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China's Global Economy Case Study

868 Words4 Pages

Over the last three decades, China has experienced extraordinary economic growth and development and has been successfully integrated into the global economy. Now ranking as the second largest economy in the world, China’s success has been greatly attributed to the gradual shift towards market systems. Though the overall economic system of China has been significantly revolutionized, the political regime has remained inherently authoritarian and the government essentially monitors the capitalistic practices that occur in many sectors within the country. Nevertheless, this powerful augmentation of the Chinese economic system and the fervent expansion of China’s role in the global economy and political stage has presented the United States with various challenges and risks that could potentially threaten the economic and political powers the United States retains on a global scale.
At this time, the economic affiliation between the United States and China is indispensably beneficial to both countries as their trade relations generate hundreds of billions of dollars in profits between the two every year. However, the political system of the United States suspects China of engaging in unethical labor methods that violate the civil liberties of Chinese workers and corrupt trading practices, such as unfair trade and …show more content…

Despite being the largest exporter in the world, China engages in relatively small-scale outbound foreign direct investment operations, which has resulted in a considerably imbalanced trade system. In order to correct this imbalance, it is necessary for the global economic framework to be restructured. According to Marchick (2012), the expansion of China’s outbound investment could potentially be acquired largely by the United States, which would benefit both countries’ economies and strengthen the US-China

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