China's Economic Relationship with the Unites States Research Paper

China's Economic Relationship with the Unites States - Research Paper Example As a matter of fact, it would not be an exaggeration in stating that there is hardly any developing economy that has displayed substantial growth without the assistance of an advanced country. The technological and commercial strength of a rich economy is more or less imperative for a developing country in realization of its full potential. In the contemporary global economic landscape, China is the leader amongst all developing countries in terms of registering the fastest growth rate. That the country (China) has established economic ties with various developed economies in no way takes away the credit from the committed endeavors of the Chinese Government. The government of China has been initiating many measures, some of which may not be pleasing to the country’s denizens. Nonetheless, these initiatives can be considered to be indispensable for the long-term prosperity of the country. This could be conveniently compared with an analogy that a bitter medicine, despite its repulsive taste, is imperative for the recovery of an ailing person. In fact, it is this very courage of the government in taking bold and concrete steps that is lacking in most of the other developing economies. In these regions there are numerous social, economic and cultural factors that have turned out to be serious impediments in growth -related pursuits. But as discussed earlier, the Chinese Government gives more importance to the overall growth and prosperity of the country, rather than concentrating on populist schemes that just please the citizens. That most of these measures jeopardize the long-term economic interests of the country warrants no special mention. The committed endeavors of the government, coupled with strategic alliances with prosperous economies have ensured that China now holds the number one position in all developing regions of the globe. The history of the relations between both the countries is rather complex, as it