Business in Asia Order Description Research Essay TopicsIn your research assignment, you must clearly but succinctly address each specific point mentioned in the essay topic. The word limit is 1500 -2000 words.The impact of the slowdown of the Chinese economy on other economies in Asia and Australasia (Asia and Australia-New Zealand and neighbouring Pacific Islands) region.There are strong indications that the Chinese economy is slowing down after three decades of rapid growth. Its rapid growth transformed not only Chinas own economy but also had a huge impact on other economies in Asia and the world. China emerged as the assembly center of production networks and has played a major role in the deeper integration of economies in this region.Clearly a Chinese slowdown will have major impacts on the economies of this region. Also na noteworthy event from the period covered in this class and describe the historical facts/events/persons involved, as well as the historical significance of the chosen subject in American History. (In other words, why do we care about this event?) Formal essays are to be typed and double-spaced. Each essay may include references from the class textbook as well as any lectures/note materials used in class, but should utilize other research sources as well, regardless of medium, at the discretion of the student use real research sources, please. Each essay should be 3-5 pages typed, double-spaced, with 12 pt font. You will be evaluated on research, writing (syntax, grammar, organization, etc). Also, you must cite all information borrowed from any of the above listed sources. If you do not cite your sources, you are plagiarizing and, therefore, will receive no credit for the assignment. Students are not required to use research sources beyond those assigned for this class.Textbook: Give me Liberty, Volume 2, Foner ISBN 9780393920345 (eBook OK ISBN 9780393522273)ote that the Chinese slowdown is happening at a time when the global economy, including the major OECD economies, is facing difficult times.The essay should focus on a selected economy in Asia (NOT Vietnam, as there is a chapter on Vietnam in the reference (a) given below) or the Australia-New Zealand region, and discuss the implications of the Chinese economy slow down on that economy.The essay should describe, proving figures and data is necessary, the trade and investment linkages of the selected economy with China and the rest of the world, and how these relationships have evolved during the period of the China boom. It should then discuss how a slowdown in Chinese economy impacts on the selected country through the various channels (trade, tourism, investment etc.), noting that there will be both direct impacts as well as indirect impacts. The indirect impacts come from the impact of the Chinese slowdown on other countries of the world, which in turn will impact on the selected economy. You should discuss what may be the impact on important economic variables such as, for example, the countrys real income, its balance of payments position, employment and investment.Useful background reading: 1) Garnaut, Ross, Cai Fang and Ligang Song (eds.) (2015), China: A New Model for Growth and Development: https://press.anu.edu.au/titles/china-update-series/china-a- new-model-forgrowth-and-development/pdf-download/ 2) World Bank (2015), China Economic Update: https://www.worldbank.org/content/dam/Worldbank/document/EAP/China/ceu_06_15_en.pdf 3) ADB (2015), Asian Development Outlook Supplement: https://www.adb.org/sites/default/files/publication/161734/ado-supplement-july-2015.pdf