The United States is regarded as the largest national economy of the world in its nominal terms, and in accordance with its purchasing power parity, it is the second largest (Henderson, 2014). The GDP of the country in the year 2015 was 17,947.0 billion dollars (Bureau of Economic Analysis, 2016). Whereas China is regarded as second largest economy of the world in terms of nominal GDP, and the largest economy of the world in terms of purchasing power parity (Lei & Yao, 2008) . Further, according to Tse (2010), China is the fastest growing economy in the world. The industries ...
Essays on People's Republic Of China
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On February 9, 1950 unknown senator from the State of Wisconsin Joseph McCarthy, shaking by a sheet of paper, stated thaat he have declared on meeting in Wheeling (West Virginia) that he has a list of 205 persons who are known to the state secretary as members of communist party and who, however, continue to work and formulate policy of State Department. (Caughey, 68) He has made similar statements also in other cities of the country. The right-wing press and other mass media have picked up these charges. The name of senator soon became a banner of political reaction ...
Although China is known to be the home of the world's ancient and most continuous culture, it has experienced many institutional changes since the Communist regime came into power in 1949. In China, foundation of hierarchy and family, social set up was based on relational norms that were expounded by Confucius and Tang Dynasty's legal codes. Such an institutionalized relational kind of logic has shaped the society whereby the order is based on the social obligation to the authorities and family as opposed to the protection of individuals. The country’s history has been marked by two intertwined social ...