Global Economic Superpower Assignment

Added on - 18 Mar 2021

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China’s Rise to Global Economic SuperpowerEC4005 –THEFONDEMENTALS FECONOMICUNIVERSITY OF CENTRAL LANCASHIRE, CYPRUSSCHOOL OF BUSINESS AND MANAGEMENTMBA COURSE 2020-2102/11/2020TABLE OF CONTENTS
Table of Contents-------------------------------------------------------------------------------------------- 2Introduction--------------------------------------------------------------------------------------------------- 3Chinas rise to Global Economic Superpower------------------------------------------------------------ 3Chinas Comparative Advantage--------------------------------------------------------------------------- 4Prospects and Challenges Faced--------------------------------------------------------------------------- 6Conclusion---------------------------------------------------------------------------------------------------- 8References---------------------------------------------------------------------------------------------------- 9WORDS: 1840INTRODUCTION2pg.
The fast advancement of China's economy in the course of the most recent couple of years haspulled in muchattention. Numerous countries, firms, andopinionleaderslook in stunningness and envy at these turns of events, especially while understanding that China is as of now the mostpopulatedcountry on earth and the second-largesteconomystriving towardsrectification forpurchasingpower.IdeallyChina'sfiscal growthwould not have been conceivable without opening up to the world economy and utilizingforeign knowledge, eitherdirectlyor by indirectly.This essay describes china’s rise towards being a global economic superpower it linkssuccessful integration to economic globalization. Moreover, it evaluates china’s comparativeadvantage in international trade. Finally, it explains the prospects and challenges faced by thecountry to maintain its comparative advantage in the future.GLOBAL ECONOMIC SUPERPOWERChina has become a global economic superpower. It has the second biggest nationaleconomy and is the second biggest exporter. It has by a wide margin the world’s largest currentrecord surplus and foreign exchange reserves. Growth arrived at a midpoint of 10% in the past30 years, the most astounding record ever. China is the biggest country in terms of residents ofwhich is approximately 1.4 billion. This makes it a good candidate for cheap labor and lowmanufacturing cost. Due to that China attracts foreign investment that has decreased poverty inthe country. The real GDP in 2018 was about 13 times the level in 2005 reaching 13.61 trillionUSD, and as yet rising. China plays a major role in terms of globalization; it is adopting thewestern approach as their strategy to improve a high economic growth through develop into anefficient participant of globalization.Each province in this world isdirectly and indirectlyaffected by globalization.Globalizationrelies on international associations between different countries that promotes political, social,and economic interactions. It is a process of integration and interaction among different nationsthat is based on the flow knowledge and benefits.They canexceedtheirgeographicallimit. Thegoods and serviceswhichare generatedby one nation can be devouredall overthe world. It is astructurewhich connectesdifferent countries toimproveworldwide economy.Itconviespossibilitiesand benefits to the parties involved, however it relieson the mode of action of the countryadopting it.The benefits of globalizationare seizedby manynationssimilarly likechina. They a3pg.
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