Educated in the United States, he worked for the World Bank and J.P. Morgan and taught at the Wharton School. Until that happens, the world will remain unstable as the U.S. aggressively tries to eliminate political diversity. How can outside investors ensure that they dont become collateral damage in a bigger political and economic war? 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. The United States takes in with high respect the principles of democracy and individualism. As to the orientation of a new era, however, the Trump administration has yet to offer any answers or insights. Recognizing that the authoritarian Marxist-Leninist system is accepted in China as not only legitimate but also effective is crucially important if Westerners are to make more-realistic long-term decisions about how to deal with or invest in the country. In the China-U.S. ideological competition during the pandemic, what the U.S. seeks is not all about U.S. leadership in the international community nor U.S. economic benefits but rather coping with its identity crisis. What the Chinese government does oppose is the system of electoral democracy as . Earn badges to share on LinkedIn and your resume. That Canada has elected communists to office, I suggest is just about as important a disparity as the American gun insanity. Its monetary policy is reasonably tight, with the yield on government bonds about 3.5 times that on U.S. Treasuries. China on the other hand practice totalitarianism and collectivism which is the opposite of democracy. 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. How accessible is it these days? We are using Google Analytics to enhance your experience. But because this is also a Leninist system, those issues are of critical importance to Chinese leaders, who wont change their minds about them, however effective or helpful their foreign partners are economically. Canadian jurisdiction is the opposite; if it's not left to the Provinces, it's most likely the responsibility of the federal government. (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. The United States has a democratic system, but in countries . Exploding unemployment exposed the wide wealth gap in U.S. society. Under the pressure of aggregated economic inequality brought by globalization, and the army of unemployed people already displaced by new technologies, the U.S. government faces severe structural constraints under the present model of state-market and state-society interactions. The differences between people of different cultures far outweigh their similaritiesI believe that differences in people of different cultures far outweigh their similarities.. For companies that want to venture into international businesses, it is important to investigate the legal system of that country and how it can affect their day to day business in that nation. Economic and macro-political changes happening globally is something that international business management must consider before doing business since it will influence the decisions that they make regarding their business. Additionally, the paper will also give examples of economic and macro-political changes and show why market-based systems are being adopted by transition economies. But its also conspicuously different: The concept of U.S. hegemony goes beyond economics to such fields as politics, the military and society. Access more than 40 courses trusted by Fortune 500 companies. Only a sudden surge of such events would herald an economic crisis. Even though both countries are different in every way, they are still recognized as each others competition in the International Arena. Examination of School Shootings and Student Safety from International and Non-International Armed Conflict, Comparison Between Democracy Vs. Diversity is naturally occurring, whether it be among ethnicities, religions, governing systems or whatever else. Even though China is diverse in its ethnic groups, it is still a relatively high homogenous group, which is also reflected in its politics. Beijing ICP prepared NO.16065310-3, China vs. America: Political diversity vs. political conformity. Are you seeing a significant shift in supply chains out of China? Access more than 40 courses trusted by Fortune 500 companies. Chinas Good War: How World War II Is Shaping a New Nationalism. Bidens proposals have been criticized as new wine in old bottles, and a kind of tinkering; Trump is regarded by Henry Kissinger as marking the end of an old era. With its democratic society, the U.S. is unable to prevent financial capitalism from swelling, or to take dramatic action against vested interests to formulate a model under which finance and industry mutually optimize and complement one another. Until Western companies and politicians understand this and revise their views, they will continue to get China wrong. Our firm, PAG, invests throughout Asia and occasionally beyond. The Trump administration, however, has focused on U.S. economic interests, putting the pursuit of hegemonistic benefits in a secondary position. 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 Marxist system is concerned primarily with economic outcomes. (2016). For any deep analysis of the ideological aspects of the China-U.S. rivalry to be complete, two questions need to be answered: What political interests do the ideologies serve, and in what forms are they presented? It seems that the only country that can stifle Chinas growth is China itselfif it makes major policy mistakes. They dont know how socialist it is, with its Social Security system and its policies to tax the rich by collecting capital gains taxes. In fact, the Chinese word for the resolution of a conflict (jiejue) can imply a result in which one side overcomes the other, rather than one in which both sides are content. Each branch of the government plays an important role in providing for the countrys citizens by creating laws and policies that are meant to make the living standards of the citizens better and provide them with safety and rights. Chinas saving rate will drop significantly as its population ages, and investment will slow. Regardless of who wins, it is unlikely that one of the . The pandemic has added urgency, but American politicians appear not to have found the answers. This shapes the way they make long-term commitments, especially those that entail short-term trade-offs or losses. 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.. First, the similarities among both countries institutions would be the hierarchical construction of their judicial system; the separation of three branches of . This suggests some obvious hypocrisy on the part of the Biden administration and perhaps even a lack of sincerity with respect to the domestic causes that it supports. Retrieved from https://proessays.net/essays/economic-and-political-differences-china-vs-united-states. In November 2020 Chinas trade surplus with the U.S. was 70% greater than it had been in January 2017, when Donald Trump took office. If a business is successful, its usually open to taking outside capital so that it can quickly expand nationwide. 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 differences in political beliefs led to the formation of a two-party system in the United States, contrary to George Washington's wishes. In the early days of the outbreak, the Trump administration tried everything possible to downplay the severity of the situation attempting to secure the economy and votes in a presidential election year. The major focus of government expenditure is domestic infrastructure. Chinas GDP is forecast to grow 7% to 8% this year. When we first traveled to China, in the early 1990s, it was very different from what we see today. 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. HBR: Chinas economy seems to be the healthiest in the world at the moment. Believing, for example, that political freedom would follow the new economic freedoms, they wrongly assumed that Chinas internet would be similar to the freewheeling and often politically disruptive version developed in the West. We will write a custom Research Paper on Political system comparison between India and China specifically for you. Although many in the West may believe that China sees only opportunity in its 21st-century global plans, its motivation is very different. This paper will compare two great countries the United States and China by looking in details how and why their legal and political systems differ, explain what determines the level of economic development in each country. But surely gun shops being essential service during a huge medical virus shutdown is the height of insanity at this moment on this planet. Some of these challenges are brought about by differences in legal, political and economic systems of different countries. Great challenges lie ahead. Thats not likely, precisely because in Chinas particular brand of authoritarianism, control is key. The political system of China has been operational since its establishment for 50 years. They still blame foreign interference for many of their misfortunes, even if it occurred more than a century ago. Until Western companies and politicians accept this reality, they will continue to get China wrong. Which serves U.S. interests better, a free and democratic China, or an authoritarian China that identifies with U.S. leadership? Decisionsby both individuals and the stateabout how to invest all serve one purpose: to provide security and stability in an unpredictable world. Chinas rapid economic growth is the result of its embrace of a market economy and private enterprise. 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. When U.S. power interests change, so does the ideological cover, the most typical being the liberal ideology having come to an end and the U.S. coming up with the notion of fair trade. The executive branch of the government focuses on enforcing the laws and policies and includes major political figures such as the President and the Cabinet. Some manufacturing has been relocated away from China since the trade war with the U.S. began in 2018, but that hasnt made a dent in either Chinas exports or Americas trade deficit. Jimmy Dore delivered a monologue on the history of the Russia-Ukraine conflict and how a "tiny cabal" are using the situation for profit on Friday's broadcast of 'Tucker Carlson Tonight' on FOX News. China uses its particular authoritarian modeland its presumed legitimacyto build trust with its population in ways that would be considered highly intrusive in a liberal democracy. U.S. self-identification has been shaken under these circumstances. Solinger, D. J. And the narrative has had some powerful supporters. Reforming Sino-American Cultural Exchange for the Better. After all, each is the others largest trading partner, and China has lent more than $1 trillion to the U.S. government by holding U.S. Treasury bills. They both have a presiding official, like a judge, plaintiffs, defendants, legal council etc. The executive branch of the government holds the highest position of head of state and the cabinet as well, which is appointed by the National Peoples Congress. Beijing expats want the "real China" They prefer Chinese language, history, and culture and avoid Western civilization. This, of course, mirrors the role of U.S. defense and intelligence spending in the development of Silicon Valley. - Quora Answer (1 of 17): Americans hold the individual in the highest regard, whereas Chinese hold the community in the highest regard. Meanwhile, American consumers have paid for the higher tariffs, because the average prices of Chinese exports havent decreased. A Leninist approach to selecting future leaders is also a way the CCP has maintained its legitimacy, because to many ordinary Chinese, this approach produces relatively competent leaders: They are chosen by the CCP and progress through the system by successfully running first a town and then a province; only after that do they serve on the Politburo. What is it that Americans dont understand about China? They dont know how capitalist China is. That, perhaps, is why its current president and (more crucially) party general secretary, Xi Jinping, has let it be known that he considers Gorbachev a traitor to the cause for liberalizing as he did, thereby destroying the Communist Partys hold on the USSR. This means that business contracts are not usually detailed in China since the civil codes do not cover most laws. Shan: Despite initial blunders, China has handled the coronavirus pandemic well through strict lockdowns and mass testing. Some have expressed optimism that Chinas need for control will lessen after theyve proved their worth as partners. Thats why China is the most active private-equity market in Asia. There are two political theories that are needed in the discussion, the elite and the pluralist theory. There are two political theories that are needed in the discussion, the elite and the pluralist theory. However, there are usually lawful ways to get around that. What are the biggest risks for Chinas economy in the coming years? As the author Yuval Noah Harari has pointed out, liberalism has had few competitors since the end of the Cold War, when both fascism and communism appeared defeated. Pundits tend to be alarmed by a default here and there. China has stolen American jobs, the thinking goes, so we oppose China. 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