DBQ: Like Japan in the 1980’s, China Poses Big Economic Challenge
1. Some differences the way Japan went about building Osaka airport in the late 1980’s and China’s work on its own Guangzhou Airports today is that Japan built the airport with nearly complete exclusion of non-Japanese companies but China, on the other hand, is welcoming and offering to multinational companies and foreign investment when building their airport in Guangzhou.
2. The author of this article compares the economies of China and Japan by writing that Japan has run out of low wage workers for its industries but China still has vast reserves of cheap labor in inland areas and many backward industries that can grow swiftly as they copy Western and Japanese methods.
3. Some of the risks that China faces as its economy changes from a planned economy to a form of capitalism are that unsustainable economic bubble is developing and that social tensions may be brought to the surface by the rapid economic development.
4. According to the article, the Bush administration is dealing with American’s fears of losing jobs to the Chinese by talking tough with the Chinese- in particular, demanding that China let the exchange value of its currency float upward to raise the price of its exports but also having its faith in a policy of free trade. The leading Democratic presidential candidates seem to feel the same about the issue as many other Americans because they always seem to be emphasizing jobs lost to trade, especially trade with China.
5. China’s biggest strengths as a nation involved in a global economy are its wage advantage is much greater and China has the diplomatic muscle to resist trade and currency concessions. Also, China has both the latest technology and the corporate connections overseas that help fight restrictions on its exports and China’s biggest competitive advantage is, its immense and low paid work force.
6. Chinese workers like Sun Xin and Du Anan seems to...