1. * Since the late 1970’s China’s economy has been growing at a very fast pace. * Today the factories of China manufacture products for much of the world. * This power point presentation will help explain why it is the China’s Economy has grown so quickly. Opening

2. Reason 1: Many people = Many workers Companies like Nike have moved their factories to China because there are so many Chinese people. In China it is not hard to find people willing to work in the factories.

3. Reason 2: Cheaper workers Many factories have left the U.S. or European nations and moved to China because they can pay Chinese workers a lower wage. The average American or European factory workers makes 10 or 20 times more than the average Chinese worker. Factories were able to increase their profits and lower the price of their products by moving to China.

4. Reason 3: Most Chinese workers do not receive benefits In the U.S. and Europe many companies provide their workers with benefits like health insurance or pension plans. These benefits cost companies a lot of money. By moving their factories to China and hiring Chinese workers, companies can avoid paying for workers’ benefits.

5. Reason 4: Many people = Many consumers China is the most populated nation in the world. Until recently, however, Chinese people were too poor to buy products like televisions or even shoes. Now the Chinese are becoming richer and are able to purchase more products. Companies are moving to China to sell their products to the hundreds of millions of Chinese that can now afford it.

6. Reason 5: Few government laws about safety and pollution In the U.S. the government has passed laws about how to treat the environment and how to make sure workers are safe. It can be expensive to follow these rules and if the companies do not they can be sued or fined. Many companies have moved to China where there are fewer rules about how to treat the environment and workers.

7. Examples of reason 5: A)A factory in China might dump toxic waste in a lake because it is easier and cheaper than having to store it in a safe place. B)A factory in China might produce toys with lead paint because it is cheaper. Lead is dangerous to the workers and to the child who eventually plays with the toy.

8. Reason 6: Workers are often respectful and motivated to work hard. Long ago Confucius taught people in China to respect people in positions of authority (such as parents, teachers or a boss). As a result many Chinese workers tend to be respectful of their employer. They show up on time and work hard. Consequently many companies have moved their factories to China.

9. Conclusion For all the reason mentioned above (and for others not discussed) China’s economy has been growing so quickly. It is predicted that eventually China’s economy will be the largest economy in the world—larger than even that of the United States’.