China and the United States obviously compete with each other. These two economic giants exhibit their economic powers to prove that they can use their wealth. However, America, known for its wealthiest status in the global force and market economy, has slowed down its position and standing compared to China’s rapid GDP growth. This circumstance indicates that communist-ruled China has pushed the boundaries to challenge the democratic-possessed United States and reach the goal.
Over the years, China has learned to combat any market odds and to bend some possible rules when necessary such as its venture in the World Trade Organization (WTO). Unlike the United States, which does not easily adapt to any threats in the market; China maneuvers to highlight its power and moves its curve to adapt easily to fight the challenge against the market forces. The economic power of China is visible. It now becomes the world’s economic giant. As said, China does capitalism better than the United States.
Communist-ruled China continues to boost its economy amidst the challenges of the global recession. It seems ironic to believe that China finds its course to grow economically amidst the billowing dilemma in terms of financing and marketing and sales. According to Karon (2011), he asserts that “China can decisively respond to a long-term crisis” (p. 1). In other words, China quickly possesses cogent and well-organized management looking ahead to its progress and economic activities and brings its economic development closer to the United States.
For example, the real domestic growth for China reaches 10.5 percent surpasses the United States’ 1.7 percent for ten years (Kenny, n. page). Kenny adds his statement that China becomes progressive in time soon if its gross domestic product will continually average half or closer to 10.5 percent. For him, this GDP average is extremely higher than the GDP average of the United States of America, which only improves at 1.7 percent. As such, China performs better in the global market and simply proves that it will soon rise as the economic giant in the world.
China manages to maintain a strong economy that weakens other capitalist countries like the United States. It can be ironic to reveal that China does capitalism better from 2008 up to the present time. Though the global recession is feared by economists and many countries, communist-ruled China performs better to manage capitalism’s crisis than the democratically elected U.S. government (Karon 2). For example, Beijing learns to expand its business operations and becomes the center of business. As such, it effectively carries out a job “in terms of tooling its economy to meet future challenges compared with Washington” according to the historian Francis Fukuyama.
The United States o America suffers from the recession a lot. According to Fukuyama, as cited by Karon (2011), the United States does not have enough statements to brag and teach China. China’s performance becomes admirable due to its economic feat and struggles to bend over the global recession. Besides, Beijing, which has plenty of state-owned enterprises, faces a mechanism of competition in the global market through which it grows unexpectedly up to 10.5 percent compared to the 1.7 percent growth achieved only by the United States. With this, China learns to be mature in facing global recession.
Comparing the United States and China appeared to be a huge challenge. I did not have to be prejudicial because I did not have to do it. This essay was written in 2014; it was a long essay… Please contact us if you wish to read more…