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In this paper prospects of these two future economic giants will be discussed along side with their potential to grow. The many factors that make these two countries future contenders for economic supremacy will also be elaborated.
Immediately after the 1949 revolution the economic policies of China were set aiming at lowering consumption and increasing the process of industrialization. With lower expenditure the economy was able to make more and more factories. In 1978 agricultural sector was reformed and private sector was also allowed to function for the first time in China. These economic policies are said to be the major contributor towards the success of Chinese economy. The process of privatization in China has also increased the overall economic activity of the country.
The story of India is not very different China. After independence Indian economy was characterized by extremely protectionist policy. But the policy of liberalization took effect in 1990’s and after that the economy has shown great prospect. Experts name India as the next big economic giant after China. The growth that India has taken in the last decade of 20th century and in the early 21st century is amazing.
The rapid industrialization taking place in the two countries have made their economies so strong that there future is prosperous. The potential of the two countries is great. China is the world’s largest exporter. Its growth in the previous 30 years has been 9.5 percent. India is also known as the second largest growing economy of the world. So the prospects are great for the two economies.
Chinese economy actually benefits from it exports. China imports great quantity of goods and after value addition exports at higher profits. It relies on small profit margins and for this reason it is able to export at low prices. This is something which distinguishes China from other economies. China is able to develop industries for which
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This paradox has attracted many people’s attention arousing their interest to investigate the strange phenomenon. Upon a close review, of China’s development over the last two decades, this study draws the following five factors as the main reasons behind the sustained the country’s rapid economic growth (the same factors will continue being the impetus behind sustained economic growth for the new giant): To begin with, China started to implement the policy of reforms and opening up to the rest of the world towards the end years of the 1970s.
In the recent times, there are two main successes that stand out, China and India. These two nations are, through their sheer size, economic giants and as they are growing in the recent years, it is quite obvious that their continuous transformation will have significant effects, not just on them, but the entire global community.
It has helped the managers in coming to terms with the requirements and adjustment of varied intercultural business, social and work settings for increased work performance. Globalization demands effective cross cultural management theories in response to the changed circumstances of the managerial situations.
Adaptation to culture from the religious perspective is the toughest of the options for an individual as well as for the society. Buddhism arrived in China from India through the good work by the missionaries and the supportive role of the traders, the route being the Silk Route, which connected China with Europe.
Porter (1986) argues that there is no single global strategy, which can be used as a model formula. He contended that a lot depends upon the differences in the extent of geographical location and the degree to which the company is centralized for decision making. International marketing is different from home-country marketing.
Since that time, the nationalist quest to blot out the humiliation China suffered at the hands of imperialist has been a recurring theme in Chinese politics. Almost all powerful Chinese political leaders from the early twentieth century through today have shared a deep bitterness at this humiliation and are determined to restore China's pride and prestige, as well as its rightful place in the world.
Though the fall of the Tang Dynasty is often tied with the extreme drought, it can be refuted on the point that the failure of the Government to face the drought is to be blamed for the fall of the Empire. An in-depth analysis of the rising period of the Empire during the Tang Dynasty fairly shows that the beginners of the empire were farsighted enough to include the Chinese population to face the problems of the natural calamities, but during the later half of the Empire, the emperors of the Tang Dynasty clearly deviated from their pro-public zeal.
Like most other empire builders in the world, culture and religion including other variables played an important and crucial role in the making of the Chinese Empire. Though other factors such climate, environment, natural disaster,
In fact, Liang wanted to become an engineer as his childhood fantasies were full of military artillery that ranged from weapons, ships, submarines, airplanes. Nonetheless, the purge by Mao led Liang to artwork that mainly consisted of Mao and Chinese workers.
World economic growth has become increasingly reliant on the United States and China and India. These countries are responsible for over 80 percent growth globally in the first quarter of the year, 2015. The United States has the largest economy in the world with China in second place.
7 Pages(1750 words)Research Paper
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