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