American and Chinese economies Research Paper Example | Topics and Well Written Essays - 1750 words

the Statesn and Chinese economies - Research Paper ExampleChina and the unite States economies be both the strongest economies in the world and despite the major differences they have, the major economic challenges they face are actually similar. Both countries have bifurcated economies with challenges in providing materialistic employment with talent shortage at the top objet dart middle-class workers do not have jobs. China has 40percent unemployment appreciate while graduates in America are facing tough job markets. Another similarity is in education reforms, in America education programs to meet the high employment rate are not well structured, and China, on the other hand, has many engineers but they lack creative thinkers. The tax reforms in both economies create an imbalance the thrift. The United States economy is the best national economy in the world. The United States dollar is the most utilized cash especially for universal exchange. It has an economy that is blende d and it has managed to occur the gross domestic product steady for decades now(Jorgenson & Wessner, 2014). China, on the other hand, has a socialist market economy and it embraces predominance of an open market economy and a state possessed area. In China, the government possesses all property while in America private individuals own property. China outpaces America in population, while America has a long way to go to the extent of the population. China has the high level of inequality but it is concerned with poverty reduction, while America has worst poverty levels.