In this lesson you will use a variety of print, video, and electronic media to learn about China 's place in world economy. You will examine how China is fast becoming a giant consumer of the world's factors of production. You will look at China 's population and determine how many resources China will need in the future to sustain its growth.
China is fast becoming an economic super power. How has China developed in this way? When you have completed this lesson you will have a better understanding of China's current position in the world economy. You also will learn how the rise of China may impact the United States .
Use the economics resource AMOSWeb
to define the following terms: purchasing power , factors of production , economic growth , and standard of living.
Visit the PBS NewsHour article China Boasts the World's Fastest Growing Economy and either watch the video or listen to the pod cast about China and its progress toward becoming a world economic super power. Fill in the video guide as you watch or listen to the segment.
Use the CIA World FactBook to find out what the positive and negative aspects of China 's economy are, according to the CIA World Fact Book.
List three factors that are influencing the Chinese economy in a positive way, according to the CIA, and three factors that are influencing China's economy negatively.
China is becoming a dominant force in the world economy. China 's purchasing power is on the rise, compared to that of the United States and other countries. China is not only exporting more goods and services; increasingly, it is exporting high-tech goods like computer chips.
Also, China is becoming a more consumer-oriented society. Chinese incomes are on the rise. The Chinese people are purchasing more cars, and there now are several Wal-Mart stores in China. China's growth is unprecedented in the history of economics. With children in China learning English, and China competing with the United States for production resources, China is no longer a poor communist country trying to survive. China is emerging as an economic superpower, ready to compete in the world economy.
List three factors of production that China is using to help its economy grow. Give an example of each from the video or from your reading in this lesson.
Give two reasons or indications to show why or how China is becoming more consumer oriented within its own economy.
Assume that you are a journalist. Write a short article (three to five paragraphs) about China 's economy. Explain the recent changes in China 's economy. Also explain where the Chinese economy seems to be headed.