Friday, October 19, 2007

The Chinese Economic Flourish

My main concern this week is the issue concerning America feeling threatened of China's growth. In the next ten to fifteen years China "will" surpass the United States as the largest economy. This does not mean that China will run the world. This does not mean that China will be the strongest military power the world has ever seen; at least for the dominant portion of our lives. I am just tired of hearing that China is trying with all its might to outdo the United States economically and thereby take over the world. China is not a competitively capitalist nation. They are growing economically due to a massive population as well as large foreign investment. Chinese citizens are some of the worlds most disciplined savers. Due to this discipline China holds of one trillion U.S. dollars of foreign currency. From my perspective China is following a Confucian principle. They are trying to be as successful as possible and thus catapulting the country as a whole into the economic spotlight. Yes, the future possibility of military action towards Taiwan, as well as trade alliances with Iran poses questions for the years to come. However, today, tomorrow, and almost certainly for the next couple years, China and the United States are interdependent. If one would like to go into detail the United States relies much more on China than vice versa. China's growth is good for all.

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