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This is because these companies are usually export-import oriented. On this basis, the integration of foreign direct investment with the labor force of the domestic country has an effect of creating a positive development of an economy of a country1. Globalization is a factor in the emergence of this international trade, and more so after the disintegration of the Soviet Union. This is because the Soviet Union was a country that was advocating for communalism. On this note, all countries under its influence had a closed economy. However, after its disintegration, majority of the nations within the world began to create an export promotion policy. They began to open their market system for purposes of promoting free trade.
In developing these policies, developing countries of the world took an example of the Asian tiger economies compromising of Taiwan, Singapore, South Korea and Hong Kong. These countries managed to improve their economies because of insisting on exports, instead of imports. This policy involved the removal of trade barriers, and encouraging direct foreign investments. On this basis, local companies within the country will participate in international trade by associating with these multi-national companies2. This export promotion strategy was successful in developing countries, and China began to experiment with it in the periods of 1970s.
It is important to denote that China had one of the closest economies of the world, prior to the 1970s. The various regimes in the country regulated its economy, and they never encouraged any direct investments within the country. On this basis, their market system was closed. This made the country to be very poor, contributing to its low economic development. However, after opening up its market system to foreign companies, China was able to attract a large percentage of foreign investments and capital3. In 1990s, the country became the second largest nation to host foreign direct investments after
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Recent recession has destroyed the financial backbones of many of the American and European countries whereas Asian region, especially East Asia or countries like China, India, Korea etc escaped from recession without causing much injuries to its economies.
The collapse of Soviet Union helped America to become the only superpower in the world. Moreover America got enough opportunities to concentrate on other international matters because of the ending of cold war with Soviet Union.
With the constant consumption of these resources at an alarming pace, depletion of natural resources is becoming a very renowned term. Retaining the planet’s vitality is proportional to the resources we conserve. The pattern of resource consumption in China is such that it is consuming resources like farmland, water and timber with twice more frequency than their efforts directed towards these resources’ renewal for development purposes.
Religion in China is considered one of the more interesting topics coming out of the country. Considering its ancient history, as well as its traditionally restrictive governance, religion seems to be expected as a controlled belief and expression in China.
However, simultaneously, various kinds of inequalities such as income disparity have increased, because of the rural-urban income gap. And also there have been increases in unfairness in health and education areas. Certain amount of inequality was unavoidable as China entered in a market system, however inequality have worsened instead of lessening due to number of strategy issues (Dollar ).
Statistics show that there are more than fifty ethnic groups that call China home. China has a population of 1.34 billion people. There is no official religion in China due to the fact that it is a communist state. Half of the population in China do not have any religious affiliations and in some cases identify themselves as atheists.
Thrift spending and very lavish lifestyles characterize these children, called the second rich generation. This name emanates from their fathers who were the first generation of rich people in the country. One major character that outstands in this generation is that
The Yan’an era was the most significant period in the history of the republic of china. It was more challenging compared to what the Chinese Communist Party accounts of propaganda. The period saw major events in the history of China take place such as the Sino-Japanese war,
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