Free Essay

China

In: Social Issues

Submitted By CarolinaA
Words 1820
Pages 8
“La Republica Popular de China y América Latina y el Caribe: hacia una relación estratégica.”

COMERCIO INTERNACIONAL
Julio 18, 2011

Profesor
David E. Lewis

Alumna
Carolina Auffant
10-1237

La Republica Popular de China y América Latina y el Caribe: hacia una relación estratégica.

El artículo pretende retratar como desde hace más de una década las relaciones y los lazos comerciales con China se han ido fortaleciendo y como el vínculo entre ambas regiones ha ido creciendo de manera acelerada y favorable.
Para el año 2009, las relaciones entre China y América Latina habían experimentado varios impactos, con la crisis financiera global y la derivada crisis económica mundial, China y los países Latinoamericanos contrario a lo que se esperaba se enfrentaron a ellas positivamente, convirtiendo la crisis en una oportunidad para el desarrollo.
China debido al paquete de estímulos económicos lanzados para mitigar los estragos de la crisis financiera mundial y mediante ajustes estructurales e incitando el crecimiento de industrias emergentes logro a diferencia de todas las grandes potencias económica mundiales un crecimiento de un 8.7 %, derrocando a Alemania como el principal exportador de mercancías a nivel mundial y suponiendo esto una gran oportunidad para el desarrollo comercial de Latinoamérica y el Caribe.
Para el futuro se proyecto que China seguirá creciendo de manera acelerada, estimándose según la oficina nacional de estadística de china entre un 8% y 9% de crecimiento, lo que implica que seguirá impulsando el crecimiento de las economías y generando oportunidades comerciales de exportación e importación de bienes para Latinoamérica.
También y a medida que se habla de este crecimiento colosal de China se habla de la posibilidad de que la Nación esté creando una burbuja financiera, producto de la especulación bursátil con los fondos públicos orientados al salvamento de bancos y empresas en problemas. Ahora mismo un desastre financiero supondría una amenaza para Latinoamericana y el Caribe que cada vez más dependen del comercio con China para mejorar su economía y disminuir los vestigios de la crisis en las que están envueltos.
Durante la pasada década ambas regiones consiguieron fortificar el diálogo y la participación estratégica, ampliado las relaciones económicas y comerciales, transformado los elementos de cooperación, robusteciendo la colaboración en medio de la crisis mundial y buscando un progreso conjunto. Las relaciones Sino-latinoamericanas están en una nueva etapa de desarrollo, notándose como China fue el socio comercial mas dinámico y con mayor crecimiento para Latinoamérica y como el crecimiento de las exportaciones hacia Asia pacifico aumento suscitado por esas relaciones.

Se estima que para el 2014 China desplazaría a la Unión Europea y pasaría a ser el segundo mayor mercado para las exportaciones de la región.
A pesar de los beneficios esenciales que suponen la presencia de China en Latinoamérica, cabe reiterar que no todo ha sido positivo ni ha estado exento de la especulaciones y críticas políticas, una de los primeros impactos negativos ante la presencia China en la región tiene que ver con el hecho de que los productos de manufactura chinos sean de bajo precio beneficia positivamente al consumidor latinoamericano pero también daña la producción local de aquellos productos que compiten directamente con la nación Nipona .
Esto es tema de preocupación entre el sector de las manufactureras en países Centro América y México quienes ven en China un competidor difícil de igualar por sus bajos costos en mano de obra humana y de fabricación, particularmente en la Republica Dominica se ha sentido el impacto que ha conllevado esta situación con el cierre y el traslado de muchas compañías manufactureras para abaratar costo hacia China.
Por otra parte la esperada IED China no ha alcanzado, ni siquiera se ha acercado a los niveles prometidos, lo cual es un freno para la consolidación de esta relación .Por el lado de la producción, China cuenta con una diversidad de productos con los cuales exportar e invadir los mercados latinoamericanos, mientras que Latinoamérica solo cuenta con una serie limitada de productos y se enfoca más en la exportación de recursos naturales productos Comodities y esto representa una desventaja desde el punto de vista competitivo, ya que se importa más de china de lo que se está exportando.
La naturaleza de las relaciones comerciales entre China y Latinoamérica no permite a este último aspirar a una real transferencia de tecnologías que le permitan salir de la senda de ser un proveedor neto de materias primas con los vaivenes de precios incluido en esto.
Unos de los mayores retos que se le presenta a Latinoamérica en la pretensión de conseguir mayores oportunidades y relaciones comerciales con China es la necesidad de impulsar y propinar la diversificación de las exportaciones mediante una mejora de la infraestructura y la promoción de incentivos que susciten esta diversificación y mas que limitarnos como hasta ahora a exportaciones de materia prima incursionar también en la exportación de bienes manufacturados a través de cadenas de valor e innovaciones tecnológicas para dinamizar la inversión extranjera directa en la región IED y poder lograr alianzas empresariales mas estratégicas con China.
Finalmente, ante la crisis financiera global y el profundo cambio del sistema internacional, China y América Latina han fortalecido la relación y cooperación en el comercio internacional. China, Brasil, México y Argentina son grandes países emergentes en vías de desarrollo, que juegan un papel importante en el desarrollo de estas relaciones estratégicas y del avance que han tenido en los últimos años.

Los intereses creados por parte de los gobiernos Latinoamericanos hacia la entrada de China como la gran potencia ascendente en la región y el impedimento de esta de estar a la altura de estas han enfriado el entusiasmo inicial con el que se percibía la llegada de este gigante asiático a la región. Esto último constituye, sin duda alguna, el obstáculo más grande para la construcción y consolidación de una relación más estratégica que consiga desalinear el foco de los países latinoamericanos de las potencias tradicionales.
China y Latinoamérica han reforzado los contactos e intercambios, coordinando las posiciones de los países en vías de desarrollo y salvaguardado sus intereses. La cooperación china-latinoamericana está pasando del nivel bilateral al multilateral, y del regional al mundial.

Conclusiones

La crisis en la que se encuentra sumergida Europa y los EE.UU ha tenido el efecto contrario en China, la cual ha salido fortalecida de ella no solo en su sistema productivo, sino también en el tecnológico o el financiero.
Hay que destacar la eliminación de ciertos aranceles para ciertos países (englobados en la ASEAN) lo que supone una pérdida de competitividad de ciertos países latinoamericanos en cuanto a las exportaciones debido a que estos últimos no se podrán beneficiar de estas desgravaciones.
El aumento considerable del consumo interno de materias primas tales como alimentos, energía, minerales, etc. en China ha hecho que países latinoamericanos tales como Brasil, Chile o Argentina salgan beneficiados con lo que aumentan su crecimiento.4: El mercado chino, debido a que es un país con una población de más de 1000 millones de personas, hace que se abra un gran abanico de oportunidades para poder suscribir acuerdos de exportación e inversión en campos tan diversos como la agricultura, minería o tecnología. Con esta perspectiva de futuro los países de América Latina y Caribe no deben dejar escapar esta oportunidad, que podría resultar muy ventajosa para sus economías.
Uno de los problemas a los que se enfrentan las economías latinoamericanas es el tipo de relación entre estos países y China, es decir, principalmente los intercambios son productos manufacturados (China) por materias primas (Latinoamérica) con lo que se reducen considerablemente las posibilidades de inversiones futuras. Para poder cambiar esto se debería tender a una diversificación mayor del comercio.
Para poder incorporarse a las cadenas de valor que se están gestando en Asia en torno a China, los países latinoamericanos y caribeños deberían crear asociaciones estratégicas para así estimular las inversiones Chinas en sus países y las inversiones regionales en China.
Otro punto importante sería favorecer las inversiones de la banca, empresas y Gobierno chino en sus países, mediante un programa de iniciativas que favorecieran inversiones en terrenos tan importantes como las infraestructuras o energía.
En este momento las relaciones entre los países latinoamericanos y caribeños con China están creciendo, pero para dar un salto cualitativo y de madurez se debería diversificar más las ventas a China con lo que se incorporaría más valor y conocimientos a estos productos, así como mejorar las alianzas empresariales, comerciales y tecnológicas. Además un punto importante también sería dotar de una mayor relevancia las relaciones entre universidades y centros tecnológicos.
América Latina y el Caribe deberían dar una respuesta al Libro Blanco mediante una coordinación regional conjunta que favoreciera en un futuro concretar una Cumbre de Jefes de Estado China-América Latina para así favorecer la inversión y diversificar el comercio con este país.

En conclusión podríamos decir que para que realmente se lleve a cabo una verdadera relación estratégica entre China con Latinoamérica y El Caribe, Latinoamérica tiene que pasar de ser un simple proveedor de materias primas para convertirse en un verdadero socio estratégico y consolidar una alianza que favorezca a ambas regiones. Se debe velar por una relación que estimule el progreso, la inversión de capital, la diversificación y la innovación tecnológica.

Indicar cualquier perspectiva prospectiva adicional con respecto a la republica Dominicana.

Algo que me llamo mucho la atención es que la Republica Dominicana de casi todos los países de Latinoamérica es uno de los pocos a los que China no ha destinado IED y donde el comercio, las exportaciones e importaciones no son significativas, esto básicamente se debe a que ambos países no mantienen relaciones diplomáticas. Lo que hace que sea más difícil una relación comercial entre ellos, otra de los factores que enfrenta la relación comercial entre China y República Dominicana es que muchos productos llegan vía Panamá por la falta de logística para que esos productos lleguen directamente al país.
En América Latina varios países obtienen beneficios, con una balanza comercial favorable cada año por sus relaciones completas con esta potencia económica mundial, podemos citar a países como Chile y Brasil sostienen negocios sobre los 20,000 millones de dólares anuales mientras que los negocios entre China y Republica Dominicana no sobrepasan los 800 millones de dólares.
Según el artículo la Republica Dominicana exporto a China, ferroaleaciones, chatarras. En cambio los productos que la República Dominicana importa desde China son máquinas, herramientas, utensilios de metal, automóviles, motocicletas, textiles, juguetes y útiles escolares lo cual hace que la balanza comercial no esté equilibrada y que el número de importaciones sea mayor al número de exportaciones.
No podemos darnos el lujo de quedarnos rezagados en la relación comercial con un mercado que es inmenso y sigue creciendo. La tarea del Gobierno es colosal, se debe propinar en el país un ambiente que fomente la inversión y facilite las relaciones entre ambos países, pero falta mayor voluntad política para lograrlo.…...

Similar Documents

Free Essay

China

...How did Deng’s policies lead to a phenomenal growth of the Chinese economy? China began the 20th century with a serious effort to modernize its economy and ended the century with a successful economic modernization. Since the early 1980s, China ranks among the world’s fastest growing economies. Using standards of measurement of the gross domestic product (GDP) based on purchasing power parity, the IMF ranks China’s economy a close third, after only the United States and Russia (Soled, 1993).   In 1978, Deng Xiaoping took over the control of the communist party and abandoned the Maoist economic model. Deng Xiaoping is widely regarded as one of the most undisputed leader of all times. He initiated the transformation of the planned economy towards more market-oriented economy and decided to open China up to free market economic reforms and Western style capitalism (Chow, 2001).  These reforms were a reversal of the Maoist policy of economic self-reliance. Successful economic development in other parts of Asia including Taiwan, Hong Kong, Singapore and South Korea, known as the four Tigers, demonstrated to the Chinese government officials and the Chinese people that a market economy works better than a planned economy (Soled, 1993). Deng realized that China needed Western technology and investment, and opened the door to foreign businesses who wanted to set up in China (Chow, 2001). China decided to accelerate the modernization process by stepping up the volume of foreign......

Words: 1105 - Pages: 5

Premium Essay

China

...A study on China and the World Economy of Today: A look at the impact of China’s Global economic integration and Prices. Chapter one: Introduction 1.1 Introduction Since 1978, the People’s Republic of China (PRC) government has stood out in restructuring its economy from a Soviet-style centrally planned economy towards a market-oriented economy nonetheless within the political framework, provided by the Communist Party of China. This system has been called "Socialism with Chinese characteristics" and is one type of mixed economy. “These reforms started since 1978 has helped lift millions of people out of poverty, bringing the poverty rate down from 53% of population in 1981 to 8% by 2001” (OECD 2002a). Over the preceding decades, the existence of China in the world’s economy is full-fledged. Laterally, China is properly or erroneously seen to have a massive impact on the world’s economy. In today’s trade market, China is at present generally regarded to be the world’s workspace, there-by relocating some traditional exporters of labor-intensive goods, irrespective of the fact that its economy is constantly woven into the fabric of progressive split chain of making (Menzie D.2009). The emergence of China as an industrial and export livewire is undoubtedly one of the most significant forces reshaping the present-day world economy. Barry E and Hui T in 2005 stated that “A now standard way of conveying this point is to observe that the increase in......

Words: 7044 - Pages: 29

Free Essay

China

...Curt Palmer Concepts: Chinese companies have invested $280 million and created more than 1,200 jobs in South Carolina alone. Today some 33 American states, ports, and municipalities have sent representatives like Ling to China to lure jobs once lost to China back to the U.S.: Besides affordable land and reliable power, states and cities are offering tax credits and other incentives to woo Chinese manufacturers. Beijing, meanwhile, which has mandated that Chinese companies globalize by expanding to key markets around the world, is chipping in by offering to finance up to 30% of the initial investment costs, according to Chinese business sources. They like the strategic location of our region, the convenient access to materials coming in mostly scrap metal and pig iron and the ability to export to North and South America through the port of Corpus Christi," he says. There are other incentives. On April 9 the U.S. Commerce Department imposed import duties of up to 99% on the type of seamless pipe that is to be manufactured by Tianjin Pipe a reprisal prompted by the United Steelworkers union. The Chinese company, the world's largest maker of steel pipe, had said it could not afford to export to the U.S. if tariffs were over 20%. Now its pipe will be made in America. "It's just another reason they have to have a U.S.-based production facility," says Johnston. Even without tariffs, Tianjin had been looking to expand as are many Chinese companies once they reach about $100......

Words: 1000 - Pages: 4

Free Essay

China

...hardship, and the Chinese economy is set to surpass the U.S.’s before the end of this decade, China looms very large on the horizon. A U.S. intelligence report stated that China's economy is likely to surpass the U.S. in less than two decades while Asia will overtake North America and Europe combined in global power by 2030. Modern China’s rise to world economic power, like its predecessor from 1100 to 1800, is based on its enormous productive capacity. China’s rush to economic development is beautifully depicted in the documentary, “Last Train Home.” Trade and investment was governed by a policy of strict noninterference in the internal relations of its trading partners. Unlike the U.S., China did not initiate brutal wars for oil; instead it signed lucrative contracts. Also, China does not fight wars in the interest of overseas Chinese, as the U.S. has done in the Middle East for Israel. China’s sustained growth in its manufacturing sector was a result of highly concentrated public investments, high profits, technological innovations, and a protected domestic market. While foreign capital profited, it was always within the framework of the Chinese state’s priorities and regulations. The regime’s dynamic export strategy led to huge trade surpluses, which eventually made China one of the world’s largest creditors, especially for U.S. debt. In order to maintain its dynamic industries, China has acquired huge inflows of raw materials, resulting in large scale overseas......

Words: 1357 - Pages: 6

Premium Essay

It to China

...outsourcing information technology to China. It will take a look at the benefits, challenges and risks faced when a company makes the decision to outsource their information technology functions to China. As globalization accelerates and competition intensifies, outsourcing has become a strategic solution for many corporations and governments around the world. More companies are outsourcing their goods and services to other countries. It has become a way for many companies to gain cost savings, increase productivity by outsourcing their information technology goods and services. Outsourcing of information technology services is one area that companies are taking more and more advantage of. Companies that outsource see increase productivity and quality improvement in their information technology services. China is starting to make advancements in their information technology outsourcing services, in the goal of one day being the number leader in this outsourcing area. Outsourcing Information Technology to China The world of outsourcing continues to grow with different goods and services being sent to other countries. Outsourcing of goods and services has been around for some time now. According to Patterson, Gott & King (2011), “IT and BPO offshoring are early manifestations of a larger trend that, in the long run, means that more functions can and will be located outside the countries where end-customers reside” (p. 5). “China has long been the world’s......

Words: 2560 - Pages: 11

Premium Essay

China

...How far can the establishment of the People’s Republic of China in 1949 be considered the key turning point in the development of China in the years 1900-2000? During the years 1900-2000 there were many turning points in China's history. We saw such things as The fall of the Qing Dynasty and imperialism February 1912, The warlord era 1915, The rise of the nationalists 1928, The formation of the PRC in 1949, The Korean and Vietnam wars 1950 and 1964, Nixon's visit in 1972 and Deng Xiaoping's Third Plenum. The key Turing point in China's history would have to be the rise of Deng Xiaoping in 1976. The reason behind this is by looking at social political, economic and international development Deng achieved greater positive development over the 4 topics and few limitations in comparison to the other turning points. The fall of imperialism and the Qing dynasty in 1912 lead to some major development in China.in china at the time there was a huge social divide. This was most notable in the rural regions where in some communities some people were consuming up to 4000 calories per day, while others were only consuming 1400. Likewise socially development in china was far behind the rest of the world. At the time China had a literacy rate of only 3.6% while Japan had a rate of 26.3% however, during the Qing dynasty economically they were prospering and catching up with the rest of Asia. This was best shown by jack Gary’s Rebellions and revolutions where he puts a more positive......

Words: 2073 - Pages: 9

Premium Essay

China

...------------------------------------------------- Generations of Chinese leadership From Wikipedia, the free encyclopedia People's Republic of China | | This article is part of the series: Politics and government of China | Ideology[show] | Constitution[show] | Communist Party[show] | Legislature[show] | Executive[show] | United Front[show] | Military[show] | Judiciary[show] | Propaganda[show] | Law[show] | Other issues[show] | * Other countries  * Atlas Politics portal | * v  * t  * e | | This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2013) | Generations of Chinese leadership | Simplified Chinese | 中国共产党领导集体 | Traditional Chinese | 中國共産黨領導集體 | Literal meaning | Leadership collectives of the Communist Party of China | [show]Transcriptions | | Because both the Communist Party of China and the People's Liberation Army promote according to seniority, it is possible to discern distinctgenerations of Chinese leadership.[1] In official discourse, each group of leadership is identified with a distinct extension of the ideology of the party. Historians have studied various periods in the development of the government of the People's Republic of China by reference to these "generations". Contents   [hide]  * 1 Terminology * 2 First generation * 3 Second......

Words: 2748 - Pages: 11

Premium Essay

China

...CHINA • Official name: People’s Republic of China • Capital: Beijing • Currency: Renminbi • Population: 1.35 billion • Government: Communist • Language: Mandarin HISTORY • Third largest country in the world in terms of area and population • Official Name: People’s Republic of China (Zhonghua Renmin Gongheguo) • Republic was established in 1949 • The name CHINA is probably derived from the Qin (Ch’in) dynasty (206-221 BC) which first unified the nation • Chinese used the name Zhonggua (Chung-kuo) which means middle country with their belief that China is in the middle of the world • China is divided into 23 provinces and 5 autonomous regions • China’s written history began during the Shang Dynasty • In 1921. the long civil war between the ruling nationalists or Kuomintang, led by the Chiang Kaishek, and the communists led by Mao Zedong (Mao Tse –Tung) RELEVANT FACTS • One in every five people in the world is Chinese. China’s population is estimated to reach a whopping 1,338,612,968 by July 2009. China’s population is four times that of the United States. • Red symbolizes happiness for the Chinese and is commonly used at Chinese festivals and other happy occasions such as birthdays and weddings • China’s “one child” policy has contributed to female infanticide and has created a significant gender imbalance. There are currently 32 million more boys than girls in China. In the future, tens of millions of men will be unable to find wives,......

Words: 913 - Pages: 4

Premium Essay

China

...Reasons why China is unique: 1. Population: The population of China is 1,321,290,000 and it is the most populated country in planet earth followed by India. 2. Due to this high population the People’s Republic of China is the only country that has introduced the one child policy to control the high amount of births. The policy allows many exceptions: rural families can have a second child if the first child is a girl or is disabled, and ethnic minorities are exempt. 3. China is the great economic success story of the past decade 4. Adapting to its rise will pose a challenge to the political, economic and even moral bases of the current international order. It will have an impact on the security architecture of Asia and the Far East, the so called China Effect. 5. Chinese growth is built on a unique but unsustainable model- impossible high levels of export growth largely driven by assembling half- completed imported goods, state driven capital accumulation and cheap labor with very low productivity, little technical innovation and the absence of an appropriate business culture or legal structure. 6. World’s largest exporter: China's exports rose at an annual rate of 7.9% in 2013, while imports grew 7.3%. 7. In 2012 83 million mainland Chinese spent $102 billion abroad overtaking Americans and Germans -making them the world’s biggest tourism spenders according to UN World Tourism Organization. Reasons why China is unusual: 1. Despite a phenomenal......

Words: 409 - Pages: 2

Premium Essay

China

...Lawrance, Alan. China Under Communism. London: Routledge, 1998. Internet resource. This text examines how Marxism took root, flourished and developed within the context of an ancient Chinese civilization. Through analysis of China's history and traditional culture, the author explores the nature of Chinese Communism and how it has diverged from the Soviet model. This book also provides insight into the changing perceptions Westerners have of the Chinese, and vice versa. Features include: assessment of controversial issues - The Great Leap Forward, the Cultural Revolution and Mao's record; coverage of gender and family, ethnicity, nationalism, and popular culture; and the long historical context. This evaluation details how China's political and economic policies have been inextricably linked, and assesses past failures and successes, as well as major problems for the future. White, Stephen. Communism and Its Collapse. London: Routledge, 2001. Internet resource. Ranging from the Russian revolution of 1917 to the collapse of Eastern Europe in the 1980s this study examines Communist rule. By focusing primarily on the USSR and Eastern Europe Stephen White covers the major topics and issues affecting these countries, including: * communism as a doctrine * the evolution of Communist rule * the challenges to Soviet authority in Hungary and Yugoslavia * the emerging economic fragility of the 1960s * the complex process of collapse in the 1980s.  Huibing, Zhao, and Zhu Jiangnan.......

Words: 859 - Pages: 4

Free Essay

China

...Leonard Bilal Blacklock AC0325687 World Civilizations I (HS150) Lesson 6 Assignment 6 03/04/2015 Sui Dynasty (589 – 618 CE) was a short lived Imperial Chinese dynasty, preceded by the Southern and Northern Dynasties. It unified China for the first time after nearly four centuries of north-south division. It was followed by the Tang Dynasty. Founded by Emperor Wen of Sui, the capital was Chang’an. His reign saw the reunification of Southern and Northern China and the construction of the Grand Canal, connecting the Yellow and Yangtze River for easy trading. The canal was used to carry rice and other agricultural products. Wendi was the first emperor to build a centralized government, created legal codes (social security); Buddhism was also spread and encouraged throughout the empire, uniting varied peoples and cultures of China.(Refer to pages 277; Wikipedia,2015). The Sui dynasty which reunified China after nearly four centuries of political fragmentation during which the north and south had developed in different ways, played a part far more important than its short span would suggest. In the same way that the Qin rulers of the 3rd century BC had unified China after the Zhanguo (Warring States) period, so the Sui brought China together again and set up many institutions that were to be adopted by their successors, the Tang. Like the Qin, however, the Sui overstrained their resources and fell. And also as in the case of the Qin, traditional history has judged......

Words: 667 - Pages: 3

Premium Essay

China

...and appreciated. Make sure you know the meaning and appropriate occasions for what you say. You may make general inquiries about the health of another's family, such as 'are all in your family well?' During a meal, expressing enthusiasm about the food you are eating is a welcome, and usually expected, topic of conversation. There is no need to avoid mentioning Taiwan. If the subject comes up, never refer to this island as 'The Republic of China' or 'Nationalist China.' The correct term is 'Taiwan Province', or just 'Taiwan.' 'Small talk' is considered especially important at the beginning of a meeting; any of the topics suggested in the next set of points will be appropriate for this occasion. Welcome Topics of Conversation Chinese scenery, landmarks weather, climate, and geography in China your travels in other countries your positive experiences traveling in China Chinese art Topics to Avoid Refrain from using the terms such as 'Red China', 'Mainland China,' and 'Communist China.' Just say 'China.' First Name or Title? Addressing others with respect Chinese names appear in a different order than Western names. Each person has, in this order, a family, generational, and first name. Generational and given names can be separated by a space or a hyphen, but are frequently written as one word. The generational designation is usually the first word of a two-worded first name. This is still popular in some families, especially among the......

Words: 4157 - Pages: 17

Premium Essay

China

...2. Dealing with China: An Insider Unmasks the New Economic Superpower As President George W.Bush’s Treasury secretary from July 2006 through January 2009, Henry Paulson was the president’s leading policy adviser on both domestic and international issues. He is well know to the world at the time of the financial crisis in US. Henry Paulson has made over 100 trips to China and developed intimate relationships with China’s political elite, including Presidents Hu Jintao and Xi Jinging as well as its banking giants, most notably the industrial and Commercial Bank of China’s chairman Jiang Jianqing. Therefore, he has a depth knowledge about China’s economy and still been watching China’s emerging economy until now. In his new book, he describes China’s recent rise to global supremacy and the challenges that lie ahead. He also points out that China is American’s most important economic partner and that how to corporate intelligently to make both nations benefit in the future. In the United States, banks and capital markets are more stable and better capitalized than they were in the financial crisis 2008. As changing in government regulators and American banking system, US still the largest and richest economy, with a normal GDP more than twice the size of China. But according to Paulson, he warns “It’s not a question of it, but when, China’s financial system, particularly the trust companies, will face a reckoning and have to content with a wave of credit losses and debt......

Words: 1151 - Pages: 5

Free Essay

China

... China’s economy China is no longer command economy. Well, actually, they are not a command economy that you are thinking of. They are still socially controlling, but economically free to a certain extent. The biggest changes that they had in 1990’s are that they have released majority of sectors to enterprises. They no longer own those sectors, but they regulate them heavily. In a way, we regulate heavily as well. However, the biggest difference is that their government actually goes out there to secure resources to allow their domestic enterprises to grow and to create demand from oversea investors. They still exist to a large extent as collective farms or what have you most have reverted to peasant collectives etc. Not very profitable, or efficient , but numerous enough to say that it will be China's undoing, if they don't regulate and foster good farming among the subsistence farming, bad practices could lead to massive starvation as the farms suffer from poor water use, erosion etc.  What happened under Mao, he argues that China became a market based economy by the end of the 90’s and before joining the World Trade Organization (Ronald Coase and Ning Wang). He let capitalism alone and what had been the black market flourished into a rather pure form of capitalism. It's also important to understand that they started out with an incredibly small capitalist marketplace, in some of the East Coast cities of China. In the late 1970's the GDP of China was equivalent to......

Words: 697 - Pages: 3

Premium Essay

China

...China (traditional Chinese: 中國; simplified Chinese: 中国) is a cultural region, an ancient civilization, and a nation in East Asia. The last Chinese Civil War has resulted in two nations: The People's Republic of China (PRC), commonly known as China, has control over mainland China and the largely self-governing territories of Hong Kong (since 1997) and Macau (since 1999). The Republic of China (ROC), commonly known as Taiwan, has control over the islands of Taiwan, Penghu, Kinmen, and Matsu. China has one of the world's oldest civilizations and has the oldest continuous civilization.[1] It has archaeological evidence over 5,000 years old. It also has one of the world's oldest writing systems, and is viewed as the source of many major inventions. The first recorded use of the word "China" is dated 1555.[nb 1][3] It is derived from Cin, a Persian name for China popularized in Europe by Marco Polo. History of China Ancient China was one of the first civilizations. Chinese civilization was also one of the few to invent writing,[2] the others being Mesopotamia, the Indus Valley civilization, the Maya civilization, the Minoan civilization of ancient Greece, and Ancient Egypt.[5] It reached its golden age during the Tang Dynasty (about A.D. 10th century). China is home to some of the oldest artwork in the world. Statues and pottery, as well as decorations made of jade, are some classic examples. China's economy and military weakened during the Qing Dynasty (around the......

Words: 1102 - Pages: 5