Hearing on China's Impact on the U.S. Manufacturing Base PDF Download

Author: U.S.-China Economic and Security Review Commission
Publisher:
ISBN:
Category : China
Languages : en
Pages : 164

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Author: Congressional Research Service
Publisher: Createspace Independent Publishing Platform
ISBN: 9781976466953
Category :
Languages : en
Pages : 52

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Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.

Author: Roger W. Robinson, Jr.
Publisher:
ISBN: 9780756740870
Category : Technology & Engineering
Languages : en
Pages : 152

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Witnesses: Senators Lindsey Graham, Ernest Hollings and Larry Martin of S. Carolina; Norman Chapman, Inman Mills, Inman, SC; Sarah Friedman, SE Apparel Manufacturers and Suppliers Assoc.; Larry Crolley, Craig Industries; Harris Raynor, Union of Needletrades, Industrial and Textile Employees; Smyth McKissick, Alice Manufacturing Co., Inc., Easley, S. Carolina, and rep. Amer. Textile Manufacturers Institute; Bob Johns, Nucor Corp.; Timothy Dillon, Sr. Commercial Georgetown Steel Co., LLC; Larry Murray, United Steelworkers of Amer.; Donna DeWitt, S. Carolina ALF-CIO; Jon McClure, ISO Poly Films, Inc.; J. Richard Dillard, Jr., Milliken and Co.; and Jack Hutchison, Georgetown County Economic Development Commission.

Author: United States. U.S.-China Security Review Commission
Publisher:
ISBN:
Category : China
Languages : en
Pages : 274

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Author: U.S.-China Economic and Security Review Commission
Publisher:
ISBN:
Category : China
Languages : en
Pages : 932

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Author:
Publisher:
ISBN:
Category : Government publications
Languages : en
Pages : 1388

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Author: Larry Diamond
Publisher: Hoover Press
ISBN: 0817922865
Category : Political Science
Languages : en
Pages : 223

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While Americans are generally aware of China's ambitions as a global economic and military superpower, few understand just how deeply and assertively that country has already sought to influence American society. As the authors of this volume write, it is time for a wake-up call. In documenting the extent of Beijing's expanding influence operations inside the United States, they aim to raise awareness of China's efforts to penetrate and sway a range of American institutions: state and local governments, academic institutions, think tanks, media, and businesses. And they highlight other aspects of the propagandistic “discourse war” waged by the Chinese government and Communist Party leaders that are less expected and more alarming, such as their view of Chinese Americans as members of a worldwide Chinese diaspora that owes undefined allegiance to the so-called Motherland.Featuring ideas and policy proposals from leading China specialists, China's Influence and American Interests argues that a successful future relationship requires a rebalancing toward greater transparency, reciprocity, and fairness. Throughout, the authors also strongly state the importance of avoiding casting aspersions on Chinese and on Chinese Americans, who constitute a vital portion of American society. But if the United States is to fare well in this increasingly adversarial relationship with China, Americans must have a far better sense of that country's ambitions and methods than they do now.

Author: U.S.-China Economic and Security Review Commission
Publisher:
ISBN:
Category : China
Languages : en
Pages : 180

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Author: Peter Nolan
Publisher: Anthem Press
ISBN: 1843312824
Category : Business & Economics
Languages : en
Pages : 359

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Since ancient times the exercise of individual freedoms has been inseparable from the expansion of the market, driven by the search for profit. This force, namely capitalism, has stimulated human creativity and aggression in ways that have produced immense benefits. As capitalism has broadened its scope in the epoch of globalization, these benefits have become even greater. In an epoch of capitalist globalization, its contradictions have intensified. They comprehensively threaten the natural environment. They have intensified global inequality within both rich and poor countries, and between the internationalized global power elite and the mass of citizens rooted within their respective nation. This book explores the impact of the domineering economic phenomenon on our personal and social liberties.

Author: Michael Milakovich
Publisher: CRC Press
ISBN: 1420031139
Category : Business & Economics
Languages : en
Pages : 427

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Within American service sector organizations there exists a gap between understanding customer service quality improvement (QI) theories and applying them. Improving Service Quality in the Global Economy: Achieving High Performance in Public and Private Sectors, Second Edition fills that gap by presenting theory, application models, and cases of su