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Notes on video lecture:
China: The Second Largest Economy in the World
Notes taken by Edward Tanguay on December 3, 2015 (go to class or lectures)
Choose from these words to fill the blanks below:
London, enter, good, savings, higher, Latin, optimistic, 2011, elected, size, legal, population, copied, inferior, trouble, democracy, Bismarck, GSM, second, automobile, mobile, 1872, cash, Beta
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why is China interesting
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China's economy is already the              largest in the world
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second largest economies in history
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most number twos in the world run into economic and political               
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Germany before WWI
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                 ran country successively but this led to WWI
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Japan until          before being taken over by China
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20 year slump
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China today is different
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         matters
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even though it is number two in the world, it is the largest in terms of                     
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20% of world's population
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Germany accounts for 2%
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Japan accounts for 2%
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relation between population and economy
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today China is the largest                      market in the world
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China has 28% of car market
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QQ car
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Chevy Spark
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cars are almost the same
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China              Chevrolet
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but GM did not go to court to sue Chery
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because GM was trying to            the Chinese market
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GM may win the            case but may not be able to get into China
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size of market can change the rules of the game
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VHS vs.         
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Japan did not invent the VCR
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invented Beta
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then there was the VHS which was                 , bigger, lower quality
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today nobody remembers Beta
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VHS became the popular model
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it was because of size, the Japanese market was not big enough
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             phones
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format is a critical issue
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      , continental Europe and USA
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CDMA, USA
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TD-LTE, Chinese format
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today the TD format is serving 500 million
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money matters as well
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China has the highest                rates
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50% of Chinese GDP is being saved, not spent
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accumulate a lot of money
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Chinese households put money in Chinese banks
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Chinese central government today has four trillion US dollars in currency reserves
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could buy every share of equity on the              Stock Exchange, or twice as much as all the shares listed on the Australian Stock Exchange
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housing
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Chinese investors and families are buying houses abroad
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many buy with         
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they cannot go to a bank to get a loan
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ideology
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Chinese is not recognized as a                   
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German after first being establish in          was arguably an emergent democracy
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in the First Reich, the first incarnation of the German federal system
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German election rate was higher than in Britain
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members of the National People's Congress are not directly               
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indirectly elected by members of subsidiary People's Congress
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China is run by a ruling party
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preamble of Chinese constitution
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"China is led by the Communist Party in correlation with many other parties"
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but communist party is the ruling party
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communist is a          word in China in the minds of many people
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size of GDP
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potential is             
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if China follows the path of economic growth of            America
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in 25-30 years China will be 1.5 times the size of the U.S. economy
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and this is not even the most                      future for China

Ideas and Concepts:

From the somebody-fact-check-this-please department, via tonight's Rise of Modern China class: "The Chinese central government today has four trillion US dollars in currency reserves. If they wanted to, they could buy every share of equity on the London Stock Exchange, or twice as much as all the shares listed on the Australian Stock Exchange."
China: The Second Largest Economy in the World