My study abroad program in Shanghai, China focused of the growing dynamics of China in the international market. By taking political science and economics courses, I was educated about China. My classes and out of classroom experiences allowed me to realize the great leaps that China had made from a planned economy to an open economy. Due to the opening of the Chinese economy, many countries have begun trading with the nation. The levels of trade only increased after China’s ascension into the World Trade Organization. Due to China’s comparative advantage in many goods related to labor, transnational companies open operations in China to try to access the economic opportunities present in the country.
While in Shanghai, I visited the American Chamber of Commerce. From the meeting with the former president, I was educated on the depth of the Chinese market. The majority of American companies do not come to China to export goods back to the United States. Instead, these companies want to try to access the growing Chinese market. Due to China’s large population and growing middle class, companies have the opportunity to make huge profits by investing in the Chinese market. China’s growing power in the world market will only help to continue to increase the importance of China on the world stage.