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China Vs United States

1366 Words6 Pages

The United States and China have always had an interesting relationship. They are both very independent countries who are looking for economic growth. The two nations can be seen as the most successful around the world. The growing concern today is the current relationship between the two. Will China overcome the United States economically? Should China be seen as superpower competition? The Nixon-Kissinger Era in 1972 made the first attempt to be allies with China. In this time period the United States had been fighting a long, drawn out battle known as The Cold War against Russia. The United States saw an opportunity to use China as a pivotal tool against Russia. Current president Richard Nixon and Secretary of State Henry Kissinger opened …show more content…

The United States economy currently currently ranks number one and China’s economy is currently ranked number two. China is still working at overtaking the United States. By the numbers the United States has a GDP of about 18.7 Trillion and China has a GDP of about 12.9 Trillion. The growing debate is whether China will overtake the United States economy or not. A study done in 2016 by Forbes.com predicts that China will overtake the United States by 2030. The study points out important details like how the United States used to produce 21% of total economic global output in 1970 but by 2000 the statistic had reached 16% and by 2025 it will be around 14%. On the other hand in 1970 China was at 4% which rose to 15% in 2015 and then in 2025 is projected to be …show more content…

Growing debate is whether they have what it takes to become a superpower or not. It is pretty obvious that China is the leading country in Asia. China is a leader in trade which is key. The United States recently withdrew from the Trans-Pacific Partnership (TPP) easily led to views that China would overtake the United States. This is because the TPP was meant to contain China’s trading power. Now this shines light on China’s role as a dominant trade power. Something China is doing that the United States is having trouble doing is embrace globalization. Globalization is the process by which businesses develop international influence or start operating on an international scale. Globalization is a very important factor for the growth of a nation. China promotes many policies to promote their trade and economy. China began the Asian Infrastructure Investment Bank and Silk Road Fund in order to finance a role on the global stage. Realistically China has had a good run but it still seems like it will fall short. Their financial sector is still underdeveloped and their economic reform is questionable. The growth will soon begin to slow as China meets economic inefficiencies. Overall making China an unstable

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