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Chinese economy size has been on the rise over the better part of late 90s. According to the world ranking, it is likely to continue on the same tread. One of the leading global economist (Lehman Brothers) has been quoted, claiming existent a possibility of the Chinese, becoming second best economy in the world by the year 2030. Its annual growth rate has been recorded at 6 per cent in terms of gross domestic product. With such a background, China has the potential to offer good environment for business and new investments from foreigners. Report from Beijing says that the current boom in the Chinese industries is expected to be on high over the next 10 years before it hits a plateau (USA International Business Publications, 2007).
Beijing’s economy is likely to be destabilized for a while, but eventually, a greater benefit is expected from its new agreement with WTO. The alarming numbers of liquidation and relocated manpower is expected, as rising competition in trade after the treaty with WTO compel a relocation of wealth away from less competitive and protected industries to areas, where Beijing commands market advantage. According to IMF, WTO agreement is likely to lower Chinese actual GDP by 0.3 per cent annually for the first few years. The sectors that are likely to incur a loss from the WTO agreement include less competed with communication, agriculture, and financial sectors. Others, on the losing side, could be auto industry that is more financial-intensive. Other than immediate adjustment capital, WTO treaty is most likely to have a weighty effect on the Beijing’s balance of income. The agreement is a complete package with elimination of trade obstacles; this is leading to a considerable rise in commodities imports but a reserved increase in exports. Moreover, WTO presence will spur the growth of regulatory and legal framework that will hasten reform in the financial sectors, thus, developing demand for foreign services (F.M, 2010).
“China is collecting recourses from every part of the planet, because the country lacks the massive pool of resources it demands to feed its mammoth economy,” to quote Lisa Mastny. A thing yet to be felt is the long term effects of Beijing industrial boom to the rest of the world’s resources. However, Chinese natural resources such as air, water and land are already experiencing strain. From the report by UNHABITAT, China is experiencing the largest ever rural-urban migration, with thousands of its citizens, moving from slums in populated urban areas. With the multiplication of factories and automobiles in the cities, the air pollution has been on rise. It is reported that 80 per cent of the most polluted towns on the planet are in China. Beijing also holds the second position in emitting carbon related waste after USA. This industrial boom is affecting its environmental landscape-creating bio imbalance, stressing the nation’s natural resources at alarming rates. But there is hope, according to some experts. The China authority has recognized the increasing cost of resources damage, and it has introduced some measures, such as introduction of a law that is governing usage of natural resources (E., 2010).
The figures by IMF indicate that China has gone to a point, where it stands a chance to become a rising power, but the truth behind these numbers is questionable. Beijing’s economic boom, gained largely from key capital investments and cheap labor, is attempting to gear up to the next stage of industrial development that is based on innovation and components that add values to the economy. China institutes of higher learning are the potential sources of the intellectual manpower that is supposed to push the country to the next level economically. However, the crisis in China’s universities, especially on plagiarism and the insufficient integrity academically, is likely to paralysis the journey to this hoped level. When sitting for English writing examination, Chinese student translates Chinese materials into English. The punishments that accompanies copying ideas from other sources without acknowledging the author brings no results. Plagiarism is common in Chinese classes, both at lower and upper levels. Shedding light on why this behavior and lack of integrity are so common among students in Beijing is crucial for predicting why the country will find it hard to attain the expected economic goal. Intellectual theft is intricately related to the big debate on intellectual rights in Beijing and the authority cultivated idea of united society. European countries expected the WTO threats to sanction Beijing against continued piracy of wares, but to the big surprise, it did not. Intellectual protection rights are difficult to enact from outside and even gain grip, if there is respect for such rights from within. These rights can only be enforced if the communities embrace culture of mutual respect to intellectual properties. Historically, in China, harmony is esteemed value, supported by communist authority to cultivate stability. Unity in the society encourages harmony and stability, while it considers the individual (USA International Business Publications, 2007).
The force of society that contains the individual generates the idea that every part of the society can be obtained by the individuals from the society in any mean they would wish, including intellectual properties. In this prototype, it is absurd for a member of community to claim a credit for an intellectual property, when the community should be at the centre of every individual. Intellectual rights intersect the community ideas and ownership of intellectual properties, because they bring about competition in the market of ideas, which would undermine the unity of the society. Taking this illustration seriously and applying in the institutes of higher learning would highlight why plagiarism is a problem in Beijing.