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  • Emerging China: 2020 Report Published in 1997. Although Most of Its Exports Were Once Directed Toward The European

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    China has undergone immense political, economic, and social changes that have transformed the country over the past few decades. China's transition to a market economy and rapid economic growth has produced consistent growth, making China an important economic force in Asia and globally. China's massive population and abundant natural resources have allowed it to become a major manufacturer, producing many of the world's goods at low costs and fueling its status as an emerging global power. However, critics argue that China's success is also due to unfair trade practices and poor labor conditions.

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    Emerging Chin1

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    China has undergone immense political, economic, and social changes that have transformed the country over the past few decades. China's transition to a market economy and rapid economic growth has produced consistent growth, making China an important economic force in Asia and globally. China's massive population and abundant natural resources have allowed it to become a major manufacturer, producing many of the world's goods at low costs and fueling its status as an emerging global power. However, critics argue that China's success is also due to unfair trade practices and poor labor conditions.

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    66 views5 pages

    Emerging China: 2020 Report Published in 1997. Although Most of Its Exports Were Once Directed Toward The European

    Uploaded by

    TUSHER147
    China has undergone immense political, economic, and social changes that have transformed the country over the past few decades. China's transition to a market economy and rapid economic growth has produced consistent growth, making China an important economic force in Asia and globally. China's massive population and abundant natural resources have allowed it to become a major manufacturer, producing many of the world's goods at low costs and fueling its status as an emerging global power. However, critics argue that China's success is also due to unfair trade practices and poor labor conditions.

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    Emerging China

    In the past few decades, China has undergone enormous political, economic, and demographic changes that have transformed the realities of the country. The driving force behind the recent trend of immigration to China the world's most populous nation has been the countrys rapid economic growth, compounded by its passage through a demographic transition. China's turn to a market economy has produced consistent economic growth for the country. Its economic standing in Asia has given Beijing political influence in the region, and China's trade with its neighbors has grown rapidly. China is attracting needed capital and export markets away from its neighbors. World foreign direct investment (FDI) flows into China between 1995 and 2000 were about $245.1 billion. China's investment in the United States has opened new doors such as investment opportunities that will strengthen the relationship between the two countries. Chinese state-owned companies and the Chinese government have raised an estimated $20 billion over the past decade from international bond offerings, according to the 2003 Report of the U.S.-China Security Review Commission. More than 1.45 billion transactions took place on the country's futures market last year, up 37.6 percent from the previous year, according to latest data from China Futures Association. Turnover on China's futures market reached 171 trillion yuan ($27.21 trillion) in 2012, an increase of 24.44 percent from a year earlier, industry data showed. China could turn into the second largest trading nation in the world by the year 2020 with a per capita income equal to that of the Republic of Korea or Portugal today, according to the World Bank's China 2020 report published in 1997. Although most of its exports were once directed toward the European and US markets, its sales in the Middle East and Africa have gradually increased since 2009. In just two decades, low-paid Chinese workers and a modernization-obsessed leadership have transformed China into one of the worlds biggest economies. China produces two-thirds of the worlds copiers, microwave ovens and DVD players, plus vast amounts of its clothing, shoes and toys. Chinas 9 percent growth rate over the past 25 years is the fastest economic acceleration in world history. Average income have quadrupled, and 300 million people were lifted out of poverty. China $1.6 trillion economic output is expected to triple in 15 years, overtaking the United States by 2039. Critics say the communist nation owes much of its success to unfair trade practices and abysmal labor conditions for Chinese worker. In any case, Chinas leaders are intent on maintaining growth. High unemployment, widespread poverty and growing social unrest create unstoppable demand for the economy to keep expanding. China should be regarded more as an opportunity than a threat, and it recommends a wide range of economic, strategic, and political actions that would facilitate China's

    involvement in the world community. While China's performance has been impressive, it also has the potential to maintain this growth. It has a massive population, which represents not only a large domestic market but also a cheap labour source of some eight hundred million people. It is also a country that is blessed with vast natural resources. That is why the products produce in China are more cheaper and can produce a product with both quality and quantity. Another Opportunity or advantage is that they can imitate any product with less cost and also maintain the quality. That is the reason why most of the Brand products are manufactured in China. China has also focused on its nuclear forces. The only missile currently capable of reaching North America is the DF-1, and China is estimated to have approximately fifteen systems for their defense against threats. China has embarked on an ambitious military modernization program. China's economic growth has been key in the implementation of this program. Even in its present form China has the world's largest military. China has a very active space program and a desire to pursue an information dominance policy. China has either deployed, or plans to deploy, a number of satellites which will focus on radar, electronic and electro-optical intelligence gathering, missile early warning, navigation and weather. There are also plans for counter stealth radar, signal intelligence sites and tactical reconnaissance vehicles. China's rise as an economic power, combined with its large-scale program to modernize its military, raises the question of how this power will be used. Chinese enterprises are encouraged to widen imports with trading partners that have already signed free-trade pacts with China, according to the guideline. The government will also allocate more funds to support increasing imports and offer interest discounts to products under the state's encouraged lists. The Political stability and positive reinforcement provided by the government is another reason for emerging China among the world as a economic leader. The epic transformations that have made China a global economic power almost overnight are bound to continue. Chinese leaders clearly realize they must spread the wealth that only a minority of citizens in coastal cities enjoy. Hence, Chinas fierce drive some call it ruthlessness will likely remain a defining characteristic of Chinese interaction with the rest of the world.

    Abstract
    China is one of the emerging countries that has a influence in the world economy, where most of the products are made and exported. Because of the cheap labor source, technology and availability of local resources it is very easy to produce. That is why china can compete with other products in the global market. The reasons for emergence China is political stability, strong economy, cheap labor source and an insight about the global market. China has also used its economic boom to capture the market and improve themselves. We should not underestimate China's ability to disrupt the flow of economical balance.

    Reference
    1. http://www.foreignaffairs.com/articles/50289/donald-zagoria/an-emerging-china-in-aworld-of-interdependence-a-report-to-the2. http://www.washingtonpost.com/wpdyn/content/article/2005/07/09/AR2005070900952.html 3. http://www.fas.org/nuke/guide/china/doctrine/0046.htm 4. http://www.migrationinformation.org/feature/display.cfm?ID=838 5.http://www.heritage.org/research/testimony/the-effects-and-consequences-of-anemerging-china 6. http://www.chinadaily.com.cn/business/2012-07/24/content_15613720.htm 7. http://faculty.washington.edu/karyiu/confer/tok04/papers/fernald.pdf 8. http://falcon.arts.cornell.edu/am847/pdf/cqr20051111c.pdf

    An Assignment On :

    Emerging China

    Submitted to : Md. Mesbah Uddin


    Lecturer Comparative Management (MGT-302) Department Of Management Studies University of Dhaka

    Submitted by : Md. Wahidud Jaman Tusher Roll-147, Sec-B

    Submission Date : 14/01/2013

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