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2. China’s Future Development: Challenges and Opportunities
- Author:
- James A. Dorn
- Publication Date:
- 01-2019
- Content Type:
- Journal Article
- Journal:
- The Cato Journal
- Institution:
- The Cato Institute
- Abstract:
- 1978 has been erratic, with many interruptions along the way. The end result, however, has been eye opening: the Middle Kingdom has become the world’s largest trading nation, the second largest economy, and more than 500 million people have lifted themselves out of poverty as economic liberalization removed barriers to trade. One of the enduring lessons from China’s rise as an economic giant is that once people are given greater economic freedom, more autonomy, and stronger property rights, they will have a better chance of creating a harmonious and prosperous society (see Dorn 2019). Nevertheless, China faces major challenges to its future development. There is still no genuine rule of law that effectively limits the power of government, no independent judiciary to enforce the rights promised in the nation’s constitution, no free market for ideas that is essential for innovation and for avoiding major policy errors, no competitive political system that fosters a diversity of views, and a large state sector that stifles private initiative and breeds corruption. China’s slowing growth rate, its increasing debt burden, environmental problems, and the increasing tension in U.S.-China relations compound the challenges facing Beijing.
- Topic:
- Development, Economics, History, and Trade Liberalization
- Political Geography:
- China and Asia
3. A Free Trade Agreement Could Benefit the U.S.-Brazil Trade Relationship
- Author:
- Peter Sufrin
- Publication Date:
- 11-2019
- Content Type:
- Journal Article
- Institution:
- American Diplomacy
- Abstract:
- According to a recent State Department report, the United States is Brazil's second largest trading partner, and Brazil is the U.S.'s ninth largest trading partner. Not until the 1990s did the Brazilian government address trade liberalization, privatization, competition, and productivity as a way to increase commodities exports, and promote growth in imports of manufactured products. The possibility for further cooperation exists, particularly in the realm of Foreign Direct Investment, patent law, and a double taxation treaty, and with initiatives such as a U.S.-Brazil Commission on Economic and Trade Relations, a Defense Cooperation Dialogue, an Infrastructure Development Working Group, and an Economic and Financial Dialogue.
- Topic:
- International Relations, International Cooperation, International Trade and Finance, Treaties and Agreements, Alliance, Trade Liberalization, Free Trade, and Exports
- Political Geography:
- Russia, China, India, South Africa, Brazil, Latin America, and United States of America