The premier controls the civil bureaucracy, The party general secretary runs the economy. A Shanghai journalist is paid by her state-controlled magazine to fly around the world for stories on global lifestyle trends. The city of Rongcheng, for example, uses big data (available to the government through surveillance and other data-capturing infrastructure) to give people individualized social credit scores. These are used to reward or punish citizens according to their political and financial virtues or vices. Losing the China market will be costly for American tech companies and deprive them of funds for further R&D. The Chinese political system is dominated by multiparty cooperation as well as political constitution under the direction of the Communist party of China (CPC), but the USA is governed by the western style of multiparty system. While hierarchy and equality may appear to the post-Enlightenment West to be antithetical concepts, in China they remain inherently complementary. The Trump administration was determined to damage Chinas economy and businesses. A Chinese professor who has lived in both the US and China believes there is a core cultural difference leading to the country's diverging paths. One reason China can spend so much on infrastructure is that its defense budget, after years of increases, is still only about a quarter that of the United States. In contrast, the governments discount rate on the future is lowerin part because of its Leninist emphasis on controland explicitly focused on long-term returns. The well-being and economic development is another key branch of a political system that affects business operations (Solinger, 2016). Consequently, inequality is greater in China than in the United States, measured by the Gini coefficient. Yet they found common ground to work in mutually beneficial ways. Now CEO of the Hong Kongbased $40 billion private-equity firm PAG, Shan spoke with HBR Editor in Chief Adi Ignatius about the economic prospects for China and the United States. It will take years if not decades for China to catch up in some areas, at great cost. This is a natural outcome of the decline in U.S. strength. The commission has succeeded in reducing corruption in large part because it is essentially above the lawsomething unimaginable in a liberal democracy. The founding fathers of USA forecasted their nation to be one that respects and follow basic human rights and Biblical ideas as guidance. This paper will compare two great countries the United States and China by looking in details how and why their legal and political systems differ, explain what determines the level of economic development in each country. Each branch of the government plays an important role in providing for the countrys citizens by creating laws and policies that are meant to make the living standards of the citizens better and provide them with safety and rights. Thats why ordinary Chinese people see Chinese companies such as Alibaba, Huawei, and TikTok as sources of national prideinternational vanguards of Chinese successrather than simply sources of jobs or GDP, as they might be viewed in the West. Trade wars, nationalism, and the pandemic have led many companies to question their supply chain strategyin particular basing manufacturing in China, thousands of miles from their markets. China and the global economy. The PRC isn't just pragmatic, but also respectful towards all of its partners. When we first traveled to China, in the early 1990s, it was very different from what we see today. However, it also highlighted the different ways in which people of color in the USA are suppressed through political representation and voter suppression. This is the logical extension of China-U.S. competition from the perspective of U.S. economic nationalism. Under this view, whether or not other countries are free and democratic, or whether others deem the U.S. to be so, matters less than the economic benefits the U.S. deserves, including a favorable balance of trade and jobs. For example, the British role in the Opium Wars of the 1840s kicked off a 100-year period that the Chinese still refer to as the Century of Humiliation. The authors suggest that those assumptions are rooted in three essentially false beliefs about modern China: (1) Economics and democracy are two sides of the same coin; (2) authoritarian political systems cant be legitimate; and (3) the Chinese live, work, and invest like Westerners. This package reveals much that may surprise them. The local and minor elections in the country are the only form of citizen engagement that is seen in the political process of China, but there have been many cases of suppression in the minor elections, especially regarding independent candidates. China on the other hand practice totalitarianism and collectivism which is the opposite of democracy. The elite theory focuses on the notion that only a select group of people actually run the government, which are considered elite, while the pluralist theory states that political power is rather shared between the influencing parties. However, the country does have branches of government that also include the executive, legislative and judicial branches of government. Thus many Chinese consumers prefer the short-term gains of the stock market to locking their money away in long-term savings vehicles. The article reflects the author's views and not necessarily those of CGTN. Access more than 40 courses trusted by Fortune 500 companies. In China, the legal system "is based on civil laws" (Nolan, 2012). /Getty. When individuals have the powerto realize their dreams, they will demand a greater say.. The legal system of a country establishes regulations and laws that maintain and indicate the basic values of an entire nation. This shared quest for predictability explains the continuing attractiveness of an authoritarian system in which control is the central tenet. However, the beliefs and positions of political parties change over time, so . What's most ironic about this observation is that domestic American politics are nowadays focusing on the merits of diversity, yet its foreign policy is exclusively predicated on conformity. The Communist Party of China does not give the citizens any chance to question the existing and it has total control of everything going on in the state (Solinger, 2016). The economy has grown 36-fold over the past three decades, chiefly because of market-oriented reforms that have created a vibrant private sector, which now accounts for about two-thirds of Chinas GDP. The differences in the political orders of China and the United States are "irreconcilable", making it difficult to keep relations between the two countries on a stable track, a leading. For example, a 2015 survey found that 81% of them trade at least once a month, even though frequent trading is invariably a way to destroy rather than create long-term fund value. Amid the unprecedented challenge of COVID-19, clear differences have emerged between the Chinese and American responses. It is a global leader in AI, biotech, and space exploration. Investors anywhere should invest in a socially responsible way to advance human rights, adhering to a high standard for labor practices, gender equality, investment in human capital, and charitable contributions. Most significantly, the British have a democratic parliamentary government, headed by a monarch and prime minister. This suggests that something distinctive to mainland China influences this behavior: long-term unpredictability thats sufficiently recent to have been experienced by or passed on to those now buying stocks. This review discusses recent efforts to systematically compare three leading values in China's philosophical traditionsmeritocracy, hierarchy, and harmony . Furthermore, it is important for nations to be flexible when it comes to global market system and change laws when necessary in order to attract investment and grow the economy like China did. In the countryside life retained many of its traditional elements. The world will be lifeless and dull if there is only one single model and one single civilization." 9. The . That means not that these people are unconcerned with long-term outcomes but, rather, that their risk aversion increases significantly as the time frame lengthens. China has been shifting away from an investment-driven growth model to one led by private consumption. Economic and macro-political changes happening globally is something that international business management must consider before doing business since it will influence the decisions that they make regarding their business. Jimmy Dore delivered a monologue on the history of the Russia-Ukraine conflict and how a "tiny cabal" are using the situation for profit on Friday's broadcast of 'Tucker Carlson Tonight' on FOX News. ChatGPT has become a sensation since its public release in November, with its ability to produce plausible responses to text prompts, including requests to write essays. A democratic state is supposed to be free and fair, and the President of the country is also chosen by the citizens to lead them through the crisis and to provide them with basic necessities and human rights. For much of its turbulent modern history, China has been under threat from foreign powers, both within Asia (notably Japan) and outside it (the UK and France in the mid 19th century). Some distinctions between the parties. At 22,000 miles, it is twice as long as the rest of the worlds combined. In that period there has been ruins of buildings as well as joy of victories, rapid advance in success as well as pride, tortuous ordeals and lesions from mistakes done . Earn badges to share on LinkedIn and your resume. The U.S. also repeatedly provoked China using freedom and democracy as a pretext. The CPC runs the country while the other non communist parties play the role of participatory. Not blaming China means indirectly acknowledging U.S. shortcomings, which could be explosive in U.S. partisan politics. Since China is a communist and one-party state, citizen engagement is lower in comparison to democratic states. On the foreign front, China never tried to pressure anyone to conform to its domestic political system but instead not only respects, but celebrates, their differences. I see no systemic risk either in Chinas banking system or in its economy. The benefits are both financial (for example, access to mortgage loans) and social (permission to buy a ticket on one of the new high-speed trains). Weijian Shan was born in China and had his life upended by the Cultural Revolution. Political credibility and economic development. China's political system encourages parties, organizations, and representatives from various circles of Chinese society to discuss basic policy as well as important political, economic, cultural and social issues. This is a belief alien to many Western business executives, especially if theyve had experience with other authoritarian regimes. What is it that Americans dont understand about China? These are valid points and deserve to be expanded upon in order to enlighten others further. Half of the representatives in Congress are millionaires with their median net worth reported to be more than a million. What to Know. Examination of School Shootings and Student Safety from International and Non-International Armed Conflict, Comparison Between Democracy Vs. Many people have wrongly assumed that political freedom would follow new economic freedoms in China and that its economic growth would have to be built on the same foundations as in the West. Lets be honest: A rising China may be a threat to Americas economic and technological supremacy, but not to its national security, because China doesnt export its ideology or political system and doesnt seek regime change anywhere in the world. Trumps trade war was an abject failure. Ideological competition between China and the U.S. in recent years comes in three basic models: The nationalist hegemony model that ultimately serves U.S. hegemonistic purposes in the international community. Western systems are . And when Xi announced, in 2017, that the three critical battles for Chinas development would fall in the areas of reducing financial risk, addressing pollution, and alleviating poverty, he also made it clear that the objective of these reforms was to solidify the system rather than to change it. The CPC runs the country while the other non communist parties play the role of participatory. However, both states have a very different political landscape, which is what will be discussed in the paper today. The Chinese government is, however, much easier to decipher since it is a communist one-party state that is also led by elites even though it goes against the very grain of communism. People who do take long-term career risks often do so only after fulfilling their primary need for short-term security. Although many in the West may believe that China sees only opportunity in its 21st-century global plans, its motivation is very different. The political system of China has been operational since its establishment for 50 years. The differences in political beliefs led to the formation of a two-party system in the United States, contrary to George Washington's wishes. Responding, however, will only escalate a lose-lose war, and the entire international community will suffer as a result. In this view, Trump wont necessarily lose if he fails to bring the pandemic under control; but if he fails to save the U.S. economy, his fate is sealed. The positions in this branch can be for either a five-year long term or even an unlimited amount of time. Comparision between US, UK, and China's Political Systems The United States Of America is a liberal democratic country, and the basic elements of democracy (majority rule, government by popular consent, one person one vote, and competitive elections, to name a few) are revered. From the depth of their hearts, Americans confront the reality that the beacon of freedom has to learn from the authoritarian government of communist China in some respects. Get a 100% original essay FROM A CERTIFIED WRITER! China is more corporatism, which is the organization of society by corporate groups such as military and agriculture, which can even be seen through its different selective assemblies and congresses. Believing, for example, that political freedom would follow the new economic freedoms, they wrongly assumed that Chinas internet would be similar to the freewheeling and often politically disruptive version developed in the West. Therefore, a country's political system can be assessed effectively by using aspects such as collectivism or individualism and totalitarianism or democracy. Hence the public debt as a percentage of GDP is higher for the U.S. relative to China and the. The president controls the army. Chinas rulers, therefore, see foreign engagement as a source less of opportunity than of threat, uncertainty, and even humiliation. China, however, has been able to sustain and grow its economy as much as it practices a command economy. She bought a flatthe first time anyone in her familys history had owned property. A. According to this view, economic growth and increasing prosperity will cause China to move toward a more liberal model for both its economy and its politics, as did those countries. In much Western analysis the verb most commonly attached to Chinas reforms is stalled. The truth is that political reform in China hasnt stalled. Seventy years on, many Chinese believe that their political system is now actually more legitimate and effective than the Wests. Learn how to overcome barriers when working globally. 808 certified writers online. Great challenges lie ahead. Obviously the ideology of nationalist identification under the pandemic has greatly roughened the political landscape for China and the U.S. It often compares itself to brands with which Westerners are familiar. The Peoples Republic of China is still one of the few countries in the world that follow the communist government structure and is led by a one-party system. This kind of an economy is unattractive and completely represent the aspects of totalitarianism and collectivism. In fact, the Chinese word for the resolution of a conflict (jiejue) can imply a result in which one side overcomes the other, rather than one in which both sides are content. Thats why China is the most active private-equity market in Asia. (2012). Majority of China's production companies are owned and managed by the government. GM sells more cars in China than in the U.S., Canada, and Mexico combined. (If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com. The pandemic has profoundly shaken the U.S. sense of superiority in values, culture and systems since the Enlightenment, and by extension the entire West. Why do leaders in the West persist in getting China so wrong? But defaults and bankruptcies are common in a market economy. The vehicles for much of this investment are still the CCPs Soviet-style five-year plans, which include the development of what Xi has termed an eco-civilization built around solar energy technology, smart cities, and high-density, energy-efficient housing. Its stated purpose was to reduce Americas trade deficit. Lets imagine the personal history of a Chinese woman who is 65 today. Federal and state governments wrangled and blamed each other over the pandemic response, exposing public discontent with the efficacy and legitimacy of the government, as well as the internal strife in society. The resulting victory, which for decades the CCP spun as its solo vanquishing of an external enemy, was reinforced by defeat of an internal one (Chiang Kai-shek in 1949), establishing the legitimacy of the party and its authoritarian system. Second, the economic structure is different. The U.S., on the other hand, is a federal constitutional republic with three governmental branches sharing powers. Westerners failure to appreciate this explains why many still expect China to reduce its role as investor, regulator, and, especially, intellectual property owner when that role is in fact seen as essential by the Chinese government. 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