" (AP, 1) China has shown itself to be increasingly less isolated than it had been in the years immediately following the end of the Cold War. However, it appears that today, China fully understands its role in the world and had facilitated its own growth within the framework of global systems initially sponsored by western powers. Its growth suggests that it has adapted to the extent of eclipsing many of its western counterparts while simultaneously assessing capitalism according to its own terms.
As the Reich article points out, drawing in one of the core ironies of capitalism and its relationship to globalization, "for years, we've assumed that capitalism and democracy fit hand in glove. We took it as an article of faith that you can't have one without the other. That's why a key element of American policy toward China has been to encourage free trade, direct investment, and open markets. As China becomes more prosperous and integrated into the global market -- so American policy makers have thought -- China will also become more democratic." (Reich, 1) the article goes on to denote that this has simply not occurred, pointing instead to the lavish lifestyles of China's corporate leaders and privateers as directly and severely contrasting the lives of the laborers on whose backs such growth has been achieved. This points to the nature of Chinese capitalism, which helps the nation to grow even as it defies the alleged philosophical aims of free market competition.
As to these terms, China poses an interesting case for the duality of its relationship with the U.S. economy, where its investment in the American dollar has come to tie it closely with the fate of its value and where, nonetheless, the growth which that has afforded the communist superpower is now allowing it to reshape the basis of its economy. For China, investment in foreign private equity represents a mode through which it can today transfer its substantial holdings in the U.S. dollar into more robust currencies. Thus, can seen an actualization of this strategy, with the eventuality being that the $3 billion invested into the American firm will ultimately be disseminated at a higher cost to the public buyer. This is a demonstration of one way in which "the Chinese government had been set to shift some of its foreign exchange reserves of more than $1 trillion into other world currencies because of the sluggishness of the dollar." (AP, 1]) in the coming years, such a private equity venture will likely prove beneficial to the Chinese government, which will cull a favorable monetary expansion as a new and separate phase from its dependence, heretofore, upon the value of the once far more comparably merited U.S. dollar. This is a leveraging of assets with deeply capitalist allowances, and suggests that, successful or not, China's adoption of capitalism has most certainly been full-fledged, which is a commitment that is not without its consequences. Just as the patterns of growth which have marked its last few years are a credit to this relationship, so is this relationship at the root of China's current crisis.
Today, as capitalism hits a serious snag in the form of global economic crisis, it is not even sufficient...
Accounting Theory Over the year, the world scholars continue to evaluate the economics of the world to understand their functioning. In this course, they developed the subject of accounting to assess the frameworks of financial principles. The accounting theory in discussion involves reviewing the historical foundations of financial reporting and creating new models of reporting the financial developments and exchanges (Richards, 2009, p. 17). Accounting theory evolves continually; thus, there are
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