COME 21
During the majority of the 20th century the United States has been able to maintain it's position as the World economic leader without too much fear of losing the position. Recently however the threat of being dethroned as king of the hill has become a major issue. Japan, who's economy grows constantly, is generally regarded as the country that will succeed the United States in this capacity, but recent studies have suggested that China is growing faster than any country in the industrialized world at the present time. Economist speculate that if future growth rates continue to rise just as dramatically as they have been, China will have surpassed Japan's economy by the year 2005 and the United States by 2020 (Batterson). Analyst Murry Weilbaum suggests a number of scenarios for China's economic domination in the coming Century. In the first scenario Weilbaum sees China completing it's move towards a market-based economy, and privately run businesses. Within the coming decade it overtakes Japan as the largest economy of Asia, and by the year 2020, surpasses The United States economy. Weilbaum further explains this scenario by suggesting that Hong Kong would be successfully incorporated into the People's Republic
The Backbone of the Chinese tradition in society has always been the philosophical theme of Harmony with Nature and Commitment to Family (Brown 13). This modern concept which incorporates another theme known as a sustained society is one that meets the needs of current generations without changing the ancestral ways of the past. However, now as the 20th century draws to a close China is looking towards one of it's new leaders, Deng Xiaopeng, and his belief that "To get rich is glorious", and have consequently abandoned old traditions conservation to further their economic advancement (Brown 113). We can also take a look at the numbers for the companies in the private sector. Certainly the biggest of these In 1987 was IBM at $55 billion followed by Toyota's $52 billion and then the Korean Hyundai at $38 billion (Kang 44). From this we can make a generalization about the kind of potential that Korea has, and that it is not unfounded to see Korea to be like Japan. Korea has been growing and growing but is in the shadows of Japan in its economic growth. Our President Mr. Clinton says that we have to be competitive if we want to keep high paying jobs in America. Then, the question is posed that if our ability to compete in the real world means that all of the American population has to work harder and longer for less, is this really worth it? Yet, in the real world, things seem to work just the opposite. Employers and big companies argue that the only way to stay competitive is to keep the pay for jobs low. If employers can not get cheap labor they will take their company to another country where they can. The whole idea of competition is to lower the cost of goods to the consumer and this is hard to do when the competition is spending less on labor. It is actually quite a vicious circle. Competition drives companies out of the United States because the cost of labor is too high. However, the newly out of work employees seek to gain work elsewhere and this competition for work also cause
Some common words found in the essay are:
President Clinton, , Japan United, Hong Kong, United United, Weilbaum China, China Korea, Family Brown, Deng Xiaping, Unites GNP, global economy, hong kong, growth rate, korea japan, korea relatively economic, batterson weilbaums, coming century, china korea, japan united, relatively economic, economic leader,
Approximate Word count = 1359
Approximate Pages = 5 (250 words per page double spaced)
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