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A state's status as a superpower in the international community relates to its potential to dominate the global economy. It means having a strong power base and the potential to control other countries. A superpower state is still embroiled in some problem impacting the rest of the planet. For example, China is currently regarded as a financial powerhouse in the world (Zhang, 2012). France, the United States, and the United Kingdom also have a military powerhouse in the world.
Any state must have rapid economic growth in order to be deemed a powerhouse on a global scale. The state's economy must develop to a higher degree. The GDP (Gross Domestic Product) per capita should place it among the top five states, and the difference in GDP with other countries should be minimum (Acemoglu & Robinson, 2012). China in 2014 was ranked as the number one state economically, followed by the USA. It is still maintaining the lead in the world. This has made it avoid the military burden so that it can develop economically. The state, therefore, can be defenseless in the case of an attack which is opposite to the United States because it has invested in the military system. Other states are also increasing in their economy as much as China is the number one country not all countries depend on it.
The macroeconomic management analyses major economic factors that show trends and how the factors influence the economic income. It deals with the employment and unemployment issues, gross national product (GNP) and prices (deflation and inflation). It also covers the investment and economic growth of a country. Every country tries to balance the economy so that it does not get into economic crisis (Law & Sukkoo, 2011).
China has created job opportunities for its people enhancing its economy. China is a superpower state regarding the economy, and it has macroeconomic stability. India has also tried to ensure the citizens learn English and understand it so that they can be able to communicate with investors and therefore get Job opportunities. As much as these countries have created job opportunities, they are not better off because they face the same challenges other countries suffer as far as they have macroeconomic stability. Just like the way other countries are facing problems with replacing the older generation in employment because you people are not experienced, it the same problem the superpower states experience.
Having a kind of population that is controlled by the government is a decent thing because this ensures that most people in the country are educated and healthy. China is one of the states that came up with a policy to control childbirth. This has contributed to its prosperity economically. Just like in Europe, the population policy in the 14th century brought about an industrial revolution in the 18th century. This does not mean that these states are better off because they have managed to control their population. China currently is facing a problem of low fertility, reduced population and aging without replacement. The state by no understand that high fertility is not a problem to the nation but instead expands the economy. Other countries that have no superpower internationally are expanding economically even without controlling their population (Allen, 2009).
When a state deals with poverty, the economic growth expands. Poverty reduction is achieved when people are educated, and jobs are created. Reducing poverty in a country or state is not an easy thing that can be dealt with. India is an emerging superpower state internationally. India has created employment schemes to help reduce poverty in the country. China and USA have attracted foreign investment that has led to a reduction in poverty because people get employed (Jacques, 2012). This does not make these states better because of them being superpowers internationally, India faces education, roads, housing and water problems. Other countries are not superpowers, for example, France and yet they are well developed and have also been able to deal with poverty issues.
The political environment of a state can make it progress or reduce its economic state. The financial state of superpower countries is always increasing than that of developing countries because they have political stability (Fukuyama, 2014). China and USA have the political stability that has led to the greatness of their economy. The leadership of these states is concerned with the economy and the rules that are brought about favor the economy. Although they have these, the countries go through leadership wrangles just like other countries.
Energy is one of the most critical resources in the current world. The energy is used for residential purposes, commercial purposes, and transportation. Power is needed in our homes for lighting purposes, watching cooking and showering. It is also required at the workstations to carry out several activities (Clark, 2012). Most of the fuel that is used in the world is mostly used for transportation, and any state that has fuel is considered to be rich. Superpower states create renewable energy so that they can depend on themselves. India is generating a nuclear energy, and China is working on the way to develop renewable energy by the year 2025. This does not make it better than other countries. China and India might have superpowers in the international system, but they have to rely on other countries like Denmark, Iceland, and Russia to get what they need regarding energy (Vogel, 2013).
In this era, for any state to be considered of superpower it must be keeping up with the advancing technology. The technology of a superpower state should be at a creation level (Studwell, 2013). Technology especially in the sector of industrialization leads to high per capita income and therefore affecting the economic development. Israel leads the world in high tech, and the country was able to solve its water problem despite it being in a desert. Even though this has happened, and the state has a tiny population, many people in Israel are living in poverty, and most of them don't own homes. Compared to other countries like Australia, people living in Australia are better off than those in Israel. The competition also comes from the US in technology, and it is a well-developed state with a high population.
In conclusion, even though there are states with superpowers internationally, it does not mean that they are better off because they face challenges that other states face. For example, if it is going through an economic crisis like falling and rising of the economy, all countries go through the same problem. They also rely on the other states to get they need only that they are more developed. Hence no nation is better off because it cannot survive on its own.
Acemoglu, D. & Robinson, J. (2012). Why Nations Fail: The Origins of the Power, Prosperity, and Poverty. New York: Crown Business.
Allen, R. (2009). The British Industrial Revolution in global Perspective.
Clark, G. (2012). “A Review Essay on the Enlightened Economy: An Economic History of Britain 1700–1850 by Joel Mokyr.” Journal of Economic Literature, 50(1), 85-95.
Fukuyama, F. (2014). Political Order and the Political Decay, From the Industrial Revolution to the Globalization of Democracy. New York: Farrar, Strauss, and Giroux.
Jacques, M. (2012). When China Rules this World: The Rise of the Middle Kingdom and the Birth of the New Global Order. Second Edition. London: Penguin Press.
Law, M. & Sukkoo, K. (2011). "The Rise of the American Regulatory State. A View from a Progressive Era." Handbook on the Politics of Regulation.
Studwell, J. (2013). How Asia Works: Success and the Failure in the World's Most Dynamic Region. Grove Press.
Vogel, F. (2013). Xiaoping and the Transformation of China. Cambridge, MA: Belknap Press of Harvard University Press.
Zhang, W. (2012). The China Wave: Rise of a Civilizational State. Hackensack, NJ: World Century Publishing Corporation.
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