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Economies of US & China (1986-2006) Essay

  • Submitted by: jumpthafawkup
  • on December 10, 2008
  • Category: History
  • Length: 2,835 words

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Below is an essay on "Economies of US & China (1986-2006)" from Anti Essays, your source for research papers, essays, and term paper examples.

Economies of US & China (1986-2006)
The United States of America and China are two of the largest economies in the world today. Since 1986, the US economy has grown immensely and has boasted the highest material standard of living in the world. Although the United States has held the top position as the largest economy in the world that consumed the largest portion of the world’s resources, this situation is changing rather quickly. In recent years, the economy of the People’s Republic of China has seen drastic change for the better and is often described by analysts as “one of the greatest economic success stories of modern times.”   Some even predict that China will pass the United States as the world’s largest economy in the next couple decades. Additionally, some believe that China will become the world’s largest trade economy in as little as a few years. Each of these country’s governments are vastly different from one another and both play a large role on their respective economies through the implementation of governmental policies. It is safe to say that China is no longer a developing country, but rather an emerging economic superpower that will soon challenge the economy of the United States which has reigned supreme since the conclusion of the second world war.
Economy is defined as the human activity that consists of producing, distributing, exchanging, and consuming of goods and services. However, this definition is not cut and dry because the structure of any given economy is inseparable from the nation’s culture and political ideals. The economy of the United States of American is often depicted as a “capitalist” economy. A 19th century German economist and social theorist named Karl Marx introduced this form of economy, which was a system in which a small group of people who had the most money would make the most important economic decisions. Nevertheless, this form of economy that Marx pioneered has been extinct for some time now and is not by...

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Economies of US & China (1986-2006). Anti Essays. Retrieved December 11, 2018, from the World Wide Web: http://cassandralynndesignllc.com/free-essays/Economies-Us-China-1986-2006-26541.html