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Essay / Research Paper Abstract
A 5 page paper on the state of global economics. The writers discusses where the U.S. stands in the world of economics and the likelihood of it being able to maintain it's rank as the global economic leader. Bibliography lists 6 sources.
Page Count:
5 pages (~225 words per page)
File: D0_Woreco.rtf
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Unformatted sample text from the term paper:
grows constantly, is generally regarded as the country that would succeed the U.S. in this capacity, but recent studies have suggested that China is growing faster than any country
in the industrialized world at the present time. Economists speculate that if future growth rates continue to rise just as dramatically as they have been, China will have surpassed
Japans economy by the year 2005 and the U.S. economy by 2020. (Batterson 1) Analyst Murray Weilbaum suggests a number of scenarios for Chinas economic domination in
the coming century. In the first scenario Weilbaum sees China completing its move towards a market-based economy, and privately run businesses. Within the coming decade it overtakes Japan
as the largest economy of Asia, and by the year 2020, surpasses the U.S. economy. Weilbaum further explains this scenario by suggesting that Hong Kong would be successfully incorporated
into the Peoples Republic of China and stronger economic and cultural ties are developed with Taiwan. China also reorganizes its inefficient state owned firms, adopts a modern legal system,
and establishes a commercial banking system. (Batterson 1) In Weilbaums second scenario China reverts to a fully communist country. In this scenario Wielbaum explains that "everything goes wrong." After
the death of Deng Xiaoping the hard liners take control, the special economic zones established by Deng would remain with further restricted right and privileges, and no new zones would
be created. There would be an end to the Foreign investment privileges, the rich and vibrant economy of Hong Kong would be squeezed, and military power would increase, becoming
a serious threat to Taiwan. Lastly, in this scenario New Western investment would virtually cease to exist, and Chinas economy would likely nose-dive. (Batterson 1) Weilbaums third scenario
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