China's Economic Growth and possible implications on Singapore

  During today's CID lessons,we took a closer look at China's rapid economic growth and also the main reasons for its growth. China has already become one of the castes growing economy in the world. 

  In the short one hour, we discussed the possible factors contributing to China's economic growth and some of them include low tax rate,China's population,land mass. China has one of the lowest corporate tax rate in the world of 25% as compared to America's tax rate of 35% for example, with this low tax rate,it will attract foreign investors to China to conduct business but not other countries who have a higher tax rate as investors will need pay a lesser amount of tax which will result in more profit for them. Also, China's huge population of 1.4 billion will mean no lack of manpower and cheap labour for the foreign investors. They will be able to find sufficient employees and do not need to spend a relatively large amount of money on the workers' pay. This will certainly attract more foreign investors to do business in China,contributing to its economic growth. With manpower, sufficient land is also needed and China's land mass is a massive size of 3854082 square miles and there will be more space to build factories and many more. These factors have contribute to attracting foreign investors and expanding international trade to their country .

  I believe that China will become a even larger economy in time to come, what happens in China will not only affect China itself but also other countries, such as Singapore. China having manpower and natural resources will also result in other countries to import products from them including Singapore  and making China one of the largest export. So I strongly believe that in the future we as Singaporeans have to be prepared for a brand new world with international trade and investments shifting from West to Asia, we need to keep up with the world' s pacing and changes with China emerging as one of the important and key country to the world's development Singapore will need to maintain good relationship with the Chinese and start changing the stereotypes about them . One very good example will be the collaboration between China and Singapore in constructing Sino-Singapore Tianjin Eco City . These developments will benefit not only China and most importantly Singapore. I believe that we will need to venture into China in terms of business and many more to learn more and understand the culture of China as they are growing as one of the most powerful countries in terms of economy.