Posted: Fri Dec 09, 2005 7:53 am Post subject: What Does China's Rise Mean To America?
I have been doing a lot of reading lately about China, and what their rise exactly means to America. If China continues to grow at the speed they are they will over power the United States before the end of this century. Although I do believe that China will over power the United States some time in the foreseeable future, I do not think things will continue to grow the same way they are. China has had a good few years, but you can't seriously think China is going to have 10% GDP annual growth rates every year for such a long period of time. Well anyway that is besides the point the topic of this thread is what China's rise means to America.
Although China is going to over power the United States, and make many Americans lose their job, I think we should take the following into account.
China is the world’s second largest economy in real terms and a vast and growing market for U.S. products and services.
-- While global growth slowed to under 2 percent over the last three years, China’s economy expanded by more than 8 percent.
-- The rising incomes of China’s nearly 1.3 billion consumers have fueled strong demand for U.S. farm products, manufactured goods and technical services.
• Between 2000 and 2003, U.S. exports to China grew 76 percent, while sales to the rest of the world declined by 9 percent.
-- China is now the sixth largest market for U.S. exports and America’s third largest trading partner overall – surpassing Japan in 2003.
Benefiting American Exporters
• Growing U.S. sales to China are benefiting American companies, farmers and workers.
• In 2003, the United States exported nearly $5 billion in agricultural goods to China – an increase of more than 140 percent over 2002.
-- Soybean sales hit an all time high of nearly $2.9 billion, and cotton exports reached a record of nearly $740 million.
-- Strong sales of these and other products contributed to a $3.7 billion U.S. agricultural trade surplus with China.
• China is among the fastest growing major overseas markets for U.S. manufactured goods.
-- U.S. exports of computers, electrical equipment and other electronic products to China increased by 20 percent between 2002 and 2003, topping $7 billion.
-- Chemicals exports grew 24 percent to $3.7 billion over the same period.
• Strong U.S. exports of transportation and education services contributed to a $2 billion U.S. services trade surplus with China in 2002.
• The United States is working to increase U.S. exports and further open China's market to American goods and services by ensuring that China implements its WTO commitments faithfully and promptly.
• Through a variety of mechanisms, including WTO action, the United States is pressing China to ensure that U.S. firms are not subject to discriminatory taxation, that American intellectual property rights are protected, that market access commitments in areas such as financial services and agriculture are fully met, that China's trading regime operates transparently, and that promises to grant trading and distribution rights are implemented fully and on time.
There is enough room for two Super Powers in this world, and China becoming powerful just makes America more powerful. Although America may become #2, our goal should not be to win the #1 position on a list, but make our country as successful as possible, and it just so happens that China replacing us as #1 will make Americans money, and although China will be making more money, it doesn't matter as long as we made our country a better place.
My original fear was that China would eventually try and take over the world once they had enough power, but I think as people in China become wealthier, they will become more educated, and as a result Communism will eventually fail.
Also I would be lying if I said I am not looking forward to making a personal profit off of China's success, and I am sure millions of other Americans are too.
China's success does not have to be a bad thing, and although many Americans will lose jobs; many Americans will also gain jobs. I would estimate that most likely more jobs would be lost than gained for America, however overall our economy should be stronger than where it is today. For the Americans that invest wisely, do well in school, and work hard, China's success will be their success, but for the workers in society, excluding the ones that are in high-level positions, China's success may not be the best for their future.
Any comments on what you think China's success means to America?
li
LeopardPM
Posted: Fri Dec 09, 2005 8:03 am Post subject:
China's rise in wealth should not negatively impact America, because the United States will allways be one of the most powerful nations economically, and they support the growth and expansion of any large Capitalist nation as someone would a business partner.
比如 “Why do you use the term 'over powering' in respect to China's growth as compared to the US? You make it sound like a competition when it is nothing of the sort. Like every contry (or person) the only thing we compete against is ourselves. The improvement of one person (or country) is NOT at the expense of another, as long as force is not used.”我英语不好，不过试着翻译一下这段，欢迎指正。
Posted: Sat Jan 14, 2006 2:13 pm Post subject: hmmm....
I would have to say the rise of China will be good for the U.S., and this is because I think that advancement in Asia will help north america.
ozzy_g
Posted: Tue Jan 17, 2006 6:50 am Post subject:
I think it will be good for them economically in the long term, but not the short term, as America will lose jobs to them, and the currency rates and America's massive BOP deficit are hurting your economy.
Politically... its an entirely different kettle of fish.
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Posted: Fri Dec 09, 2005 7:53 am Post subject: What Does China's Rise Mean To America?
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