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Economic growth in China and its impact on American economy - Essay Example
China has emerged into economic and industrial hub, the investment friendly policies of the country has accelerated the economic growth of the country. The country has abundant resources, and is rich in terms of trained and skilled labor. The availability of the cheap labor, valuation of Chinese Yuan, and the entire system of the country has captured the attention of international companies, particularly from North America and Canada…
The Golden Age of the China started soon after its amalgamation with World Trade Organization. The membership of World trade Organization has been of economic and industrial benefits for the country. Secondly, the normalization of the Communist China's diplomatic relationship with United States, have further boosted the momentum of Chinese economic activities. These two events are important because they signify the recognition of Chinese economy by United States and the world economic community as an equal partner. Since its membership, the country has become an important member of the world economic community and plays an important role in the global economy.
The partnership with WTO has increased the scope of China's market for international trade and investment, and has opened up the World economy for unrestricted China's exports. Economic analysts have viewed the so far progress positively, and considered it as a positive force for China's economic development, however others believed that the competition of foreign imports and foreign enterprises in China might destroy important domestic enterprises in China's agricultural, manufacturing and service sectors. ...