The Emergence of China and India and the Impact on the United States Essay

The emergence of China and India and the impact on the United States Tracy Davis |General Purpose: |To argue a position | |Specific Purpose: |To argue the position that globalization is creating a level playing field between the | | |east and the west. |Central Idea: |The emergence of China and India’s third world economies due to trade and investment and| | |the costs and benefits to the United States. | 1. Economies Government planned economy-Communism Market Economy- Capitalism a. China has changed its economy to a market economy while retaining the . political authoritarian government. b. India has a market economy and a democratic government c. The United States practices and reaps the benefits and costs of a market based economy. . Trade a. The World Trade Organization was established in 1990. Communism had collapsed and capitalism spearheaded by the United States encouraged nations to join and establish a global trading community b. At last count, the U. S. trade gap with China for 2008 was running at an annualized $717. 1 billion versus the $700. 3 billion in all of 2007, based on U. S. Commerce Department numbers. The deficit August figure was $25. 3 billion, the second highest monthly total ever. c. India has set a target of $200 billion in exports for the current fiscal year ending March 31, up from $155. billion reported for 2007-08, and is aiming for a 5-percent share in global trade by 2020. 3. Outsourcing and Jobs a. The real boom in China is the global economy itself. Much of it has simply moved to China, and it is owned and run by the same multinationals that have left America for China. b. Technology, massive population and low wage expectations have been the key to bringing white collar jobs to India. c. American businesses have moved 1 million white collar jobs offshore with most jobs going to India.

Globalization is creating a level playing field between the east and west, and it is here to stay. If the United States wants to stay competitive there are solutions. Reforms of the US tax code, investment in education. Adapt, progress, and rise up to the challenges. It is Survival of the fittest. Bibliographic Page Meredith, Robyn. 2007. The Elephant and the Dragon. New York: W. W. Norton & Company Areddy, James T. November 2008. “Relax Obama; Americas Asian Trade Deficit is Shrinking. China Journal National Intelligence Council. http://www. dni. gov/nic/NIC_globaltrend2020_s2. html

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