Global Business Management
Instructions
If current trends continue, China may be the world's largest economy by 2030. In a concise and well-noted statement, discuss the possible implicators for a) the world's trading system, b) the world's monetary and currency exchange systems, and c) global commodity systems.
Answer
Indeed, China is poised to become the largest economy in the world by 2030. Its development is likely to affect various economic sectors. One of the areas that will be affected significantly is the worlds trading system. As the worlds largest economy, China will start receiving several benefits and investment opportunities from the World Trade Organization (WTO). Multilateral trade agreements and tariffs will be changed in favor of China. These tariffs will have a positive impact on China as they will affect its growth and investment views. On the downside, China might engage in trade wars with currently leading economies, such as the United States, which will strive to ensure that they maintain their pole position. With China becoming the leading economy, its currency (the Yuan) might sur...
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