China is playing a growing role in the world economy. It is one of the world's fastest growing countries and is the tenth largest exporter. Today, it is the world's second- largest economy and produces 9.3 percent of global GDP. If current trends continue, discuss the possible implications of such a development for: 1. the world trading system; 2. the world monetary system; 3. the business strategy of today's European and U.S. global corporations; and 4. global commodity prices.

China is playing a growing role in the world economy. It is one of the world's fastest growing countries and is the tenth largest exporter. Today, it is the world's second- largest economy and produces 9.3 percent of global GDP. If current trends continue, discuss the possible implications of such a development for: 1. the world trading system; 2. the world monetary system; 3. the business strategy of today's European and U.S. global corporations; and 4. global commodity prices.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 6SCQ: Suppose we extend the circular flow model to add imports and exports. Copy the circular flow diagram...

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