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The Economic Impact of the Emergence of China and India - Assignment Example

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The paper 'The Economic Impact of the Emergence of China and India' presents the Automobile Industry today which is becoming increasingly competitive, with the shift in global economies, the continuously rising fuel prices leading to a simultaneous rise in consumer preferences…
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The Economic Impact of the Emergence of China and India
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Download file to see previous pages The main macroeconomic variable that toys in the global economy’s shift are the emergence of India and China as new superpowers. This emergence certainly has a number of implications, but among the most relevant are: disruption of the equilibrium of the global economy which results in rising demand of goods, giving way to worldwide inflation; the attractiveness of outsourcing to these countries due to low cost but high talent workforce of these countries for cheaper operations.
The growing middle class of China and India results in booming demand for the automobile industry. This increase in demand, with the increasing purchasing power of these countries’ people, is not limited to automobiles but more apparent in the commodities. This rapid rise in demand for commodities pushes the prices of oil and food to skyrocket across the world, leading to worldwide inflation.
Of course, once this inflation sets in, the ripple effect on the global economy is evident in most industries. This rapid inflation can influence the prices of inputs and materials that are part of Toyota’s operations—the supply side of the automobile industry.
The effects of this inflation do not stop in the supply side of the automobile industry which could significantly impact a firm’s cost structure. With the rising fuel prices, demand for automobiles is threatened too, as fuel is a complementary product of automobiles. At least in order to address the threat in the demand, Toyota put on the initiative to create a hybrid car that has saved its operations from this.
The other economic impact of the emergence of China and India is its low-cost labor strategy that makes outsourcing to these countries attractive to automobile manufacturers. This can give a company the cost advantage it needs by availing a highly talented but lower-cost workforce that leads to a more effective and efficient operation. The attractiveness of this should be incorporated into the company’s long-term macroeconomic forecasts in order to utilize the cost advantage that it can bring to operations. ...Download file to see next pagesRead More
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