Course Hero Logo

Research_Project_A3_American_and_Chinese_economies_in_comparison.docx

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 - 4 out of 27 pages.

Research Project:American and ChineseEconomies in ComparisonTable of ContentsIntroduction...............................................................................................................................2Global Indicators......................................................................................................................3Consumer and Producer Price Index.......................................................................................3Gross Domestic Product real, nominal, and per capita...........................................................5Unemployment Rate................................................................................................................8Ethical Indicators......................................................................................................................8Political Indicators..................................................................................................................10Government Effectiveness....................................................................................................10Political Stability...................................................................................................................11Corruption Control................................................................................................................11Physical Indicators..................................................................................................................12Land Area..............................................................................................................................12Infrastructure.........................................................................................................................13Societal Indicators...................................................................................................................14Life Satisfaction....................................................................................................................15Poverty Rate..........................................................................................................................16Human Rights........................................................................................................................17Culture...................................................................................................................................17Does the economic size and growth of the two nations have any relationship to capitalismand democracy?......................................................................................................................18What is the impact of the Internet on the two national economies?..................................20How do these nations define capitalism in relation to national political policies?............21Is there a relationship between economic growth and personal freedom?........................22Conclusion...............................................................................................................................22References.................................................................................................................................231
IntroductionIn this research paper I will discuss and compare the economic differences of the UnitedStates of America and the People’s Republic of China regarding their global, ethical, political,physical, and societal factors. In addition, I will discuss their relation to capitalism anddemocracy as well as the nation’s approach to socio-economic issues such as personalfreedom. Before I will get further into detail of those differences it is important to understandthe general concepts that these countries are based on and how they operate. The Chineseeconomy is driven by state owned companies and a handful of private organizations, whereasthe American economy is mostly driven by private entities that are usually independent fromany government interference.Since the late 1970’s, China has moved from a closed and centrally planned system to a moremarket-oriented economy that plays a major global role. The strength of the Chinese economyis the manufacturing industry, infrastructure, and lower costs of labor with a per capita GDPof $9,770 in 2018. Within the past decades China has implemented new reforms that resultedin efficiency gains which again contributed to an increase in the GDP. These reforms startedwith the phaseout of collective agriculture, fiscal decentralization, increased autonomy forstate organizations, growth of the private sector, modernizing the banking system,development of stock markets and the opening of foreign trade and investment. From 2013 to2017, China had one of the fastest growing economies in the world. In 2017, it was even thelargest economy in the world, surpassing the U.S. in 2014 for the first time in modern history.China has more than tripled the US growth rate for each year of the past 40 years. Eventhough China also became the world’s largest exporter in 2010 and the largest trading nationin 2013, its per capita income is below the world’s average.11The World Bank. (January 2019). GDP per capita, 2
The United States on the other hand, has the world’s most powerful economy due to itstechnological advantage with a per capita GDP of $62,794. U.S. companies are in a leading

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 27 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Fall
Professor
NoProfessor
Tags
Economics, Inflation, Capitalism, The American, gross domestic product

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture