Essay about China Is A Fast Rising Global Economic Power

Essay about China Is A Fast Rising Global Economic Power

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China is a fast rising global economic power; it frequently pops up as a key subject in Western business. At present, China is at the forefront of most news coverage including Business Week, Wall Street Journal, among other renowned business media. China is famed for its low-cost investments that provide a great opportunity for a great customer market. Interestingly, China is now an important component in the Western businesses value chain. It also plays a huge role in global strategies (Barlow, 2007, p3). In 2005, the work report of China’s state council stated that the nation attracted a foreign direct investment, commonly known as FDI, of seventy billion US dollars. Due to that effect, China became the second largest FDI beneficiary nation in universally. Moreover, its economic of scale size surpassed that of France, Germany, as well as Britain and is currently second biggest economic after American in the world.. Although Chinese economic is so strong, the economic of east and west is quite unbalanced. According to the data from National Bureau of Statistics of China, which shows the unbalance between west and east of China. For instance, the GDP of Shanghai(east of China) in 2010 is 1720 billion Chinese yuan, which is about 270.22 billion dollars. This is near the GDP of Finland or some developed countries. On the contrary, the GDP of Qinghai Province(west of China) is 135.04 billion Chinese yuan, which is about 21.22 billion dollars,that is near the GDP of Bolivia. This shows that the GDP of Shanghai is more than 13times of Qingdao , which is very unbalanced.
1.1 Aim and objectives
The aim of this study is to make some fundamental contribution to understanding what are the main factors will influence MNCs to using different...

... middle of paper ...

...e Chinese administration goes for indirect kinds of influence that entail involvement or arbitration by a third party. On the other hand, the cross-cultural administrations in multinational companies opt for more of direct and open ways to solve conflicts.
Numerous cultural disparities etched in the government as well as the people’s personal lives have been brought to light. Tang states that; with these matters identified, as well as their sources, multinational administrators can look out for them and formulate strategies to counter them (2009, p88). The multinational corporations and their administrators have to take up the recommendations to build strong relationships with their Chinese employees as mentioned in former paragraphs. The multinational companies can also maximize on the Chinese employees culture and seek to help them grow to their individual benefits.

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