why China may not become the new financial superpower. What is your view on what policies should China follow? Why?

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Describe the reasons why China may not become the new financial superpower. What is your view on what policies should China follow? Why?Plz Plz use economic theory!

Support your position by making an argument based on sound economic reasoning.

More details is written in the word document. Several article need to read, link attached in the word doc.

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Op-‐Ed Writing Assignment PURPOSE The Op-‐Ed page in a newspaper or news website is the page opposite the editorial page, usually devoted to opinion and commentary as opposed to straight news. It is a public forum where columnists and readers can comment and debate. Similar commentary and debate now appears in blogs. One of the goals of this course is to help you understand and develop your own opinions. Part of your role as an informed citizen involves making sound arguments about economic issues that matter to you and communicating these arguments effectively to others. This assignment will give you practice developing a convincing written argument about an economic issue for a general audience. TASK Read the article on https://www.economist.com/finance-and-economics/2017/10/14/theinternationalisation-of-chinas-currency-has-stalled (Links to an external site.) Links to an external site. and the article on https://www.cfr.org/blog/china-new-financial-superpower (Links to an external site.) Links to an external site. More article recourse : https://www.economist.com/finance-and-economics/2019/03/14/chinas-current-account-surplushas-vanished https://www.cnbc.com/2018/09/09/chinas-trade-surplus-with-us-grows-to-new-record-inaugust.html In response: Describe the reasons why China may not become the new financial superpower. What is your view on what policies should China follow? Why? Support your position by making an argument based on sound economic reasoning. FORMAT Your commentary should be 300-‐500 words, which is 1-‐2 pages typed, double-‐spaced. Assignments that are shorter or longer will lose marks. The last item in your commentary should be a word count in parentheses – e.g. “(490 words).” Prepare your assignment in any format – you will submit it by cutting and pasting what you write into a text box in Canvas. No pictures or graphs can be included. All words. AUDIENCE Your audience is the general reading public. Assume your audience has some education and background in current affairs and understands basic economic concepts, but is not knowledgeable about the details of economic theory or policy. In other words, you’ll need to explain any economic concepts you address in a way that keeps their interest and respects their intelligence. Your audience is not the professor or the TA. THE ECONOMIST STYLE GUIDE In order to capture your reader’s interest and respect their intelligence, you will need a catchy title and to write more like a journalist than an academic. The posted writing examples will give you some guidance. To help you further, I am reproducing much of the Style Guide of The Economist Magazine. The Economist is widely recognized as the world standard for economic journalism. The complete Style Guide is at http://www.economist.com/styleguide/introduction. (Links to an external site.) Links to an external site. I also recommend you read a few articles in The Economist to get a feel for their writing. Look at the Table of Contents of any issue to get a feel for catchy titles. The first requirement of The Economist is that it should be readily understandable. Clarity of writing usually follows clarity of thought. So think what you want to say, then say it as simply as possible. Keep in mind George Orwell's elementary rules ("Politics and the English Language", 1946): 1. Never use a Metaphor, simile or other figure of speech which you are used to seeing in 2. Never use a long word where a short one will 3. If it is possible to cut out a word, always cut it 4. Never use the Passive where you can use the 5. Never use a foreign phrase, a scientific word or a Jargon word if you can think of an everyday English Readers are primarily interested in what you have to say. By the way in which you say it you may encourage them either to read on or to give up. If you want them to read on: Do not be stuffy. “To write a genuine, familiar or truly English style”, said Hazlitt, “is to write as anyone would speak in common conversation who had a thorough command or choice of words or who could discourse with ease, force and perspicuity setting aside all pedantic and oratorical flourishes.” Use the language of everyday speech, not that of spokesmen, lawyers or bureaucrats (so prefer let to permit, people to persons, buy to purchase, colleague to peer, way out to exit, present to gift, rich to wealthy, show to demonstrate, break to violate). Pomposity and long-‐windedness tend to obscure meaning, or reveal the lack of it: strip them away in favour of plain words. Do not be hectoring or arrogant. Those who disagree with you are not necessarily stupid or insane. Nobody needs to be described as silly: let your analysis show that he is. When you express opinions, do not simply make assertions. The aim is not just to tell readers what you think, but to persuade them; if you use arguments, reasoning and evidence, you may succeed. Go easy on the oughts and shoulds. …. Do your best to be lucid (“I see but one rule: to be clear”, Stendhal). Simple sentences help. Keep complicated constructions and gimmicks to a minimum, if necessary by remembering the New Yorker's comment: “Backward ran the sentences until reeled the mind.”…. Long paragraphs, like long sentences, can confuse the reader. “The paragraph”, according to Fowler, “is essentially a unit of thought, not of length; it must be homogeneous in subject matter and sequential in treatment.” One-‐sentence paragraphs should be used only occasionally. Clear thinking is the key to clear writing. “A scrupulous writer”, observed Orwell, “in every sentence that he writes will ask himself at least four questions, thus: What am I trying to say? What words will express it? What image or idiom will make it clearer? Is this image fresh enough to have an effect? And he will probably ask himself two more: Could I put it more shortly? Have I said anything that is avoidably ugly?” Scrupulous writers will also notice that their copy is edited only lightly and is likely to be used. It may even be read. Given the short length of your assignment compared to most academic papers, here are some additional writing tips. • Make your main point early on; unlike an essay you don’t need a long • Support each point with evidence, such as a statistic, example, or economic · Make clear the economic concepts and reasoning on which your argument is based. • With only 1-‐2 pages, you should have 3-‐6 paragraphs. If you have more or fewer paragraphs, consider reviewing your text structure. OP-‐ED SOURCES For examples of commentaries you might use as models for you own commentary, try the following sources. Globe and Mail Report on Business Commentary http://www.theglobeandmail.com/report-‐ (Links to an external site.) Links to an external site. on-‐business/commentary/ The Star Opinion Pages http://www.thestar.com/opinion (Links to an external site.) Links to an external site. Financial Post Opinion http://opinion.financialpost.com/category/opinion/ (Links to an external site.) Links to an external site. Especially FPComment http://opinion.financialpost.com/category/fp -‐ (Links to an external site.) Links to an external site. comment/ Wall Street Journal The best source for conservative (hands-‐off) opinions on economic issues, but you must pay for access. http://online.wsj.com/home-‐ (Links to an external site.) Links to an external site. page New York Times Economix Blog http://economix.blogs.nytimes.com/ (Links to an external site.) Links to an external site. Seven different economists – on the left and the right – contribute to this blog, along with New York Times economics reporters. EVALUATION: Excellent Title, Introduction, Audience, & Background Information Good Competent Problematic 30 23 15 10 Title & intro get reader’s attention. Aimed at appropriate audience. Clear title and intro, but needs to be more interesting. Boring title and/or too long/short intro. Appropriate audience questionable. Unsatisfactory or missing title and/or intro. Right amount of background information. Mostly aimed at appropriate audience. Some background information. Minimal or excessive background information. Pts Wrong audience. Missing relevant background information. 35 40 Argument somewhat Fairly clear, convincing confusing. Clearly stated argument. Adequate use argument, concepts. Weak in defining, of concepts. Presents and effectively applying concepts. Adequate counterrefutes Missing counterargument and counterargument. argument or refutation. refutation. Reader convinced by at Supporting 2 reasons/examples, least 2 solid reasons/examples weak although may leave reasons/examples. or < 2. questions for reader. Reader left confused. 20 50 Economic Argument, Counter- argument, Concepts & Evidence No clear argument. Confused or no use o economic concepts. No counter- argumen Poor quality and few any, supporting reasons/examples. Reader unconvinced and/or put off. Organization 13 10 8 6 & Flow Each main point is written in a separate paragraph, in a logical order. Each reason is written in paragraphs, but not necessarily separate. Closing gives a fairly clear and convincing call to action. Reasons are not written in distinct paragraphs. Closing gives a call to action, although not well supported. Reasons are not writt in good paragraphs an have questionable order. No clear or convincing call to action at close. 5 4 3 Mostly easy to read. Mostly short, clear, correctly structured sentences with active voice. Sentence/word problems get in the way of understanding and interest, distracting reader. Significant sentence/word problems make it har to understand argument. A few minor language errors. Some passive voice and/or jargon. Considerable passive voice and/or jargon. Article closes with a clear and convincing call to action. 7 Pleasure to read. Writing enhances Writing – Clarity, understanding and Conciseness, Sentence interest. Short, clear, Structure/ Grammar, correctly structured Active Voice, interest to sentences with active Reader voice. Minimal (<2) language errors. Total This assignment is designed to help you learn to make reasoned economic arguments and write clearly, convincingly, correctly, and concisely. You will be evaluated largely on how effectively you do so. The rubric is attached below Course Relative Material: OUTLINE INTRODUTCION (2 weeks) National Income accounting review Balance of Payments Krugman, Obstfeld and Melitz, Introduction and Ch. 1 Twin deficits hypothesis EXCHANGE RATES (3 weeks) The Foreign Exchange Market Interest rate parity and exchange rates. Krugman, Obstfeld and Money, Interest Rates, and Melitz, Ch. 2 and 3 Exchange Rates Exchange rate overshooting PURCHASING POWER PARITY (2 weeks) Absolute and relative purchasing power Price levels and exchange rate in the long run Real exchange rate Real interest rate parity Krugman, Obstfeld and Melitz, Ch. 4 OUTPUT AND THE EXCHANGE RATE (3 weeks) DDAA model of output and exchange rate Krugman, Obstfeld and Monetary and fiscal policy Melitz, Ch. 5 Effects of policy on current account FIXED EXCHANGE RATE (2 weeks) Fixed exchange rates Foreign Exchange Intervention Krugman, Obstfeld and Melitz, Ch. 6 Currency crisis ...
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Financial Supremacy- China and its Ambitions



Becoming a financial superpower is demanding, and as the US, which is the world’s
superpower knows, it is expensive. China has made economic and financial developments over
the past few decades, and in the eyes of many economic experts, it is a regional financial
superpower in Asia. According to Champion and Leung (2018), becoming a superpower is
having the capacity to dominate and influence any region in the world in military, economic, and
political terms. The GDP of China today stands at $12.24 trillion, which is much lower as
compared to the US with $19.39 trillion (Brooks & Wohlforth, 2016). There are several
determinants of a country’s ability to reign supreme economically, the national income, balance
of payments, foreign exchange rate, interest rates, and purchasing power parity, among others.
Despite its deep pockets and financial ambition, China may not achieve its goal of becoming the
financial superpower in the world. The purpose of this essay is to describe the reasons why
China cannot become the financial superpower it hopes to be and the policies it could use if it
must achieve that goal.
Troubles Surrounding China
The pockets if China run deep and its ambition of becoming an economic power could
succeed only that, China has serious economic troubles at home. The demographics of China has

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