Economics

Economics

Introduction

Australia has recently been showing great concern about the international growth and power that China has. Today China is standing side by side on the international platform giving America a tough competition in terms of becoming a country with the highest economic value. Australia has given consideration to the fact that necessary camaraderie should be developed based on China's current standing in order to benefit from both China and USA. On the other hand another thing important to notice is that Asia has a greater chance of being a more dangerous place in the near future. This means that Australia right now is considering more options and finding the best possible way to ensure a promising future as well as to remain in a peaceful situation.

Discussion

This can be further defined by showing the status of the two world powers that can benefit Australia. If we consider the situation of China, Australia can benefit greatly if China keeps continuing the business relationships with it. China is an emerging country with the biggest manpower in the world. Furthermore being the leader of Asia, China can also gain market from other neighboring countries which can ultimately benefit Australia as well. However, Australia can also have great benefits and promising future if America is considered to be the well wisher. This is because America being the current super power of the world can greatly increase the steady and growing future of Australia. Keeping in mind what Australia can get from both the countries, it is really hard to find a way for both this situations to work at the same time.

America has undoubtedly been one of the strongest super powers in the world and has also enjoyed the benefits of being one at a micro and macro level. It has been recent that China has also become strong politically, socially, economically and technologically and with time they are bound to become even more powerful and there will be a time when it will emerge as the strongest leaving US behind. China with its constant efforts to become the strongest has undergone high levels of economic stress and it is this stress that has aided China in being developed and has become an important part of the strategic clout at a worldwide level. In the process of development China has also concentrated and made investments in the military and army side that has led to military modernization entailing weapons that are hi-tech and aid in safeguarding the integrity of the country in an effective and efficient manner. It can eventually result in conflict of interests amidst the two countries considering the fact that America who has enjoyed the status and the power associated with being a super power will not take the fact that China is replacing it in a healthy way. There is a high probability of conflicts based on interests. This aspect is more likely to happen in the near future since china is already grown to gain the second biggest economical value in ...