Transformation of China to a Research Proposal

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The market reform process in China is proceeding at a slow pace, in order not to shock the economy. This also gives China the time to progress along the learning curve as it brings in talent from more developed Asian countries and from the West in order to help Chinese managers adapt to capitalistic business practices. Over time, however, China will need to loosen its restrictions, which could have severe negative ramifications for future economic development in the country.

This is significant to myself and my generation for two reasons. One is that there is strong demand for Western business acumen in China. This can provide significant opportunities for people such as myself to work in China or invest there, thereby gaining from that nation's strong growth.

However, there is also the threat posed by China's economic development. It threatens to slow the U.S. economy, to increase taxes for debt service and could impact on government infrastructure spending levels, further stunting America's economic progress.

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The trade deficit with China must be curtailed in order to ensure future economic stability, reduce volatility in the U.S. dollar, to allow domestic savings rates to increase and to ensure that taxes and inefficiencies are kept to current levels.

How China manages its future development is critical. We can all benefit from the growth of that market. China needs to invest its newfound wealth, however. It needs to develop the education infrastructure that allows it to have the confidence to float the yuan. It needs to build a social safety net to allow its citizens to lower their savings rates. Without these things, the trade deficit with China will only grow, creating an economic crisis for which my generation will eventually need to pay......

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