The Future Of Currency Essay -- essays research papers fc

The Future of Currency In the present day, the world's economy is ever-changing and adjusting. Many different reasons control the reasons for this. The future of currency is something that can only be predicted and is not guaranteed. However, there are many determing factors behind the changes that can take place. Asia and North America are two continents that have economies that have recently changed or are in the midst of change. World War 2 drew a hard blow and left a serious and lasting effect to many Asian countries. This however, did not hamper the growth of countries such as China, Japan and Vietnam as their governments were taking serious steps to recover economically. Thus, the global market cannot deny a place for these 'Asian Dragons', because these countries are growing at a tremendous pace to the extent of being capable in emerging as global market leaders. China's capitalism and boom was born when their president, Deng Xiaoping permitted the provinces to dismantle their communes and collective farms. This led China to venture into free-market economics, although they were still under the communist political system. When President Deng announced that they needed Western money and expertise, China flung their trade doors wide open and China went on a capitalist drive without ever looking back. By mid 1960's, the Chinese Revolution settled down to the job of ruling China. Its main goal was essentially nationalist: a prosperous modern economy. While there continued to exist substantially economic inequalities, distribution of wealth was probably a bit more equal than in most Western countries. (Moise 171) While there were great variations in income between different villages, and between different jobs in the urban sector, the overall averages showed a clear pattern: the cities were much richer than the countryside. Most capital investments were going into urban industries. The urban workers, using considerable amount of heavy machinery, had a much higher average level of productivity compared to the rural workers. The natural consequence was, for the city people, an average income level twice as high as that of the people in the countryside. The most obvious way to attack this poverty problem was to increase production, in all sectors of the economy. Though the easiest way to increase ... ... Works Cited Anderson, Sarah. et al. "NAFTA: Trinational Fiasco." The Nation July 15, 1996: 26-29 Carbaugh, Richard G. International Economics. U.S.A.: Wadsworth Publishing Company, 1989. Dentzer, Susan. "The Pain and Gain of Trade." U.S. News Sept. 1992: 62+. Harbrecht, Douglas. et al. "What Has NAFTA Wrought? Plenty Of Trade." Business Week Nov. 21, 1994: 48-49 Lewis, Charles, and Margaret Ebrahim. "Can Mexico and Big Business USA Buy NAFTA?" The Nation June 14, 1993.hout the world. Gibney, Frank. "Vietnam: Back In Business." Time. April 24, 1995 Volume 145. No 17: 47-49 Mcgeary, Johanna. "The Next China." Time. March 3,1997. Vol. 149. No. 9. Moise, Edwin E. Moise "Modern China, A History." The Economic Growth. New York: Longman, Inc., 1986: 165-181. Prager, Karsten. "China: Waking Up To The Next Superpower." Time. March 25, 1996. Volume 147. No 13: 51-54. Rich, Joe. "Japan Since The Occupation." Asia's Modern Culture. 2nd Ed. Sydney: Longman Inc., 1980: 190-193 "The World of Information.Asia & Pacific Review,1995." 14th Ed. London: Kogan Page Publishing: 153-256