Once upon a time, Jim O'Neill, head of economic research at Goldman Sachs, signed the report which is considered as the birth act of the BRIC's concept. Today, each BRIC countries are not equal. As David Rothkopf wrote in 'Foreign Policy': "Without China, the BRICs are just BRI, a bland, soft cheese that is primarily known for the whine that goes with it". So we will focus this paper on this biggest potential market which is China and more especially on the evolution of their globalization strategy which led to the emergence of this economic giant without which BRIC would be tasteless. We define with Laurent Carroue's help, globalization as a geo-historical process of gradual extension of capitalism to the entire global space.
[...] The unemployment rate in China increased from to 4.3 which mean for a country as populated an increase of nearly 3 million of unemployed. At the same time, wages began to stagnate because employees now accept lower wages for equal work. The property sector is also in crisis even if sales resume gradually at the beginning of 2009. The profitability of Chinese industrial sector once so envied is still being reduced to such an extent that some companies like Farouk Systems, king's hairdryer U.S., liquid partnership in Shenzhen to open its plant in Houston. [...]
[...] On the monetary side, significant cash flows support the large increase in bank loans. The government has also taken several initiatives to strengthen the role of the Yuan in finance and international trade. Moreover, budget deficit will be arranged through issuing government bonds (the ratio of budget deficit to GDP will reach about in 2009, compared to in 2008). Central government will also issue bonds on local governments to fill the fall in financing local projects while banks lending will be the main source for local governments. [...]
[...] Princeton N.J.: Princeton University Press GILBOY, George J Myth Behind China's Miracle”, Foreign Affairs, vol83, LIANG, Wei “China: Globalization and the emergence of a new status quo Asian perspective, Vol31, LIST, Friedrich Nationale System der Politischen Okonomie” (The National System of Political Economy), First published in 1841, French edition in 1998. http://www.econlib.org/library/YPDBooks/List/lstNPE29.html#Book III, Chapter 29 (accessed 7 December 2009, translation in English) MEARSHEIMER, John J“Better to be Godzilla than Bambi” in Zbigniew Brzezinski and John J. Mearsheimer, “Clash of the Titans”, Foreign Policy MAYEUR, Arnaud Chine et l'Inde à l'assaut du monde” (China and India to conquer the world), French Universitary Press NYE, Joseph S. [...]
[...] When these two are combined a state can be called developmental. So China is really a developmental state and it is more obvious to define its strategy of globalization under consideration of LIST's teachings. However, LIST is the only theorical sources that we can and we will use. He was considered as a real precursor also because is theory recover some parts of both realism and institutional neoliberalism which basically combined two of the three level of Kenneth WALTZ's analysis. [...]
[...] Very large exporter partly responsible for the US trade deficit, GDP's growth rate with two numbers, China has the world largest stock of liquidity with nearly 1400 billion dollars while Japan in rank 2nd has only 900 billion dollars. The 2008 Olympic Games of Beijing approaching, the future looks bright despite the difficulties of some public enterprises that struggle to be profitable. The road will make China the largest economy in the world seems marked. The economic crisis will not detract from the picture but really makes the track a bit more tortuous. [...]
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