The Rise of China

Paper Summary:

This paper analyzes the impact that the rise of China has had on the process of economic globalization. It first discusses the current situation of the Chinese economy and then looks at the reactions other international actors, such as the US and the European Union have had to the economic boom of China. Lastly, the paper discusses the implications and prospects China's evolution would have for the international scene.

From the Paper:

"The future evolution of the Chinese model of development in the context of the globalized economy is however hard to ascertain. It depends on various factors. On the one hand, the political dimension plays an essential part, taking into account the planned economic system present in China and the central role communist politics, despite its slightly reformed nature, has on the decisions taken in relation to the economic practices. Secondly, there is the matter of the oversaturation of the markets, both internal and international ones. The internal market benefits from 1.3 billion consumers who are rather committed to their indigenous production. However, if Chinese markets do open to foreign trade, as stipulated in the WTO guidelines China should obey, the population may change its choice and prefer Western goods as well. The international markets in their turn do not have the purchase power to draw the immense production of the Chinese labor force, and to some degree, may even refuse to do so, taking into account the inferior quality of some of the Chinese products. Finally, a matter worth considering is the issue of the supply of energy and other natural resources which China is dependent on. Seeing the recent oil crises and the decisions taken at the highest levels to limit energy supplies, the means through which China will be able to procure energy will be of considerable importance in its future economic evolution."

Sample of Sources Used:

• Bijian, Zheng. (2005) China's "Peaceful Rise" to Great-Power Status. Foreign Affairs, September/October.
• Kristof, Nicholas. (1993) The rise of China. Foreign Affairs, November/December.
• L'atlas geopolitique et culturel du Petit Robert des noms propres. (2002) Dictionnaires Le Robert. Paris.
• Last super power. (2007) The Great Reversal: the privatization of China, 1978-1989. Last Superpower.net. Accessed 16 August, 2007 from http://www.lastsuperpower.net/docs/intro2
• Lynch, David J. (2003) China: economic threat and potential market. Usa Today. Accessed 16 August, 2007 from http://www.usatoday.com/money/economy/trade/2003-11-27-china_x.htm

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