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Essay / Research Paper Abstract
A 5 page paper. The rise of China is definitely real with GDP increasing 12 fold in the last 20 years. China is very close to being the world's third largest economy. This essay offers economic data and comments about China's rise in the world market. It also comments on the shift in the balance of power in the world. Bibliography lists 6 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGchnri.RTF
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Unformatted sample text from the term paper:
"in real terms" (Venables and Yueh, 2006, p. 10). During these years, Chinas gross domestic product (GDP) has "increased twelve-fold" (Venables and Yueh, 2006, p. 10) and trade has "risen
by a factor of 30). (Venables and Yueh, 2006, p. 10). Between 2000 and 2006, direct foreign investment in China soared from $7.6 billion to $57.2 billion (Lampton, 2007). It
is forecast that in a very few years, China will become the third largest economy in the world, following only the United States and Japan (Venables and Yueh, 2006).
Between 1990 and 2002, Chinas "share of industrial output" (Lampton, 2007) increased from 2.2 percent to 6.6 percent (Lampton, 2007). In 2006, China was the third-largest importer of luxury
products (Lampton, 2007). Imports have increased to 15 percent per year (Lampton, 2007). China has changed the structure of global trade, for example, many Asian countries, such as Japan, Taiwan
and Korea who once exported most of their goods to the United States now export more to China (Lampton, 2007). Lampton (2007) reported that in 2003, China accounted for these
percentages of export growth: * 68 percent of Taiwans export growth. * 36 percent of South Koreas. * 32 percent of Japans. * 28 percent of Germanys. * 21 percent
of the United States. Trade accounts for 70 percent of Chinas GDP (Venables and Yueh, 2006). By comparison, trade accounts for 20 percent of the GDP of the United States
and 37 percent of the GDP of the United Kingdom (Venables and Yueh, 2006). Chinas trade has grown so much that it accounts for 7 percent of all exports in
the world (Venables and Yueh, 2006). Hansen (2006) said: "the competitive position of U.S. companies will increasingly depend on their business relations with China." Economic development is so strong in
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