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International Business Relations : Growth And Development

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Question:

Describe about the International Business Relations for Growth and Development.

 

Answer:

Introduction

In the rouse of Cold War, the future forecast of the East Asia was viewed to be enormously depressing, primarily as per the western scholars. With the mount of China and the turn down of the Soviet Union, the scholars forecasted that the nation would budge towards an unbalanced multi-polar category, as China grew, Japan re-militarized and US drew down its military, and other nations in the world started to engage in armed races. But after decades, there is developing literatures by the Asian scholars that the East Asia had not fall down in the chaos and disorder with upsetting balancing of power as forecasted (Goh, 2005).

The growth and development in the overall power of China, inclusive of its military competence and the way in which the leaders of China will take use of this power will have extreme effect over Asia as well as the world. China does not only possess highest number of population but it is also larger than several other nations on the basis of various elements. Sustained and robust modernization and industrialization in the last two decades has transformed China, a highly agrarian nation into a dominant entity, given absolute demographic realities. There is high significance of military in the case of Chinese power since revolution of the armed forces and for China; the military-industrial complex is a significant aim (Dutta, n.d).

Asia-Pacific order and its evolution

The parallel rise of China depicts a geopolitical incident of the historic section. The global system has observed the reemergence of China as the nation possess huge population, grounded on storied and ancient history, control and lead the geographic environ within the nation is located. China’s return to focal stage after experiencing several centuries of grand dominance and supremacy therefore presages the re-creation of a previous era in the Asian geopolitics at the time when China was among one of the most significant application of political supremacy in the global system subsequently after the collapse of Rome. The resurgence of Asia in the international system was dramatically represents with the concurrent revise of China. Since the World-War II ended, there was a rapid budge in the absorption of competencies from the West to the East. This revolution took a crucial opportunity when the minor, rapid-industrializing nations of Asia such as Singapore, Taiwan, South Korea and Japan be connected by the giant, giant sized provinces of China (Tellis and Mirski, 2013).

 

Global role changing of China and role of China in Asia Changing

Given China’s current economic growth, China stresses its complete support towards an open economic order presently as well as in the future. China will definitely continue to aid a rule-based, transparent and open international trade system. China has not only developed as an outcome of its assimilation into the international economic arrangement but has also utilized that integration as a power for benefitting the domestic improvements. China intended to persist internal reform and external integration even as it concurrently experience significant political, social and economic transitions. China is highly conscious of its developing financial heft in the global trading structure, and it observed the augment of BRICS i.e. Brazil, Russia, India, China, and South Africa and G20 as revealing a larger budge in the fiscal power towards the developing world from the developed nations (Olson and Prestowitz 2011).

Challenges faced by China in Asia

China faced several threats to its independence and sovereignty occurring from the West, principally the US and China has decisively opposed them at each phase. China intensely fears American infringement over its independence as well as it is deeply conscious of the influence India holds regarding the future of Tibet as a Chinese province (Shambaugh, 2006). China sustains a policy of non-interference and harmonious development in the internal issues of other nations, China has walked out as European and US military imperialism have hit a host of trading associates of china for the primary purpose of reversing the nonviolent commercial expansion of China (Kissinger, 2012). There were challenges related to blockades, boycotts, sabotage of the nation and US attacks. China stands for a very low military expense in comparison with the US and has a huge threat from US to get hitched by the territorial attacks (Bremmer, 2013).

Changing International Order

In the consequences of the World Word II, China driven by robust anti-colonialist instincts which clashed with the extensive-power politics as well as that was observed as superpower control, calls rather than for a multi-polar domain. From the time when the Cold War was finished, China has become progressively integrated in the global order led by US (Kalb, 2015). China identified that a peaceful external surrounding has been created in which it can safely grow and develop and recognize globalization as an inevitable and optimistic trend. Thus, China has unrestricted calls for an entire renovation of the international order and instead has appeared to aid just the revision. In spite of China’s engagement with the existing global order, China remain cautious regarding the ability of the order to secure and safeguard the state’s sovereignty (Acharya, 2014). As China is still in the center of vital plan of state-building, sovereignty is the primary and chief priority. China observed the rise of innovative technologies for example, social media and cyberspace but there remains some distrust. China possesses the code of state sovereignty completely. The most prominent principle in the foreign relations of China is the safeguarding of its territorial integrity and sovereignty.

Rise of China from the ashes of humiliation and imperial plunder

To develop into the world’s 2nd leading economy, the most vital role was played by Chinese communist revolution which held in the mid of twentieth century (Petras, 2015). Both the Kuomintang “Nationalist” army as well as the Japanese imperial army was defeated by the Chinese Red Army of People’s Liberation (Snow, 2013). This permitted the development of China as a sovereign state. The additional territorial freedom of the Western colonials was abolished by the Communist government. In every sense, the modern Chinese state was initiated by the communist revolution. After a period of 150 years of huge humiliation and infamy, the people of China recovered their national dignity and pride (Wang, 2014).  For motivating and inspiring the Chinese to protect their nation from the blockades, boycotts, sabotage and US attacks these socio-psychological elements were vital and significant (Petras, 2015).

The rise of China initiated in 1949 with the eradication of the entire speculative classes and the parasitic financial which have acted like the mediators for US, Japanese and European imperialists who were challenging China of its giant prosperity (Petras, 2012). Began in 1980, the administration of China started a remarkable budge in its economic approach. For the upcoming 3 decades, China released the nation for the large-scale and huge overseas investments; thousands of industries were privatized by the Chinese Government and a process of income assimilation was initiated by the implementation of a strategy which focuses on the recreation of a leading economic class of the billionaires who were associated with the foreign industrialists. The ruling political class of China possesses the notion of borrowing technological expertise and entering the foreign markets from overseas firms in exchange for offering the workforces at cheap and lower cost (Scott, 2008).

The state of China re-directed the enormous public funding to encourage the extensive capitalist growth and development by dismantle its nationalized system of free of charge health care and public education. The government ended the public housing system grounded on subsidies for hundreds of millions of urban factory labors and peasants and offered these funds to the real estate developers for the building of office skyscrapers and lavish apartments. The elements on which the double digit growth and new capitalist approach was grounded were the huge public investments and the intense structural modifications (Shambaugh, 2013).

 

China: Trade and Investment

The constant and continuous growth of China in the manufacturing division was an outcome of extremely concentrated technological innovations, elevated profits, safeguarded domestic market and public investments. While the overseas capital earnings, it always remained under the framework of the regulations and priorities of Chinese state. The dynamic export approaches and strategies of the regime resulted in extensive trade surpluses, which ultimately made the nation one of the largest creditors of the world specifically for the US debt. For maintaining the dynamic industries of the nation, China needed a lot of incursion of raw materials which resulted in large-scale foreign investments and trade contracts with the agro-mineral export states in the Latin America and Africa. By the year 2010, China replaces Europe and the US as the leading trading associate in several nations in Latin America, Africa and Asia (Petras, 2015). The huge and great production capacity of China help the nation to arose as the world economic power. Investment and trade was administered by a policy of firm non-interference in the domestic affairs of the trading associates. China started vicious wars for oil rather than signing lucrative agreements. And China does not clash or conflict in the interest of foreign Chinese as other countries does (Miller, 2013).

Relation of China with neighbors in Asia

The emphasis of China towards the development of the bilateral association shows its huge network of colonial business societies in Asia. The development and victory of these societies, majorly in Southeast Asia and Northeast Asia, has enhanced the economic impact of China across the region. The robust presence of Chinese colonials and vital Chinese investments in the nations like the Philippines, Indonesia and Vietnam has essentially hardened tensions over regional clashes in South China Sea (Bremmer, 2013).

Rise of China towards World Power

China is developing at around 9 percent per annum as well as its services and goods are swiftly increasing in its value and quality. In contrast, Europe and the US have realized 0% growth from the year 2007 to 2012 (Petras, 2015). The technological based and innovative scientific establishments of China continuously assimilate the most recent developments from the West as well as advance them thus reducing the cost of production. China has been developed as the chief leader in the Latin America and replaced the European and US controlled global financial institutions (Li, 2009). With the growing pressure from the peasants, farmers and the workers, the rulers of China are focusing on the development of the domestic market through enhancing the social spending and wages for rebalancing the economy and to keep away from the phantom of social instability. From the present historical trends it is apparent that the US will be replaced by China as the chief economic power of the world in the upcoming decade. There are serious challenges faced by China in the phase of rising global power. China extensively lagged in war-making capability (Brzezinski, 2013). In the 19th century, the British imperialism pull down the global position of China with the help of its military power and seized ports of China as the nation highly relied on it mercantile power (Petras, 2015). China sustains a policy of non-interference and harmonious development in the internal issues of other nations, China has walked out as European and US military imperialism have hit a host of trading associates of china for the primary purpose of reversing the nonviolent commercial expansion of China (Kissinger, 2012).

The military strategies of China are getting more alarmed and aware at the increasing military risk to China. The nation has successfully stipulated a total of 19 percent enhancement in its military spending in the time frame of five years i.e. 2011 to 2015 (Petras, 2015).  Even with such an increase, still China stands for a very low military expense in comparison with the US.

The rapid buildup of capital and wealth of China was made probable with the extreme exploitation of its workforces who were shredded of their previous regulated working conditions and social safety which was guaranteed under the Communism. Huge numbers of households were dispossessed to fulfill the objective of promoting real estate developers who can then create luxurious apartments and offices for the foreign and domestic elite. These vicious characteristics of rising Chinese capitalism developed a mixture of living place and workplace mass struggle and that is increasing every year (Shambaugh, 2005).China can meet the expense of pursuing a concentrated public housing program for around 250 million migrant workforces which are presently staying in an urban squalor (Petras, 2015).

 

Reassurance efforts of China

China sustains a considerable state control it its national economic systems. This control is defended as an essential component given each nation’s relative phase of growth. In the absence of international development, China will continue to aid regional and bilateral arrangements comprising FTAs i.e. Free Trade Agreements which supports advancement of the economic goals in a way that harmonize the international efforts. China gives higher importance to the international agreements in comparison with the regional ones (Capling, 2009). China keeps on leading as the chief investor in the mineral and energy resources of Africa. It has also replaced the US as the key market for Iranian, Sudanese and Saudi Arabian petroleum and soon it will replace the US as chief market for the petroleum products of Venezuela. Presently, China is the biggest exporter and manufacturer in the world even dominating the market of US while acting as the financial lifeline as it possess around $1.3 trillion in the US Treasury notes (Petras, 2015).

Balancing Act of China

For rebalancing the economy of China, the nation has imposed a structure of progressive income taxes over the rural industries, small co-operatives and on the new millionaires and the billionaires. The various programs for developing and improving the substitute energy sources for example the wind farms and the solar panels are considered as highly promising initiation for solving the serious issues related to environmental pollution.  There is already a concern from tens of millions regarding the health issues and degradation of environment. Finally the best defense of China against the grand infringements is a constant regime grounded on the social integrity and fairness for the hundreds of millions as well as an overseas strategy of supporting foreign anti-imperialist regimes and movements, as their sovereignty is significantly in the favor and interest of China (Bremmer, 2013).

China: Aid in Asia-Pacific

In shaping the security and stability of Asia, the commitment of the Chinese leaders towards building of CNP i.e. Comprehensive National Power is a primary factor. As well as in the security and strategic order of Asia, the making of national security policy, the role of People’s Liberation Army, the greater size of armed forces, the established status in UNSC and the nuclear weapon capability of China holds a unique place (Dutta, n.d.).

Trans-Pacific Partnership and China

In the current political environment of Asia-Pacific, there are no chances that China will involve in the TPP i.e. Trans-Pacific Partnership. It is viewed as an element of the approach “pivot to Asia” of Washington and with the involvement of Japan, China is doubtful to involve in the Trans-Pacific Partnership soon. However, multilateral alliances could initiate to develop the counter to bilateral standard of China in Asia and thus this may force China to involve in TPP (Bremmer, 2013).

Asia-Pacific region: Future dynamic

In Asia, the pivot states such as Singapore, Kazakhstan, Australia and Indonesia are the ones which are most probable to perform extremely sound in this environment. These states are not excessively dependent upon the major powers and thus can utilize their associations with greater powers and authorities in their favor (Bremmer, 2013).

 

Conclusion

There are several interpretations regarding the Asia-Pacific peer distribution but primarily it revolves around the association between the US and China. The paper has depicted the Asia-Pacific power distribution in the context of China. There are various things highlighted above which depicts the power of balance of China in terms of its communist revolution, its rise as the global power and sustainability through huge dependence upon the mercantile business. Chinese government lacks in possessing efficient military support and its effectiveness but the modern China possesses several opportunities and resources which were unavailable to the nation in the nineteenth century when China was conquered by the British Empire (Gu, Humphrey and Messner, 2008). China has robust investment, financial and trading networks coating the world as well as various significant economic partners. For the constant and continuous development of China and several other nations all through the developing world these links are of high importance. For conquering China, the US will have to experience and face the resistance of numerous market-based leaders all over the world. As compared to the state of China in 18th century with its present situation, there are significant changes as the modern China is much stronger and is considered as the world power. Moreover, several Chinese academics and scholars and the huge majority of its people possess none intent of letting its present ‘Westernized compradors’ vend out the nation. The Chinese political polarization cannot be accelerate by anything as well as nothing can hasten the arrival of another Chinese social revolution greater than a fearful leadership presenting to a new age of Western imperial image (Petras, 2015).

 

References

Acharya, A., 2014. Constructing a security community in Southeast Asia: ASEAN and the problem of regional order. Routledge.

Bremmer, I., 2013. China’s Changing Role in Asia. Accessed on: 12th September, 2016. Accessed from: https://carnegietsinghua.org/publications/?fa=51590

Brzezinski, Z., 2013. Strategic vision: America and the crisis of global power. Basic Books.

Capling, A., 2009. VI. A comparison of the ASEAN-Australia-New Zealand Free Trade Agreement and P4 Agreement. Trade-led growth: A sound strategy for Asia, p.97.

Dutta, S. n.d. China’s emerging power and military role: implications for South Asia. Pp. 91-110. Accessed on: 10th September, 2016. Accessed from: https://www.rand.org/content/dam/rand/pubs/conf_proceedings/CF137/CF137.chap5.pdf

Goh, E. 2005. Great powers and southeast asian regional security strategies: omni-enmeshment, balancing and hierarchical order. Institute of Defence and Strategic Studies.Singapore. Accessed on: 10th September, 2016. Accessed from: https://www.rsis.edu.sg/wp-content/uploads/rsis-pubs/WP84.pdf

Gu, J., Humphrey, J. and Messner, D., 2008. Global governance and developing countries: the implications of the rise of China. World development, 36(2), pp.274-292.

Kalb, M., 2015. Imperial Gamble: Putin, Ukraine, and the New Cold War. Brookings Institution Press.

Kissinger, H.A., 2012. The future of US-Chinese relations: Conflict is a choice, not a necessity. Foreign Affairs, pp.44-55.

Li, M., 2009. The rise of China and the demise of the capitalist world economy. NYU Press.

Miller, M., 2013. Wronged by empire: Post-imperial ideology and foreign policy in India and China. Stanford University Press.

Olson, S. and Prestowitz, C., 2011. The evolving role of China in International Institutions. Washinton DC.

Petras, J. 2015. China: Rise, Fall and Re-Emergence as a Global Power. The Lessons of History. Accessed on: 10th September, 2016. Accessed from: https://www.globalresearch.ca/china-rise-fall-and-re-emergence-as-a-global-power/29644

Petras, J., 2012. China: Rise, fall and re-emergence as a global power.Global Research.

Scott, D., 2008. China and the international system, 1840-1949: power, presence, and perceptions in a century of humiliation. SUNY Press.

Shambaugh, D., 2005. The new strategic triangle: US and European reactions to China's rise. The Washington Quarterly, 28(3), pp.5-25.

Shambaugh, D., 2006. China engages Asia: reshaping the regional order. China: MIT Press.

Shambaugh, D., 2013. China goes global: The partial power. Oxford University Press.

Snow, E., 2013. Red Star Over China-The Rise Of The Red Army. Read Books Ltd.

Tellis, A.J. and Mirski, S. 2013. Crux of Asia: China, India, and the Emerging Global Order. Wanshigton DC. Accessed on: 10th September, 2016. Accessed from: https://carnegieendowment.org/2013/01/10/crux-of-asia-china-india-and-emerging-global-order-pub-50551

Wang, Z., 2014. Never forget national humiliation: Historical memory in Chinese politics and foreign relations. Columbia University Press.

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