Economically, enhanced means of communication and transportation allows more expedient supply and demand scheduling. Two of the latest Chinese reform measures to aid in the development of the country are the Provisional Regulations on Direction Guide to Foreign Investment and the Catalogue Guiding Foreign investment in China. Both these policies place specific industries including telecommunications, machinery, and electronics on top priority. Funding for these projects come from foreign investments and appropriations from the Chinese government in the form of grant financing, and legislative or administrative support. Yet another example of the Chinese emphasis on industrial b... ... middle of paper ... ...pressive economic figures are through a thorough renovation of Chinese trade policies.
The Fall of The Orient. Zhiwu Chen, a professor of Finance at Yale School of Management, had once addressed two pivotal questions to the world: “Why has China’s economy grown at such a fast rate during the last 30 years, and is this growth rate sustainable?” Over the past decades, China’s uprising as a huge economy power was undeniably prominent, first in Asia and then to the eyes of the world. The most popular answer as the world knows it is because China has “vast and cheap labors”, but that is not necessarily true. The idea of China’s development has been supported not only by huge labor force. Instead, it was also driven by all the changes that happen in the world, which allowed China to gain from its labor force, and also improvement in technological developments, and social reformations (Hayat).
Over the last two decades, the Chinese economy has experienced significant economic growth due to globalisation. Globalisation is responsible for reducing the barriers to trade and increasing the integration between different countries and economies. The reduction of trade barriers as well as the increased integration between different countries and economies resulted in an increase in foreign investment and international trading which leads to economic growth. China has experienced significant increases in international trading and investment flows. This is supported by the world bank which states that in 2010, China contributed 13.6% to global growth and was responsible for approximately 9.4% of W... ... middle of paper ... ...ountries/profiles/CHN.html>.
Foreign direct investment has played a vital role in the transformation of the Chinese economy in China, with value contracted increasing from US$ 52.1 billion (1998) to US$ 115.1 billion (2003). In geogra... ... middle of paper ... ...itten the full word Foreign direct investment and then in the brackets he has put the abbreviation (FDI). The article also give snap shot of the foreign companies who misjudge the Chinese culture, competition, size the market, and some other factors, have been badly affected by investing in china. The writer has given a name of the reference book in the article " The china dream" by Joe Studwell. He has also given an example of Dupont an American investor company in china to make the article easy to understand.
China stands out for the explosive growth in its industrial segment, which in turn was fueled by China’s willingness to act more quickly and aggressively to lower its trade barriers and to draw foreign investment. In contrast, Ind... ... middle of paper ... ...kets. Their economic systems subdued growth and left both countries in poverty. In 1980, per capita income stood at $556 in China and $917 in India (Department of State, 2010). To boost their economies, China and India shifted strategies, letting private enterprise prosper and opening markets to foreign trade and investment.
The Promising Future of China's Economy If China's economy grows as fast for the next 20 years as it has for the past 14, it will be the biggest economy on earth: I feel that China's drastic improvements over the last 14 years are overwhelming, with their Real GNP growing at a rate of 9% a year, which means by, 1994, China's economy will match the performance of countries like Japan and Taiwan. China's standard of living has also increased, and the number of people who were considered absolutely poor decreased approximately 63%. I feel with the vast amount of people living in China, and the economic activity booming like it is, China's exports will continue to grow, as well as the standard of living. This will create more revenue, and more capital for them to produce even more goods and become even larger, prospering as one of the biggest economies on the earth. I also feel that China should try to overcome its corrupt system and steadily move into a free enterprise system.
Additionally, these recruiting practices may also prove to be an indicator that gauges the extent to which the Chinese-side business development has caught up to developed world standards set by the most economically dominant nations. Driving forces in the MNC-local party relationship As China has entered into the reform era and taken up the path to marketization and opening its economy, relationships ha... ... middle of paper ... ...d. Works Cited Farrell, Diana, and Andrew J. Grant. "China's Looming Talent Shortage." International Management in China; (2005).
With the development of economic globalization and trade liberalization, degree of openness has gradually become a momentous factor that affects countries’ economy. On account of “Protocol on the Accession of the People 's Republic of China” and the WTO’s principals, China’s degree of openness is expected to rise after entering into the WTO. (This argument helps explain thesis statement (b)) B. China has the largest population in the world. Therefore, due to textile industry’s labor-intensive property, it’s obvious that China has a comparative advantage at producing textiles.
The combination of China's massive size and rapid modernization is creating the framework for an emerging superpower. China's growing economy is not only gaining international prestige, but its confidence has soared as it continues to be the world's fastest growing economy for the past three decades. "China's rise as a manufacturing base is going to have the same kind of impact on the world that the industrialization of the U.S. had, perhaps even bigger," stated Andy Xie, a Hong-Kong based economist with Morgan Stanley. It is particularly important to note both the causes and the impact of the emergence of China as a superpower. Although, in order for the impact to be assessed, the underlying causes must be analyzed first.
The socialist market economy is a model used by the Republic of China and it is the second largest economy in the world. After the 1980 economic reform implemented by Deng Xiaoping the Chinese economy has been growing positively for their domestic economy as well as the world economy. The world economy is the global economic activity between countries that are considered intertwined and can affect other countries negatively or positively. China was able to transform their economy from a former centrally planned economy into a full market economy in 1992. China was economically frail before 1978, however it has now become one of the world 's major economic powers.