz_asia+index+page_asia+investing
China. The World Fact ook. Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html#Econ
Economic reform in the People's Republic of China. Wikipedia. Retrieved at http://en.wikipedia.org/wiki/Chinese_economic_reform
Gupta, a.K. (2008) the quest for global dominance. p. 239..Jossey-ass. ISN978-0-470-19440-9
Navarro, P. And Chien, E. (2006, April 21). China's devalued yuan: Hu won't budge; ush doesn't get it. New America Media. Retrieved from http://news.newamericamedia.org/news/view_article.html?article_id=3bd87bd1fb3eb56a29a5759f349165f8
Patten, C. (2005, September 26). Comment & analysis: Why Europe is getting China so wrong. Financial Times. Retrieved at http://search.ft.com/ftArticle?queryText=China+the+world%E2%80%99s+largest+economy+for+18+of+the+past+20+centuries&y=6&aje=false&x=14&id=050926000484&ct=0&nclick_check=1
The real great leap forward. (2004, September 30). The Economist print edition. Retrieved at http://www.economist.com/printedition/displayStory.cfm?Story_ID=3219418
2006 report to Congress on China's WTO compliance (2006, December 11). United States Trade Representative. Retrieved at http://www.ustr.gov/assets/Document_Library/Reports_Publications/2006/asset_upload_file688_10223.pdf brief chronology of China's intellectual property protection. Retrieved at http://www.american.edu/TED/hpages/ipr/cheng.htm
Balfour, F.(2008, March 18). World sneezes, China's just fine. BusinessWeek. Retrieved at http://www.businessweek.com/globalbiz/content/mar2008/gb20080318_747713.htm?chan=globalbiz_asia+index+page_asia+investing
China. The World Fact Book. Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html# Econ
Economic reform in the People's Republic of China. Wikipedia. Retrieved at http://en.wikipedia.org/wiki/Chinese_economic_reform
China-U.S. bilateral relationship
The past one decade of the 20th century has witnessed dramatic fluctuations in the China-U.S. relations. For instance, the Taiwan Strait led to several summit meetings to take place in Washington and eijing to decide the fate of the countries. Additionally, the decade ended with the relationship facing serious challenges including a U.S. congressional investigation on the contribution of the Chinese government to the U.S. campaigns (Huang 2000). An important note is that, their bilateral trade relations have become a challenge in recent years owing to several issues. The issues include the large and developing U.S. trade deficit with China, rebellion by China to appreciate its currency to market standards, China's inconsistency in executing WTO obligations, infringement of U.S. rational chattels, and many Chinese industrial policies that impose new restrictions on foreign companies (Khalizad 1999). Owing to the relationship the two countries have, I felt this was…
Andrew, JN & Robert SR 1997, The Great Wall and the Empty Fortress: China's
Search for Security, WW Norton, New York.
Chen, J 1992, Ideology in U.S. foreign policy: case studies in U.S. China policy, Praeger Publications, New York.
Chin, J 2012, National Interest Frames and the Sources of American Public Opinion about China, Princeton University.
Earlier studies based on Bretton oods data were only refuted because the data sets of the later studies were insufficiently long. It may be, therefore, that Himarios is one of many that will now be able to demonstrate that long-term equilibrium is possible. It may that it requires nearly at least three decades' worth of data and a multi-country study in order to see the equilibrium emerge, meaning that previous theories were simply not taking into consideration the time frames that would be required for production, wage and policy shifts to be implemented and have their impact on a nation's balance of trade.
Himarios' findings do suggest that externalities cannot be maintained. hile a single government can maintain consistent economic policy for decades seemingly regardless of the consequences (Cuba or North Korea, for example) a free economy cannot. Eventually a trade deficit will result in a workforce demanding jobs, for…
Ahmad, J. & Yang, J. (2004). Estimation of the J-curve in China. East-West Center Working Paper. No. 67, 2004. Retrieved March 31, 2010 from https://scholarspace.manoa.hawaii.edu/bitstream/10125/3706/1/ECONwp067.pdf
Akbostanci, E. (2002). Dynamics of trade balance: The Turkish J-Curve. Economic Research Center. Retrieved March 31, 2010 from http://www.erc.metu.edu.tr/menu/series02/0205.pdf
Backus, D., Kehoe, P., Kydland, F. (1994). Dynamics of trade balance and the terms of trade: The J-curve? The American Economic Review. Vol. 84 (1) 84-103.
Bahmani-Oskooee, M. & Niroomand, F. (1998). Long-run price elasticities and the Marshall-Lerner condition revisited. Economics Letters. Vol. 61 (1) 101-109
S. For its weapons sales to Taiwan. (Janbo)
It must also be noted that China's Naval expansion is a departure from what many experts conjectured in the recent past. Like many before, Lee Lai To commented just a few years ago that China, regardless of its even then obvious desire to expand its naval might would be very unlikely to challenge the U.S. In any significant way. To argues that:
"U.S. military deterrence and U.S. interests -- particularly with regard to maintaining the security of the sea-lanes and forward deployment of the U.S. military in the Asia-Pacific region, including the South China Sea area -- have made and will continue to make China extremely cautious about engaging in actions that might draw Washington into the South China Sea disputes. (To 26)" (Wong)
To was also quick to note that up to the time of his research and work in 2003…
"China tells U.S. that'd. China Sea is 'core interest' in new policy." Associated Press 3 July 2010: http://www.breitbart.com/article.php?id=D9GNI5600&show_article=1 .
"Gates on China: Speaking the truth makes the Pacific a safer place." Wals Street Journal Opinion 6 June 2010: http://online.wsj.com/article/NA_WSJ_PUB:SB10001424052748704183204575289743788180892.html .
Janbo, Jian. "China Takes New Tack in Maritime Diplomacy ." Asia Times Online 14 July 2010: http://www.atimes.com/atimes/China/LG14Ad01.html.
Kate, Daniel Ten. "U.S. Criticism of China's Military May Overshadow Asian Security Meeting." Bloomberg 15 July 2010: http://www.bloomberg.com/news/2010-07-15/u-s-criticism-of-china-s-military-may-overshadow-asian-security-meeting.html .
Week 6. China's Democratisation: Implications for International elations
Is it a fantasy to expect China's democratization through trade and engagement with the West?
It is rather difficult to consider trade as being a democratization tool. Indeed at the moment, political affairs and economic affairs are connected and interdependent. However, China represents a totally different political system and is one of the most important actors on the global economic scene.
The East -- West confrontation represented in the beginning an ideological confrontation between what communist and capitalism stood for in terms of human rights, economic practices, but most importantly political views. During the Cold War, the bipolar system of the world refused to accept any ties, other than symbolic UN -- type of communications between the two poles. Still the U.S., especially during the period of President Nixon reestablished ties with communist China, regardless of its ideological differences. This comes to…
David Zweig and Bi Jianhai, "China's Global Hunt for Energy," Foreign Affairs, vol. 84, no. 5 (2005), pp. 25-38.
The U.S. trade deficit and downward pressure on wages in many industries is more a factor of the Chinese manufacturing sector being more aggressive in lean manufacturing and efficiency practices (Taj, 2008) than any other factor. To demonize China is to miss the point of what it means to be in a market-driven global economy. Only after nearly going bankrupt and needing huge federal assistance programs are American automakers finally building small cars. Like a drug they were addicted to, American auto manufacturers could forever build larger cars and trucks, even originating Sport utility Vehicles (SUVs) as a category, and never pay attention to fuel economy or cost of ownership. With GM nearly bankrupt it looks as if their SUV addiction is finally being broken. But it took a full-scale intervention, the magnitude the U.S. has not seen since the Great Depression, to wake these companies up and make them…
David D. Hale and Lyric Hughes Hale. (2008). Reconsidering Revaluation; the Wrong Approach to the U.S.-Chinese Trade Imbalance. Foreign Affairs, 87(1), 57-66.
Hu, J., Su, Y., & Chen, C. (2008). Efficiency of Nationwide Banks in China. Journal of American Academy of Business, Cambridge, 13(2), 84-90.
Lo, C.. (2007). China's Yuan Decision. The International Economy, 21(4), 78-81.
Shahram Taj. (2008). Lean manufacturing performance in China: assessment of 65 manufacturing plants. Journal of Manufacturing Technology Management, 19(2), 217-234.
Is China a status quo or aggressive power?
Johnston (2013) argues that China's allegedly new assertiveness is nothing of the sort. He makes the case that this view underestimates the aggressiveness of past Chinese foreign policy, and that the country has not really changed its level of assertiveness. This aligns with the explanations that Fravel (2007) has of past hard power that China has used in border disputes, which also highlights that there has been aggression in the past. The author also argues that the assertiveness level of Chinese foreign policy since 2010 has been overstated. The crux of the argument made is that China was always assertive in certain contexts with respect to foreign policy, and it remains assertive in those contexts. The level of assertiveness has not actually changed much. Perhaps people are just noticing it more -- he literally shows a graph of news articles about…
Callahan, W. (2012). China's strategic futures. Asian Survey. Vol. 52 (4) 617-642.
Fravel, M. (2007). Power shifts and escalation explaining China's use of force in territorial disputes. International Security. Vol. 32 (3) 44-83.
Huang, Y. & Ding, S. (2006). Dragon's underbelly: An analysis of China's soft power. East Asia Vol. 23 (4) 22-44.
Hughes, C. (2011). Reclassifying Chinese nationalism: The geopolitik turn. Journal of Contemporary China Vol. 20 (71) 601-620.
China & India: Rapid Economic Growth -- Additional pages
Additional Introduction / Conclusion Copy
How did China and India emerge so rapidly as enormous economic powers? This paper reviews the circumstances of the economic advancement that both countries have made, and establishes that these nations became economic powerhouses due to the sheer size of their economies -- along with the strategies they employed.
The Indian economy has been among the "fastest growing economies" in the world since the late 1980s, according to Kunal Sen, writing in the peer-reviewed journal Contemporary South Asia. He insists that most experts (in "the international financial press") are incorrect when they assert that the Indian economy began to accelerate following the "radical economic reforms of 1991" (Sen, 2009, p. 364).
In fact, Sen writes, the gross domestic product (GDP) per capita began to rise "…in the late 1970s, and has kept on steadily increasing over…
Mallick, Hrushikesh, and Mahalik, Mantu Kumar, 2008, 'Constructing the Economy: The Role of Construction Sector in India's Growth', Journal of Real Estate Finance and Economics, vol. 40, 368-384.
Sen, Kunal. 2009, 'What a long, strange trip it's been: reflections on the causes of India's growth miracle', Contemporary South Asia, vol. 17, 363-377.
Tyers, Rod, and Golley, Jane, 2010, 'China's Growth to 2030: The Roles of Demographic Change and Financial Reform', Review of Development Economics, vol. 14, 592-610.
Zhang, Wei, and Liu, Xiaohui, 2009, 'Introduction: Success and challenges: an overview of China's economic growth and reform since 1978', Journal of Chinese Economic and Business Studies, vol. 7, 127-138.
This is to suggest that little in the way of resistance will be practical. Because this transition is occurring by the paths of global free trade, state governance is having little impact on slowing down the transfer of properties and equities throughout the world into Chinese hands. The best recourse available to the est, therefore, is a dual strategy of cooperation with China and the mutual creation of meaningful global alliances intended to regulate matters of trade and interstate commerce.
Martin Jacques, hen China Rules the orld: The End of the estern orld
and the Birth of a New Global Order, New York: The Penguin Press, 2009,
Chapter 11: "hen China Rules the orld," pp. 363-413.
David M. Lampton, The Three Faces of Chinese Power: Might, Money, and Minds, Berkeley, CA: University of California Press, 2008, Chapter…
Martin Jacques, When China Rules the World: The End of the Western World
and the Birth of a New Global Order, New York: The Penguin Press, 2009,
Chapter 11: "When China Rules the World," pp. 363-413.
David M. Lampton, The Three Faces of Chinese Power: Might, Money, and Minds, Berkeley, CA: University of California Press, 2008, Chapter 7: "What
China's Taiwan Policy
China -- the most populous country in the world -- has exhibited remarkably high levels of sustained economic growth in the two decades since it reformed its economy following the death of Mao Zedong in 1976. According to some analysts, the country is poised to become the number one economy in the world sometime in the mid-twenty first century. There are, however, certain political issues that may affect China's rightful role in the future world affairs. One of them is the 'Taiwan affair' -- a problem that has defied a satisfactory resolution ever since the Communist forces defeated the Kuomintang (KMT) in the Chinese Civil ar in 1949 and Chiang Kai-Shek
retreated to Taiwan along with 2 million of his supporters from the Mainland China. The political status of Taiwan (or the state of Republic of China) has, since that time, been a source of concern for…
Lee, Lai To. The Reunification of China: PRC-Taiwan Relations in Flux. New York: Praeger Publishers, 1991
"The One-China Principle and the Taiwan Issue." White Paper On Taiwan Issue
Taiwan Affairs, Office of the State Council. 2001. April 23, 2005.
Pannell, Clifton W. "Taiwan." Article in Microsoft Encarta Online Encyclopedia 2005. April 23, 2005.
ut India could catch up if it successfully encouraged private companies to compete and survive, put a check on poorly performing financial institutions and those yielding to political compromises. These measures could help boost India's savings and investment. On the other hand, China also needed to catch up with India's institutional strength (Prime).
ut both continue to be plagued with respective problems. China continues to suffer from serious situations, such as an uneven competition in the private sector, a very sluggish financial sector, and trade patterns, which enhanced foreign but not domestic markets. It appears ahead of India because of the time element. It instituted reforms more than a decade before India's. Nothing could tell when and how India could catch up or match China's phasing. Some critics assumed that China's successes became the basis of its regional leadership in the 21st century. Understanding the underlying forces behind the development…
Business Editors, 2007, Competitive outsourcing opportunities, Business Wire, Gale
Dahlman, Carl J., 2007, China and India: emerging technological powers. Issues in Science and Technology, ProQuest Information and Learning Company
Herd, Richard and Sean Dougherty, 2007, Growth prospects in China and India
China's Economy And Foreign Policy
There have been radical changes in the internal political and economic scenario of China during the last two decades. (Lampton, 2001) The growing economic stability and control has increased the status of china to a great extent among its trading counterparts. Further, it has become obligatory on the part of the Chinese Government to make it certain that the economic development to restructure the political discipline whose ideology had a severe jolt with the fall of Soviet Union. (Part Two - Chinese Foreign Policy) Ever since the inception of economic reforms in China during 1978 there is a considerable enhancement in the Gross Domestic Product to the tune of 9.5% per annum on average. It is pertinent to probe on the factors responsible for such a great success. The success is attributed to the adoption of institutions and policies by the Chinese Government that could…
Burns, Robert (1997) "Gore, Gingrich set missions to woo China" The Associated Press.
Carr, Earl. (February 19, 2004) "U.S. Diplomacy Needs Chinese Characteristics" Asia Times. pp: 5-7
Chinese Foreign Policy. Program for Contemporary Silk Road Studies. Retrieved from http://www.silkroadstudies.org/china.htm Accessed on 18 March, 2005
Chow, Gregory. (2000) China's Economic Reform and Policies at the Beginning of the 21st Century. Perspectives. Vol: 2; No: 1; pp: 47-53
China's Economy During and After the Economic Crisis
All of these factors created major growth for China for the three decades following the beginnings of its economic reforms, and then the financial crisis hit. China began the twenty-first century with a growth rate of 8.4% in 2000, peaking in 2007 with a 13% growth rate (IMF 2010). In 2008, this rate fell to 9.6% -- a significant drop, but still a significant growth rate as well (IMF 2010). The estimated growth rate in 2009 showed a slower drop to 8.7%, and forecasted growth in 2010 showed the rate climbing back up to 10%, with an average rate for the decade still at 9.9% despite the hiccup caused by the global downturn (IMF 2010).
A large reason hat China was so insulated form the economic shock that was so devastating in other parts of the world was because of the swift…
CIA. (2010). "China." World Factbook. Accessed 3 November 2010. https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html#
Goldstein, M. & Lardy, N. (2007). "China's Exchange Rate Policy: An Overview of Some Key Issues." Peterson institute for International Economics. Accessed 3 November 2010. http://www.iie.com/publications/papers/goldstein-lardy1007.pdf
Helicon. (2009). "Balance of payments." Farlex Encyclopedia. Accessed 3 November 2010. http://encyclopedia.farlex.com/balance+of+international+payments
IMF. (2010). "Countries with the highest GDP growth rates." Accessed 3 November 2010. http://www.gfmag.com/tools/global-database/economic-data/10304-countries-with-the-highest-gdp-growth-2000-2010.html
S. intelligence and military analysts expected, prompting fears that Beijing will attack Taiwan in the next two years, according to entagon officials." However, the Taiwanese spokesman, Chang Jung-kung, says this report is inaccurate, noting that the entagon does not take into account the latest development between Taiwan and China, who have entered a new phase since Chairman Lien Chan's journey of peace to China in 2005. China also responded by reporting that the entagon "viciously exaggerated Chinese military outlay, spreading a 'China threat theory.'"
In conclusion, it appears as if the growing differences in economic and political policies between the United States and China have increased watchfulness and suspicion on the parts of both major countries, leading to the possibility of another "Cold War" between the U.S. And another new, threatening communist country, China.
Clark, Matthew, "China a Security Threat to U.S. " the Christian Science Monitor, 28 Jun…
Phillip Saunders, Chinese Views of Its Military Modernization, Monterey Institute of International Studies, 2000.
Ibid. page 58.
Matthew Clark, "China a Security Threat to U.S. " the Christian Science Monitor, 28 Jun 2005.
She then receives abuses at home and at school for her choices, even though her choices are directly evident of communist ideals. She therefore feels as if no one from the principle to the janitors respect her and she receives no respect even at home. Cuiyuan faces a universal challenge, as her ideals have told her that the right thing to do is study hard and achieve academic success, this she has done, yet it is not really appreciated because she has not met the old standard of academics and has not chosen a path that will improve her family. Though the family may be improved by the esteem of their daughter's rise to become a professor they are still challenged by the fact that this path is not yet defined enough to offer improvement, in the same manner that thousands of years of tradition based on marriage as the…
China, (1975) Breaking With Old Ideas Motion Picture. http://www.archive.org/details/Breaking_With_Old_Ideas
Harvey, D. Money, Time Space and the City
Congwen S. Bian Cheng
China and Europe have taken divergent views of religion, commercial exchange, and politics. However, there have emerged various points of commonality and intersection. Chinese and European society have both evolved through periods of feudalism and "warring states," and both have generally preferred centralized systems of power. China and Europe have both participated robustly in global trade, and have each developed profitable and enduring routes of trade that facilitate the movement of people, goods, and services.
Imperialism has remained a core strategy for both Chinese and European political and economic leaders. While China has refrained from actively colonizing the regions it has traded with, European societies have prided themselves on their imperial prowess. China's tendency towards imperialism has been selective, strategic, and regional in focus, whereas European colonization has been extensive and geographically expansive. Moreover, the goal of European imperialism merges with the colonial strategy of controlling the local population extensively.…
Gainty, D. & Ward, W.D. (2012). Sources of World Societies. Volume 1. Bedford/St. Martin's.
The holistic theory of health, "Therefore... looks for the signs of disharmony in the external and internal environment of a person in order to understand, treat and prevent illness and disease." (Traditional Chinese Medicine: NHS)
It is also important to note that the Chinese medical theory is closely linked to their ways of thinking or philosophy. This includes the theory of complementary opposites such Yin-yang, the Five Elements, the human body Meridian system and others. (Traditional Chinese medicine) the following quotation clearly shows the way in which Chinese medicine attempts cures and better health by looking at the overall situation of the individual. This is a very different approach to the conventional estern method focusing only on the central area of illness or concern.
Traditional Chinese medicine has a "macro" or holistic view of disease. For example, one modern interpretation is that well-balanced human bodies can resist most everyday bacteria…
China. July 12, 2006. http://en.wikipedia.org/wiki/China
Chinese Art. July 13, 2006. http://library.thinkquest.org/26469/contributions/artintro.html
Chinese cuisine. July 13, 2006. http://en.wikipedia.org/wiki/Chinese_cuisine
Chinese Herbal Medicine. July 13, 2006. http://library.thinkquest.org/26469/contributions/harbalmedicine.html
A neo-mercantilist trade policy is defined as a situation where the state plays an active role in shaping trade, building a close relationship with the country's businesses. In doing this, the state will take steps to encourage exports, discourage imports, and generally seek to create the conditions where the nation's producers can thrive (Thoma, 2009). Based on this definition, it is hard to argue against the idea that China is employing a neomercantilist policy. The PRC exerts strong control over imports, while providing a wide range of support to exporters. These supports include currency manipulation – not allowing the yuan to float freely is passive manipulation – the provision of financing by the state-owned banking system, and a system of favorable trade barriers.
China's trading partners should take action – the question is what? There are limits to what actions can be taken within the confines of…
Since Chinese exports to the United States were six times greater than America's exports to China in 2006, it was a clear reflection of America's most imbalanced trading relationship. The debate on whether or not the United States should trade with China began in the early 1990s when America's economy was much healthier and Chinese exports to the United States were smaller. In the recent years, this debate has risen to include concerns on whether China's trade policies are resulting in the transference and loss of many U.S. jobs.
Reasons hy the U.S. Should Not Trade with China:
Given the concern by policymakers and the entire American public, the United States should not trade with China because of various reasons which have a huge impact on the American population. These reasons include:
As mentioned earlier, this is one of the reasons why the United States should not trade…
Morrison, Wayne M. "China-U.S. Trade Issues." Federation of American Scientists. Federation of American Scientists, 1 July 2005. Web. 13 May 2011. .
Scott, Robert E. "Costly Trade With China: Millions of U.S. Jobs Displaced with Net Job Loss in Every State." Economic Policy Institute: Research and Ideas for Shared Prosperity. Economic Policy Institute, 9 Oct. 2007. Web. 13 May 2011. .
Trumbull, Mark. "How Much Does U.S.-China Trade Hurt American Workers? Slowly, a Clearer Picture." The Christian Science Monitor. The Christian Science Monitor, 10 May 2011. Web. 13 May 2011. .
Country Study: China
International trade and finance
China Economic Issues with Trade
Suggestions for improving trading practices
COUNTY STUDY: CHINA
COUNTY STUDY: CHINA
COUNTY STUDY: CHINA
China, officially the People's epublic of China (PC), is considered to be a sovereign state located in East Asia. It is the world's most populous country, with a population that has over 1.35 billion. The People epublic of China is a single-party state which is supervised by the Communist Party, with its seat of government in the capital city of Beijing (Naughton, 2012). It handles a regions that is over some 22 provinces, five of them are autonomous districts, four are direct-regulated cities (Beijing, Tianjin, Shanghai, and Chongqing), and two typically self-governing special administrative districts (Macau and Hong Kong ). (Snyder, 2011)The PC People epublic of China likewise makes the claim that Taiwan -- which is mostly controlled by the epublic of…
Lin, Cai and Li, The China Miracle. (2003, September 26). Retrieved from Chinese University Press: http://books.google.com/books?id=_OEwbLZ2vYwC&printsec=frontcover&dq=Lin,+Cai+and+Li,+The+China+Miracle,+Chinese+University+Press,+2003&hl=en&sa=X&ei=8CRCUqmkFaTx2QX01oGwDg&ved=0CDEQuwUwAA#v=onepage&q&f=false
Penn World Tables. (2013, September 7). Long run time series of comparable main economic aggregates for many countries in the world. https://pwt.sas.upenn.edu/.
World bank World Development Indicators. (2013, September). Time series of economic and social indicators for every country in the world (annual frequency). http://databank.worldbank.org/data/home.aspx .
Assem Reda, A.H. (2012). Exploring egypt-china bilateral trade: Dynamics and prospects. Journal of Economic Studies, 39(3), 314-326.
S. inflation in check, even during economic boom times.
The debate about increasing protectionism in the U.S. boils down to a clash of cultural values. In the natural course of international trade, there will be those who suffer and those who benefit. International markets are amoral. Trade is conducted between nations with the intent of raising the standard of living for both, but this is on aggregate, not universally. As a result, jobs losses in some sectors, particularly those where the U.S. does not have comparative advantage, are inevitable. To enact protectionist measures to stem those job losses will have three negative impacts.
The first is retaliatory trade measures. Tariffs and other protectionist measures tend to go hand in hand. If a country protects its industries, nations that trade with that country will do the same. This is the classic Smoot-Hawley scenario. To protect American jobs during the…
No author. (2009). Top ten countries with which the U.S. trades. Census.gov. Retrieved December 6, 2009 from http://www.census.gov/foreign-trade/top/dst/current/balance.html
No author. (2007). David Ricardo and comparative advantage. NetMBA.com. Retrieved December 6, 2009 from http://www.netmba.com/econ/micro/comparative-advantage/
US Department of State. (no date). Protectionism in the interwar period. U.S. Department of State. Retrieved December 6, 2009 from http://www.state.gov/r/pa/ho/time/id/17606.htm
Evenett, S. (2009). The G20's assault on world trade. VOX. Retrieved December 6, 2009 from http://www.voxeu.org/index.php?q=node/4008
Economics in China (Manufacture)
There is a time and stage for all types of manufacturing and what may be seen to succeed in China is not likely to succeed in many other countries like the United States. Chinese economy has developed very fast and that has attracted attention from all over the world in the business community. This has led to a rapid increase in their foreign direct investment and share in international trade. There are continuously new businesses coming into China, trade agreements are being finalized, and a lot of foreigners are rapidly coming into China. The point where the foreign managers and the Chinese managers are meeting is being studied by many consultants. Some reasons for the growth of business in china are also due to their culture, and that is one of the oldest cultures in the world. Their culture has always had a system of client…
Eric Wahlgren; "Street Wise" November 19, 2003 Retrieved at http://www.businessweek.com/technology/content/nov2003/tc20031121_1964_tc121.htm
Einhorn, Bruce. "Online Asia" October, 6, 2003 Retrieved at http://yahoo.businessweek.com/technology/content/oct2003/tc2003106_9749_tc058.htm
Newsmaker Q&A." November 21, 2003 http://www.businessweekeurope.com/bwdaily/dnflash/nov2003/nf20031119_2463_db014.htm
Roberts, Dexter. "Is China's Boom in Danger?"
Only a few decades ago, China was a struggling economy. It is much newer in the free market economy system as compared to the already established economical giants, given the country's communist history. China, a country with an extremely high population, put its resources to its best possible advantage and that was something which contributed towards the country's rapid growth. China has one of the cheapest labor and energy and power resources available for its production. As a result, the industries can achieve economies of scale and thus can cut down on their cost of production. As a result, China enjoys a greater absolute advantage over its competitors. Importers around the world have realized the fact that importing goods from China is relatively much cheaper as compared to imports from other developed economies. These cheaper imports allow them a greater profit margin. Moreover, given the fragile economic conditions and declining…
Kreh, W. (2008). Money, Debt and Wealth of Nations. Canada: COMER publications
Lipsey, R. & Chrystal, K. (1997). An Introduction to Positive Economics. London: Oxford University Press.
Zweig, D. & Jianhai, B. (2005). China's global hunt for energy. Foreign Affairs, 84(5), 25-38.
Hale, D. & Hale, L. (2003). China takes off. Foreign Affairs, 82(36).
Farmers are stated to have become "risk takers, created new markets, developed rural industries and migrated to urban areas. Farmers were no longer slaves to the state..." (1996)
Dorn notes the statement of Jianying Zha (1994:202) in the book "China Pop" that:
The economic reforms has created new opportunities, new dreams, and to some extent, a new atmosphere and mindsets. The old control system has weakened in many areas, especially the spheres of economy and lifestyle. There is a growing sense of increased space for personal freedom."
Dorn states that the optimism of Zha would certain be shared by anyone who has: "...seen the vibrancy of the market, the dynamism of the people, and the rapid growth of urban areas..." (1996) Dorn states: "Commercial life in China is evolving naturally as people flee the countryside for improved living conditions and the chance to strike it rich in the growing nonstate…
Daniel T. Griswold, CATO Institute, (2005)"Trading Tyranny for Freedon: How Open Markets Till the Soil for Democracy."
Dorn, James a. (1996) Trade and Human Rights: The Case of China. The Cato Journal Vol. 16 No.1. Spring-Summer 1996 Online available at http://www.cato.org/pubs/journal/cj16n1-5.html
Fewsmith, Joseph (2007) the Political Implications of China's Growing Middle Class. China Leadership Monitor. No. 21 the Hoover Institution. Online available at http://www.hoover.org/publications/clm/issues/8535722.html
Gresser, Edward (2006) Trading in Myth - Blueprint Magazine 9 February 9, 2006. Progressive Policy Institute. Online available at http://www.ppionline.org/ppi_ci.cfm?knlgAreaID=108&subsecID=206&contentID=253726
The Chinese currency was selected as the focus of this study for several reasons. The primary reason behind this selection is the rising importance of the Chinese currency's valuation compared to other major world currencies. This is because of China's already large and still-growing trade presence in all global markets and the artificial nature of its currency's valuation, as the government manipulates the exchange rate for the enminbi by tying it to certain other currencies rather than allowing it to "float" with market forces as do most other countries in the developed and developing world (India Times 2010). Despite this artificial hold on the currency, however, the enminbi has been allowed to appreciate in value at an increasing rate, and this is beginning to have an effect on the significant trade surplus that the country has long maintained (India Times 2010). The fact that China is the world's second…
India Times. (2010). U.S.-China trade and currency row rumbles on at APEC summit. Accessed 27 January. http://economictimes.indiatimes.com/news/international-business/U.S.-China-trade-and-currency-row-rumbles-on-at-APEC-summit/articleshow/6921709.cms
Lin, J. (2004). Lessons of China's Transition from a Planned Economy to a Market Economy. Leon Kozminski Academy of Entrepreneurship and Management (WSPiZ) and TIGER Distinguished Lectures Series n. 16.
Heckscher-Ohlin explain China's Trade?
The Heckscher-Ohlin Theorem, essentially, states that a capital-abundant country will export capital-intensive goods, whilst a labor-abundant country will export labor-intensive goods. The following essay suggests that contemporary USA and China follow the pattern of the Heckscher-Ohlin Theorem where America, low in unskilled human labor but high in capital and agriculture, exports those goods in quantity, whereas China, low in capital but rich in unskilled human labor, exports those resources. Focusing on China, the essay traces China's current economic policies and patterns of trade in order to establish whether China's pattern of trade is consistent with the predictions of Heckscher-Ohlin.
Statement of the Problem
The Heckscher-Ohlin Theorem states that a capital-abundant country will export capital-intensive goods, whilst a labor-abundant country will export labor-intensive goods. The following essay wonders whether China's economic policies and system, in general, and the Chinese-U.S. trade routine, in particular, coheres with…
China's currency policy may make that country the main country with whom the U.S. has a current account deficit, but if not for China the U.S. would have the same problems, just with another country for the protectionists to scapegoat.
3) I think an aggressive legislative posture is the best approach to take with regards to China's currency position. Ultimately, China is an economic actor the same as any other. They are going to do what they feel is best for their country (Wolf, 2006). Thus, in a situation like this where their currency policy is viewed to be doing harm to the U.S. economy, the best approach to make them reconsider such policy is to alter the economics of that policy. Thus, tariffs, sanctions and anti-dumping fines are the most effective means.
In the specific case of China, the notion that a WTO ruling is going to change their…
Martin Wolf, "How China has Managed to keep the Renminbi Pinned Down," Financial Times, October 11, 2006, p.13
Sue Kirchhoff, "First step: China Will Stop Pegging Yuan to Dollar," USA Today, July 22, 2005, pp. 1B, 2B
Keith Bradsher, " a Chinese Revaluation May Not Help U.S.," the New York Times, January 4, 2005, pp. C1, C5
Ronald McKinnon, "The International Dollar Standard and Sustainability of the U.S. Current Account Deficit," Stanford University, March 29/30, 2001, retrieved online June 11, 2008 at http://www-econ.stanford.edu/faculty/workp/swp01013.pdf
China's accession to the World Trade Organization for China and its trading partners with a focus on the United States. Findings indicate that China will benefit from new export markets and increased foreign investment. The main efficiency gains from WTO membership for China will be in the protected and non-traded sectors, which will feel the impact of import competition or the arrival of new foreign-backed competitors.
China's market access commitments will provide U.S. businesses the opportunity for significantly greater market access to a broad range of goods and services in sectors that are of key importance to U.S. businesses. East Asian economies could also benefit significantly from China's membership. Japan, the Republic of Korea, and Taiwan (China) all provide intermediate goods and quality consumer durables that could gain market share in China.
Premised on the principles of free trade, the World Trade Organization (WTO) requires new member nations to…
Cheng, L. (1999, December). China's economic benefits from its WTO membership. Retrieved November 25, 2003 from Center for Economic Development Web site: http://www.bm.ust.hk/~ced/wto.htm
China and the WTO. (1999, November 20). Retrieved November 25, 2003 from Taiwan Security Research Web site: http://taiwansecurity.org/IS/Economist-991120-China-and-the-WTO.htm
China at the gates of the World Trade Organization. Transition Newsletter. Retrieved November 25, 2003 from World Bank Web site: http://www.worldbank.org/html/prddr/trans/marapr00/pgs13-14.htm
Groombridge, M. (2001, July 24). China's accession to the WTO: a winning outcome for both China and the United States. China Brief Vol 1 Issue 1. Retrieved November 25, 2003 from The Jamestown Foundation Web site: http://russia.jamestown.org/pubs/view/cwe_001_002_001.htm
Trade Agreements and Negotiations on International Trade
Trade is important to countries all around the world. International trade opens up job opportunities and also leads to development of economic activity in every region of the trading country. The trading countries must also ensure that traders, whether self-employed entrepreneur, corporate executive or pensioner must bear the responsibility of making sure that goods and services are transported efficiently to global markets. The best way to advance in international trade is to work on two aspects namely, the Trade Commissioner Service, and also foster productive ways of negotiating and administering trade agreements and rules.
International Trade is defined as follows:
The law relating to the exchange of goods and services between nations. Legal issues can relate to tariffs and government restrictions on export and import, as well as the contracts between the trading partners." [LawyerLocator - Glossary of Terms]
International Economic Data Bank - UN Trade Data, available at http://iedb.anu.edu.au/iedb/datainfo/UNtradedata.htm, accessed on: October 31, 2003
International Trade, available at http://www.dfait-maeci.gc.ca/trade/menu-en.asp , accessed on: October 31, 2003
International Trade Research, available at http://www.worldbank.org/research/trade/majoract.htm , accessed on: October 31, 2003
ITC - Products - Market Development Section - Artisanal Products Home Page, available at http://www.intracen.org/mds/sectors/artisanal/welcome.htm , accessed on: October 31, 2003
The Chinese invented gunpowder, but they do not use it to make guns to invade others, the Chinese invented the compass, but they do not use it to make warships to prowl about the four seas. At the United Nations, Chinese leaders once promised to the world that "China will never seek hegemony." China has settled all boundary questions with its neighbors through peace negotiations, consultations on an equal footing and on the basis of mutual understanding and mutual accommodation, it has never imposed its own will on others. So, from the perspective of security, the view holding that China, after it is developed, would constitute a threat to others is entirely groundless."
China's rapid success is seen by Americans as a threat. But the U.S. is actually in a position to turn this shift into an opportunity to grow. China's rapid economic growth has changed the world and helped…
Kurlantzick, J. (September, 2003). Are Chinese Companies a Threat to Your Small Business? Entrepreneur.
Lardy, Nicholas. (2002). The Economic Rise of China: Threat or Opportunity? Federal Reserve Bank of Cleveland.
Nolan P. (2004). Transforming China Globalization, Transition and Development. Anthem Press.
People's Daily Online. (August, 2005). China: Is it a threat, or an opportunity?
China's Interests in Iran
The following hite Paper is an examination of the prospects and pitfalls for China in pursuing further economic opportunity through its investment in the future of Iran. As the two nations proceed with the explicit intention of further entwining prospects both economically and diplomatically, China must move forward with care and precision. As the discussion here will demonstrate, its opportunities and the level of commitment already pursued are quite ample, but it will also be necessary for China to take a more active role in helping to reign in some of Iran's behavioral excesses if it is to enjoy the benefits of this relationship. And quite to the point, it will also appear to be in the best interests of Iran to accommodate calls for a more moderate disposition in world affairs if it is to benefit from the opportunities presented by China. The mutuality of…
China Knowledge Online (CKO). (2009). Iran, China to strengthen energy cooperation. China Newswires.
Daraghi, B. (2009). Iran signs $3.2-billion natural gas deal with China. Los Angeles Times. Online at http://www.latimes.com/business/la-fg-iran-china15-2009mar15,0,4516210.story?track=rss
Hiro, D. (2005). Iran's Nuclear Ambitions. The Nation. Online at http://www.thenation.com/doc/20050912/hiro
ICS. (2003). History: The Islamic Revolution of 1979. Iran Chamber Society. Online at http://www.iranchamber.com/history/islamic_revolution/islamic_revolution.php
Trade Act of 1974 on Euro exchange rates?
Free Trade has been a key agenda for the past three presidents. In an expanding global market, tariffs and trade policies are more important today than they have been in the past. More and more countries are forming alliances such as the North American Free Trade Agreement (NAFTA), the Asian Alliance, and the European Union (EU). These trade agreements are meant to level the playing for all countries, both industrialized and emerging countries.
President Bush's trade policy is aimed at helping to generate American jobs, open markets to American products, and provide economic growth. Sometimes massive increases in imports can have a devastating effect on U.S. industries. [This has been the case for the U.S. steel Industry and is the issue addressed in Section 203 (B) (1) of the Trade Act of 1974. Foreign steel makers have had the luxury of government…
Arnold, James. Steel sector stares into the abyss. BBC News.com. March 6, 2002.
http://news.bbc.co.uk/hi/english/business/newsid_1857000/1857914.stm . Accessed April,
Arnold, James. Steel spat could mean wider worries. BBC News.com. March 6, 2002.