Is China a Threat to the U.S. Economy?

Paper Summary:

The paper discusses how many people feel threatened by the rapid growth of China's economy. Some are concerned that China's large population of low-cost workers will eventually damage the United States' economy. Many worry that China's inexpensive goods will cause trade problems. Despite these concerns, the paper notes that China's growing and evolving market actually presents opportunities for the U.S. economy. The paper explains that China's rapid economic growth has helped improve the world's economy and the U.S. is strong enough to compete with the Chinese companies. The paper adds that Americans stand to benefit by learning from current Chinese values: a hardworking attitude, entrepreneurship, ambition and problem-solving abilities.

From the Paper:

"China's fast economic growth, foreign direct investment, and large share in foreign trade markets confirm that China is indeed a rising economic power (Lardy, 2002). For this reason, many Americans are quick to blame China for a loss of jobs in the U.S. and for the increasing bilateral trade deficit that the United States has with China. However, it is also important to consider China as the fastest-growing large U.S. export market and see the opportunities rather than just the threats."

Sample of Sources Used:

• Kurlantzick, J. (September, 2003). Are Chinese Companies a Threat to Your Small Business? Entrepreneur.
• Lardy, Nicholas. (2002). The Economic Rise of China: Threat or Opportunity? Federal Reserve Bank of Cleveland.
• Nolan P. (2004). Transforming China Globalization, Transition and Development. Anthem Press.
• People's Daily Online. (August, 2005). China: Is it a threat, or an opportunity? http://english.people.com.cn/200508/23/eng20050823_204164.html.

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