China- A Threat to U.S.

China- A Threat to U.S.

China- A Threat to U.S.

Introduction

The substantial growth of China, from a stagnant non-performing nation to an economic giant in a time span of just twenty eight years, has been undoubtedly phenomenal. It has proved the general observation wrong, that no country that once declined would rise again. China has emerged as the most powerful economy of the twenty-first century; in fact the second-largest of the world. This success had not been achieved overnight. China had faced its share of extreme social and political pressures and problems, and after going through decades of misery, it has finally emerged to be an influential country; one that is being compared to even the giant super power- the United States. Now the growth is reaching an enormous extent and China is all set to substitute the U.S. as the driver of global economy. While the US has been growing as the world's largest deficit burden, China has been running with the world's greatest budget surplus. This has posed some potentially serious threats to the U.S. economy, to say the least. It is about time the U.S. not be ignorant of the Chinese intentions and revise policies for future course of action (Randall, 2007).

Discussion

Just as the 1900s was referred to as the “American Century”, the twenty first century is turning out to be the century of China. The United States became the premier economic producer, the dominant political force, and the cultural center of the world-system. But now it no longer enjoys this place in seclusion. China has emerged and has become a competitor to the U.S. in all these domains. Powers have greatly been shifted as China made a presence on the economic, political, social and cultural platforms and made remarkable improvement in terms of its governmental policies and outlooks (Randall, 2007).

There have been much debate going on internationally about who is going to defeat the other- the U.S. or China? While Chinese progress is evident of its strong future and stable economy, it can still not be sure if it is significant enough to cause problems for the U.S. although currently China may not be fully overshadowing the U.S., it surely is being a competitor. And one should be vigilant from its competition. That is what the U.S. has to do (Randall, 2007).

Economic progress of a nation cannot be assessed by its history. If that was the case, China could have never been reformed and the sufferings that occurred before 1978 would have continued. But surely a nation's productivity and results are measured by its resources and the utilization of those resources. Let us see briefly what advantages China is enjoying in the global marketplace in terms of its political, social and economic systems:

China has developed a very balanced manufacturing sector for itself, one that is giving competitive pressures to almost every other economy.

The state machinery of China is effectively being employed for its ...