China is recognized as the oldest civilization in the world. After thousands of years of feudal ruling and numerous dynasties, including the Xia Dynasty, the Qing Dynasty, Qin and Tang, the Communist Party founded the People’s Republic of China (PRC) in 1949. The creation of the People’s Republic of China led the United States to suspend diplomatic ties with them for decades. China located in East Asia and along the west coast of the Pacific, China is approximately 3,700,000 square miles, making it the fourth largest country in the world in size; following close behind the United States and Canada. It has fourteen neighboring countries, more than any other country in the world, except Russia, which also has fourteen. Those countries are: …show more content…
China is considered a middle-income country and it is predicted that by 2022, their middle class will be three-quarters of the urban Chinese households and 45 percent of the entire population; China’s urban consumers will earn 60,000 to 229,000 renminbi ($9,000 to $34,000) a year. With this being said, U.S. businesses must take hold of the opportunities and be more proactive in exporting to China because studies show that more than half of Chinese consumers prefer American products to Chinese products, it is predicted that before long China will become the world’s largest consumer market and the Internet has helped reduce entrance barriers and allowed businesses to sell into China without a significant upfront …show more content…
Studies show that although China’s older generation are reluctant to buy American products, the younger generations are very open to the idea. The Chinese consumers who grew up in the tough political and economic times are more sensitive to change. While consumers in their thirties and twenties tend to save less and spend more on entertainment, advanced electronics and other trendy products. Over the last four years, U.S. exports to China have grown 80 percent, yet the Chinese consumer is interested in even more quality American products. The middle class spending power is exploding, which gives small American businesses a great opportunity. The American products that Chinese consumers want most are high-quality personal care toiletries, home appliances, consumer electronics, apparel and fashion accessories, movies, music and books. In 2013, the Peoples Republic of China purchased $109 billion in Made-in-U.S.A. products, making the country the third largest importer of U.S.
Some of the earliest settlers in China was around 1500 BC (History of China). With a vast population there are numerous religions followed such as: Buddhism, Christian, Muslim, Folk Religion, Hinduism, Judaism as well as others and those who do not practice a religious faith (CIA). Beijing is the capital of China and was named Peking prior to 1949 (Peking). Chinese or Mandarin is the official language there are several dialects to the language (CIA). In addition, the time zone in China is Coordinated Universal Time or UTC plus 8 hours (CIA). China exports the following: electrical and other machinery, clothing, furnishings, textiles and integrated circuits according to the CIA. According to Wikipedia there are 3,589 museums some of them included Shangyuan Art Museum, Chongquing Science and Technology Museum, Nanjing Museum and Zhenjiang Museum (List of Museums in
Characteristics of our society reflect in the outcome of purchasing tendencies. How many of us can honestly say we make a valid effort to purchase goods made in our own country? In our face paced world where both parents are in the work force, raising children, social activities and everything else, who has time to make an effort? Most often, consumers only care about marking off the s...
China and Japan both had very relatable experiences from the 1800s to present times, as they both have had to completely or partially abandon prior political polies that were deemed no longer applicable. For example, in 1978 Chinese Chairman Deng Xiaoping abandoned a vast majority of the policies that Chairman Mao Zedong had implemented during his reign. Though Mao considered them all fundamental to communist China, they often did not work or caused more harm than good. For the Japanese, they initially attempted to resist the outside influence of the Americans in the early 1800s, however they were no match against them and implemented Westernization to become a better nation.
Globalization has caused the world to change. Our country, China has been dramatically changed by globalization. Our people have moved to cities, and our industry has exploded. We have had huge advances in technology along with education improvement. Despite the fact that China has changed so much, there are still many issues that plague it. China faces serious environmental concerns. New diseases and viruses that are not indigenous to China can cause a wide range of sickness in the new area. Despite some of the the improvements in China that are a result of globalization, the negatives that globalization has brought to China are more than the benefits.
China is located in East Asia. Ancient China is surrounded by Gobi Desert in the north, the Pacific Ocean in the east, the Himalayan Mountains in the southwest, and the Taklimakan desert in the west. This land has a wide variation of animals because of the different habitats provided for them. Most farming was done in the very fertile lands of the Yangtze valley. Present China is much bigger than Ancient China, which means that over time, the kings and different dynasties went gaining more and more land and wealth.
In 1978, China was positioned 32nd on the planet in export volume, yet it had multiplied its reality exchange and got thirteenth biggest exporter in 1989. Between 1978 and 1990, the normal yearly rate of exchange extension was over 15 percent,[11] and a high rate of development proceeded for the one decade from now. In 1978 its exported on the in the world of the overall industry was insignificant, in 1998 regardless it had short of what 2%, however by 2010, it had a world piece of the overall industry of 10.4% as stated by the World Trade Organization (WTO), with stock fare offers of more than $1.5 trillion, the most astounding in the world.
With a population of 1.357 billion (2013)3, China is the most populated country in the world. Along with the huge population comes a market that is unmatched by any other country of the world. Both domestic companies and foreign companies want to tap into this large market that just recently embraced capitalism and entered into the World Trade Organization.
Shirley Ye, Sheng, and Yan Ma. "China Vs. The United States: Market Connections And Trade Relations." International Journal Of China Marketing 2.1 (2011): 45-57. Business Source Complete. Web. 13 Dec. 2013.
The current trade imbalance is caused in large part by intrinsic features of China's labor market and consumer base. The vast majority of China's 1.3 billion people still live in rural areas. China has, by some estimates, a surplus rural labor force of 120 million people, many of whom migrate to industrial centers to look for factory work, and drive down wages. As long as wages are low, the United States will continue to gobble up products made in China, while Chinese consumers will prefer to buy cheaper, homespun alternatives to American products. The rise in trade deficit with China has come at a cost to jobs in the United States, accordin...
Over the last 30 years the world has seen drastic changes in the Chinese way of making business. Nowadays, China has opened its businesses to the rest of the world, especially America and Europe (Teagarden & Cai, 2009). As a result, their economy has increased and the evolution of the companies have changed to be from closed doors to be international and multinational (Teagarden & Cai, 2009). This essay will analyze, first of all, how some Chinese companies have had success abroad, looking at the strategy that they applied to expand and to improve their products. Furthermore, this essay will show examples of successful Chinese firms, such as Lenovo and TCL Group, and how they achieve it.
The Chinese dynastic system was highly admired for its vast structural integrity which allowed it to persevere for more than two millennia. The Xia Dynasty was the first recorded dynasty in Chinese history, founded by a man named Shun who renounced his throne to his trusted official Yu. Rather than pass the power to someone qualified for the position, Yu then entrusted the Dynasty to his son Qi, setting the precedence for the Dynastic rule. 1 This ushered in the Hereditary System which was followed by many dynasties to come. Under the hereditary system the power was passed down through the family members. This system also had an added benefit of ensuring stability and continuity within the nation’s infrastructure.2
China's development is praised by the whole world. Its developments are not only in the economic aspect, but also in its foreign affairs. Compared to other developed countries, China is a relatively young country. It began constructing itself in 1949. After 30 years of growth, company ownership has experienced unprecedented changes.
The rise in China from a poor, stagnant country to a major economic power within a time span of twenty-eight years is often described by analysts as one of the greatest success stories in these present times. With China receiving an increase in the amount of trade business from many countries around the world, they may soon be a major competitor to surpass the U.S. China became the second largest economy, last year, overtaking Japan which had held that position since 1968 (Gallup). China could become the world’s largest economy in decades.
China, for most of its 3500 years of history, China led the world in agriculture, crafts, and science. It fell behind in the 19th century when the Industrial Revolution gave the West clear superiority in military and economic affairs. In the first half of the 20th century, China continued to suffer from major famines, civil unrest, military defeat, and foreign occupation. After World War II, the Communists under Mao Tse Tung established a dictatorship that, while ensuring autonomy of China, imposed strict controls over all aspects of like and cost the lives of tens of millions of people. After 1978, his successor Deng Xiaoping decentralized economic decision making; output quadrupled in the next 20 years. Political controls remain tight at the same time economic controls have been weakening. Present issues in China are: incorporating Honk Kong into the Chinese system, closing down inefficient state-owned enterprises, modernizing its military, fighting corruption, and providing support to tens of millions of displaced workers. Today, China remains the major issue in U.S. security policy in Asia. The currently dominant security policy holds that China has essentially replaced the former Soviet Union as the chief strategic threat to the United States in the region, and the U.S. should essentially retain its containment strategy, with China as the new target. The basis of this new strategy includes a strengthening of cold war-era bilateral military alliances in with the development of a Theater-based Missile Defense system that would cover South Korea, Japan, and Taiwan. Revelations in early-to-mid 1999 indicating a pattern of Chinese nuclear weapons and missile technology espionage dating back from the 1970s to the mid-1990s has raised fears of China as an enemy to the highest level in 20 years. China's defense budget has grown more than 50% over the course of the 1990s and is said to have increased 15% in 1999. China's occupation of 11 islands and reefs in the Spratlys, including Mischief Reef, 378 kilometers from the Philippines is also used as evidence of the expansionist nature of China. The accusations of espionage are more telling of the weaknesses in U.S. security than of providing any significant evidence that the Chinese have used this data to gain a qualitative strategic advantage relative to the United States. A more balanced conclusion would be that the espionage reveals that the privatization of the management of nuclear weapons labs did not adequately take into account the United States' national security concerns.
Globalization has been a start of a new modernized era in history. The source states that as an individual you are given prosperity, stability, and also predictability, and also points out that it helps developing countries modernize and catch up with developed countries, and also reduce poverty since new businesses are formed allowing more employment in the country due to the subsidies that wealthier countries give to them. The person who wrote this source is a pro globalist, and has probably experienced the prosperity that was given to them because of the global trading system. His perspective on globalization suggests that globalization is the key to advancing technology, good relations between countries, and is beneficial event in history. One should embrace the global economy as it creates many roads to achieve your goals in your life, and also for the weaker countries that needs support, but to a degree that the government can intervene with the market.