Economic Competitiveness of the EU in the Light of Growing Trade Essay

Economic Competitiveness of the EU in the Light of Growing Trade Expansion from China - Essay Example The study will try to understand the competitiveness by taking into consideration of the emergence of China. However, it is not possible to consider all the above mentioned aspects in accordance to their merit due to space restriction. This can be referred as the major limitation of this report. Trade Deficit between EU and China International trade between EU and China has been increased in last decade, for example, export of EU to China has been increased by 110 billion euro during the year 2000 to 2011 (Eurostat, 2012). However, import from China to EU has been increased by 173 billion euro in the same period of time (Eurostat, 2012). The trend is showing that balance of trade is declining for EU and dependency on Chinese export is increasing. Export and import deficit of EU in context to China can be depicted in the following manner. (Source: Eurostat, 2012) Although the trade deficit between for EU has been decreased from 75 billion euro to 67 billion euro in the first six month of 2012 but still the amount of deficit is large enough to impact the competitiveness of EU. After the economic recession, the trade deficit between EU and China has been improving but still the difference is large enough to affect the economic strength of EU nations. According to the above table only Germany and Finland have trade surplus to china while other European countries have trade deficit with China. However, Germany and Finland were unable to convert the trade deficit into trade surplus prior to recession. Careful analysis of the chart shows that growth rate of export from EU nations to China has been outpaced the growth rate of import from China. For example, export volume of Greece to Chine has been doubled... This essay presents a modern comprehensive analysis of the changing nature of economic relationships between China and European Union. It is shown in the essay, that China gradually improve its level of competitiveness in these relationships, by increasing its exports to the EU, to an extent with the help of such practices as protectionism, intellectual property rights violation and dumping. International trade between EU and China has been increased in last decade, for example, export of EU to China has been increased by 110 billion euro during the year 2000 to 2011. However, import from China to EU has been increased by 173 billion euro. The trend is showing that balance of trade is declining for EU and dependency on Chinese export is increasing. Although the trade deficit between for EU has been decreased from 75 billion euro to 67 billion euro in the first six month of 2012 but the amount of deficit is large enough to impact the competitiveness of EU. After the economic recession, the trade deficit between EU and China has been improving Harsh fact is that there cannot be a single recommendation which can help EU nations to improve its competitiveness in overnight manner. It is shown through that low cost advantage of China cannot be depleted easily by EU manufacturers. EU can use the concept of vertical specialisation to decrease its dependency on Chinese imports and give the domestic players some breathing space. In vertical specialisation model, EU needs to identify sectors which need immediate attention.

Brief history of the industrial revolution in America Essay

Brief history of the industrial revolution in America - Essay Example One of the events that shaped America history is the 15th amendment that prohibited discrimination or denying the right to vote by American on the excuse of race or colour (Berkin, Miller, Cherny, and Gormly, 78). This event happened after the whites had passed a legislation that disallowed people of black origin not to vote in elections. Black human rights activists, who put pressure on the government to amend the legislation opposed this move. As a follow up to the 15th amendment, a 19th one was made on the constitution that allowed women to vote in national and local elections. These amendments were made under the congressional reconstruction, which saw the southern states divided into military districts. Under this period, Andrew Johnson was impeached for violating the tenure of office act by removing Staton but the main reason was his defiance for reconstruction of the congress; 18th amendment was also enacted in 1930’s , and it banned production and sale of alcohol in Un ited States of America. Although this amendment received huge support from the masses, there were not enough police officers to enact it, and therefore the leaker takers found a way to brew their own beer. With time, the authorities found out that prohibition of production and sale of alcohol contributed a lot to law breaking, this led to the abolishment of the regulation. During the period from 1877 to 1913, United States grew in terms of industrialization to become the leading industrial nation with well-organised railroads, labour and industries; the income of non-farm workers grew by about 75 per cent by 1900 and grew further by 33 per cent by 1918. The first industrial revolution that occurred in America saw production move from artisan to factories, while the second revolution saw the expansion of the factories to in terms of size, coordination and organisation to industry level, which was facilitated by advancements in technology and improvements in transport