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Economic Status of China and the United States

Autor:   •  November 29, 2017  •  1,220 Words (5 Pages)  •  869 Views

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Most of the Chinese companies do business in Africa and repatriate the profits back to China. In addition, the Chinese people are domestic consumers, meaning that China exports less and imports more (Bao, Lin, and Zhao). In this regard, China will probably become the economic superpower in the next 25 years if the United States does not look for more business opportunities (Cai). This is majorly because the Chinese economy continues to expand exponentially while the U.S. economy is under turbulence (Yueh). Besides, China has more companies than the United States and more of these companies are export companies (Wong and Liu).

In conclusion, it is worth noting that the United States has maintained its superpower status for close to two centuries since 1871 and in economics, there are peak moments when expansions are almost zero. As for China, the possibilities are limitless considering the huge number of Chinese companies that operate under the manufacturing and exportation sectors. Since the beginning of the 21st Century, China has embarked on robust bilateral ties with many African countries and this has redefined the Chinese foreign policy. On the other hand, the United States has plans to open more than 30 stores in China as an expansion strategy in order to maintain its superpower status.

Works Cited

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Cai, Fang. Transforming the Chinese Economy. Leiden: Brill, 2010. Print.

Estrin, Michael. How China's economy influences the US. Bankrate.com. 2014. Web. 16April 2014.

Fishback, Price V. M. Government and the American Economy: A New History. Chicago: University of Chicago Press, 2007. Web.

Guo, Rongxing. Understanding the Chinese Economies. Amsterdam: Elsevier/AP, 2012. Print.

Heshmati, Almas. Recent Developments in the Chinese Economy. New York: Nova Science Publishers, 2006. Print.

Lin, Justin Y. Demystifying the Chinese Economy. Cambridge: Cambridge University Press, 2012. Print.

Maddison, Angus. Chinese Economic Performance in the Long Run. Paris: Organization for Economic Co-operation and Development, 2007. Print.

Naughton, Barry. The Chinese Economy: Transitions and Growth. Cambridge, Mass: MIT Press, 2007. Print.

Northrup, Cynthia C. The American Economy: A Historical Encyclopedia. Santa Barbara, Calif: ABC-CLIO, 2011. Print.

Orhangazi, Özgür. Financialization and the Us Economy. Cheltenham, UK: Edward Elgar, 2008. Web.

Wong, John, and Wei Liu. China's Surging Economy: Adjusting for More Balanced Development. Singapore: World Scientific, 2007. Print.

Yueh, Linda Y. The Economy of China. Cheltenham: Edward Elgar, 2010. Print.

Zhang, Ting. Elderly Entrepreneurship in an Aging Us Economy: It's Never Too Late. Singapore: World Scientific Pub, 2008. Print.

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