`China`s impact on the world economy 2000-2025`

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China`s impact on the world economy 2000-2025

Overwhelmingly , China is in rapid economic growth . Its Tiger Economy went berserk . Considerably , having one-fifth of the world 's population or doubled the United States , Europe , Japan and other high earning nations (Perkins 1 . Now , China has become a middle income nation (Perkins 1 . From a slumbering second world country now has been a threat to become a first world country . In 2004 , the official exchange rate of China was 1 ,300

USD Gross Domestic Product per capita and 1 ,690 Billion USD as the that it will still rise in an exponential way since the trend follows a seven percent increase and the by 2015 the per capita GDP will be doubled and in 2025 it will be increase again twice of 2015 (Perkins 2 As long as the exports are running great , the China 's uprising can never be an upset . With this uprising , the demand for scarce resources around the world would be high not only for China but for the rest of the world since it is a competition in acquiring resources . Even if China conserve it would not be sufficient for the welfare of other nations (Perkins China as we all know , has limited resources (Perkins 2 . And once they have emptied their warehouses , they need to find other suppliers and basically it comes from imports . Imports from other nations provide China of the resources they need . There would be an increase in demand for resources that are mainly imports (Perkins 2 . With that , China is interdependent to other nations . And this dependency to other nations is being a determinant of their speed to develop . The Chinese Industry is aiming to increase the technological contents of their products (Xinxua 1 . With it , the other nations who are technologically advanced are threatened for competition . The cheap goods that China produces serves well the world market hence it is also profitable . There are terms laid out by the World Trade Organization since the emergence of China (Xinxua 1 . The condition is mainly concerned on the preservation of global multilateral trading since China can hoard their own exports and for a larger exchange on imports . The WTO is preventing China from protectionism because there are also other nations dependent from their exports such as the European Union . The European Union and China has been in free trade for quite some time and EU does not want lose this advantage . Among all of the international issues pressuring China , there is also pressure building within their country . Since there is a desire to maintain the seven to eight percent economic growth rate of China the Chinese government is willing and able to monopolize that political and economic power to neglect the idea of being democratic and also avoid the decentralization of power (Lockwood 1 . The pressure within the Chinese community is highly political hence the problem is to sustain the country 's...