FinalEASC

FinalEASC - Chinas Emerging Economy; Measures Taken to...

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China’s Emerging Economy; Measures Taken to Overcome Global Apprehension With $53 billion in annual foreign investments, two digit economic growth, a territory that makes up a third of the continent of Asia and approximately 20% of the world population, China is well on its way to becoming world’s next superpower 1 . With such impressive statistics, China has the ability to not only expand but to influence most dominant economies all over the world. And as China is slowly assuming a leading role on the global stage, the world is patiently waiting to see which path the Chinese government will embark on. Will the Chinese Communist Party defy the recognized norms of environmental and human rights at expense of its own economic growth? Or will it cooperate with the terms set forth by countries such as the US, Japan and its East Asian members? China’s rapid economic emergence has given way to a number of issues regarding its lack of participation in foreign affairs, violations of human rights, corruption and disregard for the environment; however, the Chinese government has been able to effectively identify these problems and alleviate global apprehension. The first, initial concern that many nations had was the lack of China’s involvement in world’s political and economic organization. Many believed that China should attempt to integrate itself into world organizations as opposed to holding on to their previously isolationist views. China took this concern into consideration and took numerous steps towards becoming a global player, in 2001; it joined the World Trade Organization. By entering the WTO, China promised “tariff reductions for both agricultural and manufacturing products; elimination of nontariff barriers in industrial sectors; opening up of major service sectors; phasing out of multi- 1 China . 11th ed. McGraw-Hill/Dushkin: Suzanne Ogden, 2006
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fiber arrangement quotas on textiles and clothing by North America and European countries” 2 . Not only has the entrance into the WTO propelled its economy, but it enabled nation states around the world to view China as a partner not a competitor in world affairs. In addition to the entrance into the WTO, China has been working vigorously to establish diplomatic relations with countries across the world. As a result of their efforts China acquired political relations with 167 nations which is far greater than the 24 counties it had any ties to in the beginning of the 80s. 3 Furthermore, in recent years, China has sought an even “higher profile in the UN through its permanent seat on the United Nations Security Council and other multilateral organizations.” 4 All of these attempts to establish itself as a major player on the global political arena have alleviated some of the Western world apprehensions. Although a previous concern that dealt with the lack of political activity has been
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This note was uploaded on 09/09/2008 for the course EASC 150g taught by Professor Rosen during the Spring '07 term at USC.

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FinalEASC - Chinas Emerging Economy; Measures Taken to...

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