Does China threaten U.S. global economic dominance Research Paper

Does china threaten U.S. global stinting potentiality - query Paper ExampleSome reports even said that China, as one of the E7 emerging economies are project to go beyond the G7 countries around 2032iii. But a lot of things could happen before 2030. Take the spokesperson of Japan who almost unseat the U.S. in 1980s, but speculations on this did not materialize due to profligate trade surplus similar to what China is in right now. What stands on the way of China for turn number one, and being the worlds economic power? Let us take a look at the important demographics. Although Chinas population today is 1,336,718,015, four times large than the United States, its prime working age population of 20 to 35 years old bear on to shrink because of its one child policy iv. Also, the vast majority of the population living in the boorish areas is either very old or very young. Due to the large number of population, the huge terms of growth is expected to go up as demands for everythi ng continues to go up. While it seems that China ranks close to U.S. in terms of gross domesticated product, it cannot be said that it is a dominant power. It as well as shows that China is not necessarily richer, still bigger. In 2009, China has $9.872 trillion GDP while US has $14.72 trillion. In comparison, China has a GDP per capita of $7,400 and ranks 127th in the world, and it is dwarfed by the U.S. GDP per capita of $47,400, and is ranked as 10th in the world v. ... nges that should preoccupy the organization aside from staking a claim of economic global dominance, such as (a) reducing its high domestic savings rate and correspondingly low domestic demand (b) sustaining adequate job growth for tens of millions of migrants and fresh entrants to the work force (c) reducing corruption and other economic crimes and (d) containing environmental damage and social discord related to the economys rapid transformation vii. It has been noted that development oddments in the coasta l provinces rather than in the midland so much so that addressing the needs of 200 million rural laborers and dependents that welcome relocated to urban areas to find work is one of its problems Economic analysts view the Chinas economic global dominance differently. Hugh Hendry,viii an economic adviser, argues that investors should not worry too much on the fallacy of Chinas economic dominance. He said this will not happen because China, despite being the worlds largest creditor is also running a consistent trade surplus... It is recalled that this is the same scenario that devastated US in 1920s and Japan in 1980s so that investors are warned of the occurrence of same incident to China. There is no doubt that Chinas exports have remained strong amid the difficulties of the global economy. In 2010, Chinas exports grew to $1.506 trillion, as compared to its 2009 exports of $1.204 trillion and have further widened the trade surplus with U.S. by 46% to $28.7 billion. ix However, dem and for Chinese goods is projected to settle because of the slow growth of U.S. economy and debt problems in parts of Europe. 20% of Chinas products are exported to U.S., and the rest goes to Hong Kong, Japan, South Korea and Germany. China has not completely erased the