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china’s Global Economic Impact China offers an interesting picture of a politica

by | Oct 11, 2021 | Economics | 0 comments

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china’s Global Economic Impact
China offers an interesting
picture of a political and business environment. Its economic presence heavily depends
on manufacturing and its inexpensive labor resources. As a result, this
dependence has led to over-investment and overcapacity in certain industry
segments such as oil, steel and cement. Also, China’s socialist banking tactic
has complicated an already intense economy. As a result, the country’s
veracious economic growth has sent inflationary and deflationary impacts across
the world by raising prices of the globally traded commodities like oil,
cement, steel and other metals. China’s old growth model, driven by
infrastructure investment and driven by cheap credit, has run out of steam.
China has made leaps and
bounds in the economic landscape of the global economy. Changes in policies
enabled private sector and global competition that were previously monitored by
the government to pick up steam as new laws in place to increase the number of
children household to one plus and lastly, Xi Jinping’s (the leader of China)
announcement to support a more sustainable consumer driven expansion in China
(Silverstein, 2013). China’s mission in
the era of Jinping is to have a technology driven economy high in quality and
productivity performance. Their goal is
to be the number one Superpower.
It has taken time to reboot
the ideology of the political system which has provided optimism for economic
growth. According to Fox (2013) China’s goal is not be a revolutionary power,
yet, a revisionist power. Revisionists want more for themselves, whereas,
revolutionists want to overturn the government.
As of 2018, there are 120
Chinese corporations on the Fortune Global 500 list. As far as brand recognition, the number is
very low. To sustain a competitive
advantage product branding in this region is a high priority. Huawei
established in 1987 made its 2019 100 Best Global Brands debut, at
sixty-eight. Huawei is a basic research
organization focusing mainly on technological innovations and solutions that is
fully owned by its employees.
It has been an uphill road for
China to overcome the stigma of its production quality. To address a poor reputation, several areas
must be addressed: having a more
culturally diverse organization would help their leaders understand global
needs and open channels of communication; China must shift from low quality,
low value to high quality, high value; lastly, China must address country
related political issues including cyberespionage, xenophobia and increased
tariffs.
Historically, China’s gross
domestic product (GDP) has shifted from the public sector to the private
sector. This has enabled joint ventures
which facilitates a smoother transfer of global communication, technological
knowledge and cultural acceptance which is needed for growth. Studies posit China’s growth is largely due
to its labor force (Yueh, 2015). China has been a
high growth economy for over thirty years reaping a double-digit growth (Mangus. 2018). Today, the rate has slowed down to about six
percent in the next twenty years.
Issues facing China today
according to Mangus (2018) are: China needs to
improve its financial misbehavior over the last twenty years; China also seeks
to be a more prominent player in the global monetary system; also, there is a
significant aging population and middle-income trap.
Looking at China, we can
suggest that economic conditions, economic policies and the economic systems
are the significant external factors that constitutes the economic environment
of a business. The economic conditions of a country for example, the nature of
the economy, the stage of development of the economy, economic resources, the
level of income, the distribution of income and assets are very important
determinants of business strategies. Because there is no universal strategy for
all industries, only those strategies that are tailored to an industry and to
the skills and assets of a firm succeed.
Discussion Questions:
1.
What is an economic system? What are the basic
problems of an economic system?
2.
What are the features of a mixed economic
system?
3.
Explain the role of government in solving
problems that arise from different economic systems.
4.
Define privatization and trace the history of
privatization.
5.
Explain the different routes of privatization.
6.
Give your arguments for and against
privatization.
7.
Why is China’s privatization different?
8.
Bring out the nature and causes for
globalization of business.
9.
Explain the stages involved in the economic
transition of globalization.
10.
Evaluate the impact of globalization on China’s
economy.
11.
List the strategies used for globalizing a
business.
12.
Natural resources are the wealth of a country’s
economy. Discuss China’s key resources.
13.
Evaluate China’s government policies towards
management of their natural resources.
14.
Evaluate the impact of economic development on
environmental issues.
Please prepare a 3000-minimum paper that includes the
following information. Your paper should be in APA essay format which includes
a Cover Page, Abstract, Citations and a Reference Page. There should be a minimum of five
references. The questions listed above
should be answered in the essay; however, not listed. Please no bullets or lists. Please use the Game Theory to discuss China’s
strategy.
References:
Fox , J. (November, 2013} The
Chinese Steamroller is Already Sputtering. International Business. Harvard
Business Review. Digital Article
Mangus, G. (2018) Red Flags: Why
Xi’s China Is in Jeopardy. University Press.
Silverstein, M. J. (November 2013) Ten Predictions for
China’s Economy in 2014. Economy, Harvard Business Review. Digital Article.
Yueh, L. (December 2015) China’s
Growth: A Brief History. Business Economics.
Harvard Business Review. Digital
Article.

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