Benefits of Chinas WTO Entry Chinas joining World Trade Organization obviously benefits, first of all, to Chinese economy. Since the times, when China started developing its economy to get ready for joining WTO, a lot of positive changes took place. The country, where communist ideology dominates, made important steps towards establishing and developing market economy, opened for private and foreign players. A range of principal reformations helped to improve economic indexes and economic climate of the country, to encourage manufacturing and service in some spheres of industry, to advance financial and communication infrastructures of the country, to increase the qualification of labor force, and so on. Second important benefit is that for some recent years China considerably improved its reputation among the other developing countries, and now Chinese market is considered to be one of the most prospective and profitable. Numerous investors are interested in collaboration with Chinese businessmen; soon that will result in establishing of thousands of new enterprises, offering millions of new working places and career opportunities.
The Essay on Can China Threaten the U.S Economy?
It is no secret that China owns a large chunk of the U.S deficit. The U.S. has gone into debt to combat a complete collapse of its economy after the collapse of the housing market in early 2008. Once the housing market went downhill, it was quickly followed by the automobile market and the job market. That put the U.S into survival mode, which has allowed the Chinese to purchase the amount of debt ...
In case if there would not be any serious outer obstacles or economic losses, the life level of Chinese people will significantly improve in the nearest future. Also, with joining WTO China will receive perfect opportunity to enlarge its foreign trade relations and expand at foreign markets. As a result of such globalization, a lot of new prospects of development will appear for the countrys different economic sectors. More and more export-oriented enterprises will be established, which will have to keep up with modern technologies and management, which will have to be competitive and highly profitable. Besides, intervention of foreign capitalists will benefit on numerous stages: financial, managerial, manufacturing, technological, innovative, etc. Such wide opportunities and positive changes will require deliberate and well-planned economic management of the country, and it may result in positive changes of political and administrative systems of China. In order to provide long-term and stable growth of the economy, Chinese authorities will have to solve a lot of short-term problems, involving economic, political and social spheres of life. And such a challenge can be handled only by honest, fair and corruption-free government, which would follow clear and rational economic policy, directed on competition and free market system. The other important point is that Chinas WTO entry will bring advantages to all the members of this organization, and, in particular, to the USA as a dominating country of it.
Firstly, China is the biggest country on earth, and the prospect to receive access to a huge market of more than 1 billion of potential customers is overwhelming. Expansion of the U.S. into Chinese market will result in numerous new opportunities: investments, manufacturing, marketing, distribution, etc., which will also serve for strengthening and enrichment of American economy. The other advantage for the USA is the opportunity to receive more products, manufactured in China. Recently production power and quality of Chinese goods are improving, and those times, when everything cheap and second-rated was coming from China, are left far behind. There is a great variety of products, which is being manufactured at joint enterprises and international corporations, so American businessmen will take advantage from the access to first-class, quality-priced goods manufactured in China. There are more political and social advantages, such as the opportunity to control and influence on economic dynamic of China, or the opportunity to get familiar with Chinese culture and traditions, which remain unknown and unexplored for many of us. In other words, Chinas entering WTO will make this country much closer and more opened for economic and commercial collaboration with the whole other world.
The Essay on India, China Economic Growth
India with about 1. 2 million populations and china with about 1. 3 billon population are two big demographic and emerging countries in the world . Over a past few decade India’s combination into the economic has been accompanied by remarkable economic growth (World Bank 2011¬). India is having the 3th position on the economy in purchasing power parity (PPP) terms (The Economic Times, 2012). ...
Bibliography: Cheng, Cleonard K. “Chinas Economic Benefits from Its WTO Membership.” HKUST Business School. Dec. 2004. Hong Kong University of Science and Technology 20 Apr. 2005 . Lain, Xiao.
“China and the WTO.” DAGA. Documentation for Action Groups in Asia. 20 Apr. 2005 . Quinglan, He. “What Are the Benefits of Chinas Entry WTO?”. US-China Economic and Security Review Commission. 20 Apr.
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