Chinas innovations had a great impact on how the world runs today

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Chinas innovations had a great impact on how the world runs today

I tried first to explain to a group of senior Chinese business leaders visiting Wharton why China is often viewed negatively in America today.

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Then came the easier part for me with them, but what I suspect is a harder sell with Americans: I began by outlining to my Chinese colleagues the economic context in the US—stagnant incomes sincereaching way up the income distribution—that has focused minds on the loss of good jobs and the rise of contingent employment in middle America.

I have long been struck with how grown up senior government leaders on both sides have been when it comes to living with their differences, focusing on the importance of engaging with each other, and always looking for win-win opportunities.

This difference in historical perspective matters psychologically and culturally. But it also really matters economically. China was the world largest economy from about until It was only then that first Europe and then the U.

Fast forward to today. China is not an economic upstart; it is merely returning to its natural place atop the global economic order. Focus less on the trade deficit with China and more on the importance of the Chinese market The trade deficit the U.

China lends the U.

Chinas innovations had a great impact on how the world runs today

There is real truth to this syllogism, and it certainly fan the flames of anti-China sentiment in the U. But international economists are adamant the bilateral trade deficit is actually beside the point economically. They are right too. Apple is of course not only big; it is also very profitable.

Now multiply those per device profits by the size of the Chinese market for Apple. China is a very new good news for Apple, and for America. Every Apple device assembled in China that is shipped to America only shows up as adding to the U.

Good news for GM corporate, workers and shareholders. But, no positive impact on U. Because the cars and trucks GM sells in China are made in China again, often with imported partsnot Detroit.

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But it is very real, and the Chinese market really matters—for an iconic American company of the 20th century, GM, for an American icon of the new millennium, Apple, and for so many other American companies. But the best way to sell in China is to be in China.

Just as foreign firms like Toyota know the best way to sell in America is to be in America. Embrace co-dependence with China as good for the economy and for geopolitical stability There is no doubt the Chinese economy needs America—American products, American knowhow, American capital.

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And in the future, more as a source of foreign investment. Add to this all the trade and all the Treasurys. Political scientists often talk about economic interdependence. I think when it comes to U.

And of course the world needs its two biggest economies too. China and the U.

Chinas innovations had a great impact on how the world runs today

China turns innovations into growth at gargantuan scale. But to paraphrase Immanuel Kant, this economic co-dependence is also critical for geopolitics. There is so much at stake, both countries, in the China-U.

But the incentives to manage them are irresistible. View the original post here.The technology behind lab-cultured meat products is rapidly advancing.

When we start seeing these kinds of products being sold right alongside their traditionally farmed cousins, we should look more at the contentious topic of the impact livestock farming has on the environment.

The median IQ for “Indians” has been notoriously difficult to pin down, largely because “Indian” is a fictitious race (and “India” is a fictitious country), but they exist today.

Taiwan in English. Your daily look at late-breaking news, upcoming events and the stories that will be talked about today - Many great civilizations have come and gone and have left a lasting impact in our world.

However, very few have had such a lasting impact in world’s history like ancient China and Greece. Both civilizations have influenced us tremendously and have given us much knowledge that guides how we think, behave, and live our lives.

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Fort of Devagiri (Muslims renamed it to Daulatabad) Devgiri/Daulatabad (meaning “City of Prosperity”), is a city in Maharashtra, India, about 16 kilometers northwest of place was once known as Deogiri, (circa the sixth century AD, when it was an important uplands city along caravan caninariojana.coms had capital at Devagiri fort, perhaps the strongest fort of India.

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