CHINA'S IMPROVING ECONOMY
SUSPECTED PROBLEMS
FINANCIAL OPPORTUNITIES
FOR PARTCIPATING NATIONS
CHINA'S MOST SURPRISING TURN
GDP INFORMATION
CHINA'S IMPROVING ECONOMY
China has been an independent nation since the beginning of time, specifically its financial institutions are state owned. Although under developed, and one of the slowest developing countries, China was a proud and self-sufficient country, desiring to be individual, and dependent upon no other nation. Many years of being independent have severely limited the incoming and outgoing of financial funds and support, and as a result, China has reached its lowest economic downfall in history. Last December, China agreed to sustain an agreement with the World Trade Organization, after debating over the idea for the past fifteen years. The goals of entering an agreement with the World Trade Organization, were reducing the unemployment rate, and improving the China's economy. One of the obligations on China's part was they must submit to openness of their previously closed markets, such as banking, insurance, telecommunications, and agriculture. Although the overall outcome is optimistic, they are anticipating some problems, which the China government is unsure how this will be handled. (Lardy, Nicholas, 2002)
SUSPECTED ARISING PROBLEMS
Although in some instances, employment is expected to drastically improve, in some other cases, unemployment is expected to increase. Being an underdeveloped country for so many years with little or no progress, it is unrealistic to expect positive changes to take place immediately, regardless of how extreme and beneficial the new business arrangements and developments.. At the present moment, before any progressive economic changes can be expected, China must concentrate on staying afloat. Avoiding bankruptcy and total financial collapse, is the Chinese governments immediate concern. China has lost all inside resources, and must now depend on the acceptance and willingness to trade from other nations. (Lardy, 2002)
Other nations may be reluctant to trading with China, because China has not established credibility and trustworthiness with other countries. In addition to this, China has contributed nothing to these other nations, government or financially wise, that it must now depend upon, for...
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