Example research essay topic: Trade Surplus Human Rights - 641 words

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This shows Chinas increase integration with the world economy and China has now become a major trading nation due to globalisation, ranking eighth in the world as an exporter of manufactured goods. China runs a large current account trade surplus, which rakes in over 40 billion US dollars each year. This figure is ever increasing and doesnt look to be slowing down. China also has a low net external debt to GDP ratio of 16. 6 % and receives a great deal of foreign investment funds, which are used to finance export industries.

This allows China to maintain large foreign currency reserves and receive technology transfers from industrial countries. Globalisation has also led China to increase and improve banking facilities, which have led to network banking; establishment of stock exchanges and a more sophisticated capital market. The emergence of a financial market has also occurred due to globalisation, as China is looking much closer to a market economy. Financial markets are needed to control the money supply, with a reasonably tight fiscal policy and credit policy, this lead China to create a bond market, offering bonds with attractive interest rates to soak up excess money that threatened to fuel inflation. Chinas trade partners have also risen dramatically due to globalisation, as in 1950, China had only 60 trade partners, now it China has 227. Globalisation has clearly given Chinas people a much-improved lifestyle.

In 1978 250 million Chinese lived in absolute poverty and this amazing dropped to around 20 million now because of globalisation. The effective date of legislation, though, is "no earlier than the effective date of China's accession to the WTO. This is because if China were to be excepted into the WTO, under the General Agreement on Trade and Tariffs (GATT) Article I, the U. S. would have to grant general most-favored-nation treatment of all WTO members, including China.

Included in this legislation, though, is a provision for the establishment of a Congressional-Executive Commission to monitor and report on China's human rights issues and observance of WTO commitments, the establishment of a task force to monitor and enforce the U. S. anti-slave-labor statute in China, and the establishment of programs to develop programs to develop Chinas commercial and labor law. This progression of legislature is not without consequences. The status of permanent MFN is one that the U. S.

bestows on its democratic allies, such as Great Britain and Canada, which are held to very high standards. For the U. S. to advocate and grant China a WTO membership, it would mean U.

S. affiliation with Chinas countless violations of human rights, its unfair trade practices and obstacles to market access, lack of legal and regulatory transparency, its uncooperative attitude in weapons and nuclear nonproliferation, suspected nuclear espionage, and alleged illegal Chinese donations to the Democratic National Committee. This is clearly, ethically and politically, unacceptable. Trade relations with the U. S. should be contingent upon worker rights, human rights, religious rights, and, overall, ethics not politics.

Giving up the yearly renewal of MFN status for China takes away all the economic leverage the U. S. previously had because the U. S.

buys about 40 % of Chinas exports. It doesnt seem that Clinton is going about this in a way that advances the cause of freedom, and enables a peaceful transition to freedom and democracy (President Clinton in relation to the Cuban embargo, 1996). Judging from Chinas history of unfulfilled promises of reform, in fact, by continuing on the current political path, China might be allowed to amass a trade surplus with which it can re stabilize and empower its communist regime by promising very low wages, unsafe workplace conditions, prison labor, and permanent access to the U. S. market.

Even recently, Chinese officials have said things indicating no intention to stick to their end of the bargain.

Research essay sample on Trade Surplus Human Rights