Tennessee (US), July 6 (ANI): A research by Jack McCann of Lincoln Memorial University has suggested that China could become the dominant economic power within few years if it exploits its competitive advantages politically, culturally, legally and economically.
McCann said China's business and political leaders have long worked to build strong relationships with developing countries.
China is strengthening its global political presence that is closely aligned with economic expansion, which could lead to a sustainable dominant position in the world, he added.he Chinese Communist Party, which has governed China for the past 55 years, has witnessed an average annual growth of about ten percent for nearly two decades and unique stability during the current world economic crises.
China's merchandise trade has been growing at about 14 percent, three times faster than world trade, making the country's economy, third largest in 2008.On paper, globalization poses the long-term potential to raise living standards and reduce the costs of goods and services for people everywhere," McCann said.
However, globalization does not mean equitability. China currently produces almost three-quarters of the world's products, nearly two-thirds of its bicycles, a third of its television sets and air conditioners, and half of the world's microwave ovens.
"China's pool of cheap labor may dominate world labor markets for decades, giving it a monopoly on cheaply manufactured goods," McCann added. (ANI)
McCann said China's business and political leaders have long worked to build strong relationships with developing countries.
China is strengthening its global political presence that is closely aligned with economic expansion, which could lead to a sustainable dominant position in the world, he added.he Chinese Communist Party, which has governed China for the past 55 years, has witnessed an average annual growth of about ten percent for nearly two decades and unique stability during the current world economic crises.
China's merchandise trade has been growing at about 14 percent, three times faster than world trade, making the country's economy, third largest in 2008.On paper, globalization poses the long-term potential to raise living standards and reduce the costs of goods and services for people everywhere," McCann said.
However, globalization does not mean equitability. China currently produces almost three-quarters of the world's products, nearly two-thirds of its bicycles, a third of its television sets and air conditioners, and half of the world's microwave ovens.
"China's pool of cheap labor may dominate world labor markets for decades, giving it a monopoly on cheaply manufactured goods," McCann added. (ANI)
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