Delivery in 6+ hours! In fact, the pandemic has made the world more dependent on Chinese exports, which grew 21% in November over the previous year. In conclusion, it is not possible to have a unanimous decision on which political and economic practice is best for the entire universe. But its also conspicuously different: The concept of U.S. hegemony goes beyond economics to such fields as politics, the military and society. Although there are key historical and political differences between China's relationship to Taiwan and Russia's relationship to Ukraine, there are parallels, too, especially in the present . The Chinese government is, however, much easier to decipher since it is a communist one-party state that is also led by elites even though it goes against the very grain of communism. The Trump administration was determined to damage Chinas economy and businesses. However, as the world is constantly moving towards a market-based system, the country had to switch to this system that allowed it to increase economic and still maintain its communist status. China is also Apples biggest market for iPhones: It has about twice as many iPhone users as the United States does. In a speech in 2000 former U.S. President Bill Clinton declared, By joining the WTO, China is not simply agreeing to import more of our products, it is agreeing to import one of democracys most cherished values: economic freedom. The difference between the US and China is that the US is on the North American continent, whereas China lies in Asia. China and the United States are one of the strongest economies in the world, and both nations are considered superpowers and have contributed significantly to global politics and culture. The top 10 American semiconductor chip makers sell about three times as much in China as in the United States. Chinas recent history means that Chinese people and the state approach decisions very differently from Westernersin both the time frames they use and the risks they worry about most. In International Business: Competing in the global marketplace (11th ed.). This suggests that something distinctive to mainland China influences this behavior: long-term unpredictability thats sufficiently recent to have been experienced by or passed on to those now buying stocks. It is unbelievable that the western countries face a serious competition from these nations due to the political stability found in the two countries. In Vietnam, there are three different people. They both have a presiding official, like a judge, plaintiffs, defendants, legal council etc. The United States had maintained a fairly consistent foreign policy until Trump. (2022, May 17). In this system, the courts depend on the set legal codes by which the juries are only allowed to make their judgment basing on these codes. 55-64). The main difference between Chinese and US politics is the political ideologies, and one is founded on a democratic yet capitalist system while the other has been led through decades on a Communist and one-party system. Born in 1955, she experienced as a child the terrible Great Leap Forward famine in which 20 million Chinese starved to death. One example is the reinvention in the late 2010s of the Central Commission for Discipline Inspection. In fact, the pandemic has made the world, Out of the Gobi: My Story of China and America, Money Games: The Inside Story of How American Dealmakers Saved Koreas Most Iconic Bank. The Chinese political system is dominated by multiparty cooperation as well as political constitution under the direction of the Communist party of China (CPC), but the USA is governed by the western style of multiparty system. The positions in this branch can be for either a five-year long term or even an unlimited amount of time. Land use is the most direct manifestation of human activities, accompanied by changes in land cover. Economic and Political Differences: China VS. United States. Voter suppression has been reported through disenfranchising people of color, through restrictions placed on mail-in voting that can cause irregularities in the system and strict voter ID laws that can contribute to issues that can cause certain people to not place votes(McKeever, 2020). But defaults and bankruptcies are common in a market economy. In fact, many Chinese believe that the countrys recent economic achievementslarge-scale poverty reduction, huge infrastructure investment, and development as a world-class tech innovatorhave come about because of, not despite, Chinas authoritarian form of government. Nevertheless, these changes do not seem to stand any chance of influencing its foreign policymakers, who remain convinced of their system's superiority relative to all others. On the foreign front, China never tried to pressure anyone to conform to its domestic political system but instead not only respects, but celebrates, their differences. Some of these challenges are brought about by differences in legal, political and economic systems of different countries. Accept that economic development in China will not inevitably lead to democracy; acknowledge that the Chinese regard their government as both legitimate and effective; and recognize that while Chinese consumers have short-term horizons, their rulers are focused on the countrys long-term security. However, it is important to compare and contrast countries to see which policies are working in the best way and what can be changed. The pandemic has profoundly shaken the U.S. sense of superiority in values, culture and systems since the Enlightenment, and by extension the entire West. Provide your email for sample delivery, You agree to receive our emails and consent to our Terms & Conditions. Wherever PAG operates, we adhere to the same environmental, social, and governance policies. China now has better highways, rail systems, bridges, and airports than the United States does. The U.S., on the other hand, is infamous for its self-deluded belief in so-called "American Exceptionalism," to which end it obsessively seeks to force all others to change their ways in order to replicate its own radically. Eventually he came to the United States, where he earned a masters and a PhD at UC Berkeley, worked for the World Bank and J.P. Morgan, and taught at the Wharton School. (2016). Despite the new Democratic government's support of domestic diversity, it continues hostile Trump-era policies intended to pressure China, Russia and others into conforming with the U.S.'s political demands. I see no systemic risk either in Chinas banking system or in its economy. Between 1990 and 2009, investment from China to all of Latin America was about $7 billion. There are other courts in the land such as High Courts and District and County Peoples Courts and Special Courts for military and forestry issues. This is the logical extension of China-U.S. competition from the perspective of U.S. economic nationalism. Shan: Despite initial blunders, China has handled the coronavirus pandemic well through strict lockdowns and mass testing. Even though China is diverse in its ethnic groups, it is still a relatively high homogenous group, which is also reflected in its politics. The . Today its traded on the New York Stock Exchange with a market cap of about $45 billion and has more than 800 million unique active users. And the party has always believed in and emphasized the importance of Chinese history and of Marxist-Leninist thought, with all they imply. The truth, then, is that China is not an authoritarian state seeking to become more liberal but an authoritarian state seeking to become more successfulpolitically as well as economically. However, in recent times China has overtaken the US by at least one measure of total economic strength, which is GDP based on purchasing power parity (PPP). The closing meeting of the fifth session of the 12th National People's Congress is held at the Great Hall of the People in Beijing . This shared quest for predictability explains the continuing attractiveness of an authoritarian system in which control is the central tenet. People who do take long-term career risks often do so only after fulfilling their primary need for short-term security. During the Cold War in the 20th century, and particularly afterward, the U.S. sought to establish and consolidate its leadership role in the international community in the name of freedom and democracy so much so that U.S. hegemony was also often referred to as hegemonic liberalism.. The differences in political beliefs led to the formation of a two-party system in the United States, contrary to George Washington's wishes. The PRC isn't just pragmatic, but also respectful towards all of its partners. The Chinese political system is dominated by multiparty cooperation as well as political constitution under the direction of the Communist party of China (CPC), but the USA is governed by the western style of multiparty system. A. Chinas saving rate will drop significantly as its population ages, and investment will slow. Weijian Shan was born in China and had his life upended by the Cultural Revolution. In 2019 that market reached $6 trillion, surpassing the U.S. level of $5.5 trillion. When life is (or has been within living memory) unpredictable, people tend to apply a higher discount rate to potential long-term outcomes than to short-term onesand a rate materially higher than the one applied by people living in more-stable societies. The name of the game in China is scale. He was born in China, and his life was upended during the Cultural Revolution, when he was sent off to do farm labor in the Gobi Desert. Its aggressive handling of Covid-19in sharp contrast to that of many Western countries with higher death rates and later, less-stringent lockdownshas, if anything, reinforced that view. The paper also highlighted citizen engagement in both countries, either through direct elections in the USA or through the CCP controlled nominations in China. The only obligation they have is to follow the law that in most cases is straightforward. Since China is a communist and one-party state, citizen engagement is lower in comparison to democratic states. Examination of School Shootings and Student Safety from International and Non-International Armed Conflict, Comparison Between Democracy Vs. China has also defied predictions that its authoritarianism would inhibit its capacity to innovate. But at every point since 1949 the Chinese Communist Partycentral to the institutions, society, and daily experiences that shape all Chinese peoplehas stressed the importance of Chinese history and of Marxist-Leninist doctrine. Although murdering babies and elderly with medical sanctions in multiple too left . PAG invested about $100 million in a digital music business in China a few years back which subsequently merged with a similar business and changed its name to Tencent Music Entertainment. Nolan, P. (2012). The task, in both China and the West, is to reduce the gap between the ideal of basic human rights and the reality. China is also often at pains to suggest to foreign governments or investors that it is similar to the West in many aspectsconsumer lifestyles, leisure travel, and a high demand for tertiary education. Obviously the ideology of nationalist identification under the pandemic has greatly roughened the political landscape for China and the U.S. He wisely noted that "Democracy is not Coca-Cola, which, with the syrup produced by the United States, tastes the same across the world. The geographic location factor is important since it dictates how well a country can be accessed to do business with and both China and United States have good locations since they are connected to water bodies. Trumps trade war was an abject failure. 9. The legal system of a country plays a key role in terms of its marketing and investment opportunities. China has been shifting away from an investment-driven growth model to one led by private consumption. That means not that these people are unconcerned with long-term outcomes but, rather, that their risk aversion increases significantly as the time frame lengthens. Here and there, yes, but not in a meaningful way in general, and not without harm to itself. It will take years if not decades for China to catch up in some areas, at great cost. The complete Spotlight package is available in a single reprint. The city of Rongcheng, for example, uses big data (available to the government through surveillance and other data-capturing infrastructure) to give people individualized social credit scores. These are used to reward or punish citizens according to their political and financial virtues or vices. The pandemic has added urgency, but American politicians appear not to have found the answers. Social Structure In China, the social structure is formal and hierarchical. In our work we have come to see that people in both business and politics often cling to three widely shared but essentially false assumptions about modern China. If a business is successful, its usually open to taking outside capital so that it can quickly expand nationwide. In contrast, the governments discount rate on the future is lowerin part because of its Leninist emphasis on controland explicitly focused on long-term returns. As the United States is considered a representative republic, citizen engagement is all the more important and starts with providing the citizens of the country, regardless of gender and over the age of 18, the right to vote for their communities in the form of local elections that can elect congresses that represent their towns and constituencies as well in the Presidential election for the various arms of the executive branch. Politicians and business leaders continue to misread Chinas strategy and politics. Even in Beijing many people wore Mao suits and cycled everywhere; only senior Chinese Communist Party (CCP) officials used cars. The United States government structure is one of the largest democracies in the world and has been considered by many as one of the perfect democracies which the country and its citizens have prided themselves over. By the 1980s she was in the first generation to go back to university, and even took part in the Tiananmen Square demonstration. No personal data is being tracked. Exploding unemployment exposed the wide wealth gap in U.S. society. Until that happens, the world will remain unstable as the U.S. aggressively tries to eliminate political diversity. Most ordinary people we meet dont feel that the authoritarian state is solely oppressive, although it can be that; for them it also provides opportunity. Collectivism means that the needs of an individual are not emphasized as compared to those of the society and not until recently, most rights of Chinese citizens were not realized. But this argument overlooks some fundamental differences between China and the United States, Japan, Britain, Germany, and France. China's lead over the U.S. is especially clear in Germany, the Netherlands, the Czech Republic and France, where people are at least 10 percentage points more likely to see China as the leading economy. A decade ago its retail-goods market was about $1.8 trillionless than half that of the United States. In other words, it's actually the U.S. that's an ideologically driven state and not China, unlike what the Western mainstream media has falsely claimed in recent years. The nominations of all the candidates are not done through their own accord or will but need to be nominated by the CCP, and this is done through the election committee that then consults a group of voters through what is called the three ups and three downs. In Canada, it is a . (b) The national average SP of CO2 is 266.8 US dollars per ton, which is much higher than the carbon price in the emission trading system. Beijing expats speak Mandarin better than Shanghai ones. Many Chinese believe that the countrys recent economic achievements have actually come about because of, not despite, Chinas authoritarian form of government. The major focus of government expenditure is domestic infrastructure. Nations without better access to such facilities depend on their agriculture and natural resources to enhance economic growth. And believing that Chinas economic growth would have to be built on the same foundations as those in the West, many failed to envisage the Chinese states continuing role as investor, regulator, and intellectual property owner. The Incarcerated Vote. In 2020 China had more billionaires than the U.S. did, and it outpaces the U.S. three to one in minting them. Additionally, human development is also key for countries to realize full economic growth. For example, a 2015 survey found that 81% of them trade at least once a month, even though frequent trading is invariably a way to destroy rather than create long-term fund value. How accessible is it these days? This shapes the way they make long-term commitments, especially those that entail short-term trade-offs or losses. The Vietnamese premier is very powerful. Nobody can take America's newfound domestic support for diversity seriously until it finally starts applying the same principles abroad like China does. Now CEO of the Hong Kongbased $40 billion private-equity firm PAG, Shan spoke with HBR Editor in Chief Adi Ignatius about the economic prospects for China and the United States. All the work should be used in accordance with the appropriate policies and applicable laws. ProEssays website, please click below to request its removal: Liked this essay sample but need an original one? Lets be honest: A rising China may be a threat to Americas economic and technological supremacy, but not to its national security, because China doesnt export its ideology or political system and doesnt seek regime change anywhere in the world. Hence, we need to understand, compare, and learn from leading values in China's political culture. But surely gun shops being essential service during a huge medical virus shutdown is the height of insanity at this moment on this planet. From the U.S. perspective, upholding the banner of freedom and democracy no longer matters. they are digging deep to create the city's first metro system and doing so in just five years' time . Entry to the CCP and to a university involves compulsory courses in Marxist-Leninist thought, which has also become part of popular culture, as evidenced by the 2018 TV talk show Marx Got It Right. The commission has succeeded in reducing corruption in large part because it is essentially above the lawsomething unimaginable in a liberal democracy. Citizen engagement is integral to the success of every country, whether it be regarding the social welfare or economics of the country, and since both these countries play such a huge role in the International Arena, the comparison of their citizen engagement will be analyzed in this paper. New York: McGraw Hill/Irwin. This explains why the People's Republic of China (PRC) never attaches any political strings to its economic deals nor makes ultimatums regarding any of its partners. The Communist Party of China (CPC) harbors no supremacist beliefs and doesn't plan to export its governing model abroad. China, meanwhile, doesn't apply any such double standards. Its stated purpose was to reduce Americas trade deficit. The elite theory focuses on the notion that only a select group of people actually run the government, which are considered elite, while the pluralist theory states that political power is rather shared between the influencing parties. Empowered by Xi to deal with the corruption that had become so prevalent early in that decade, the commission can arrest and hold suspects for several months; its decisions cannot be overturned by any other entity in China, not even the supreme court. What are the dangers in Americas continued demonization of China? As well argue in the following pages, these assumptions reflect gaps in their knowledge about Chinas history, culture, and language that encourage them to draw persuasive but deeply flawed analogies between China and other countries. By comparison, progress on these issues is for Western economies extremely slow. 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