International Business -China

Powerful Essays
1.0 Introduction of Economics in China

Before the Chinese Communists Party (CCP) came to China to gain the power control of the country, the economics of China was mainly based on agriculture for many centuries. The economy of China could not be separated from Mao. Mao was the chairman of CCP in China from the year 1943 to 1976. Mao was calles as Chairman Mao or The Great Leader Chairman Mao. During the Mao period, most of the Chinese citizens were poor people except for the political elite people in China. During the Mao era, China economics was mainly emphasized on the heavy industry. The success of the heavy industries in china was measured on the quantity of the steels that have been produced and the barrel of the oil that was pumped from the ground. The first Five Year Plan in China was developed from the year 1953. The Five Year Plans was developed to help sustaining the economics of China initially. Mao then continued to sustain the economy with ‘The Hundred Flowers Campaign’ during the year 1957. During the Hundred Flowers Campaign, Mao indicated to received and considered different opinions on how China should be governed. Many liberal and intellectual Chinese began to questioning and opposing the leadership of Mao. After the Hundred Flowers Campaign, it then moved on to the ‘Great Leap Forward” from 1958 to 1959’ which was the Second Five Year Plan. Great Leap Forward Plan was created to increase the production of the industrial and agricultural industries. Great Leap Forward Plan was an alternative plan for economic growth focusing on the heavy industries. Great Leap Forward Plan has not proved to be a successful as planned. The number of starvation of the citizens has increased. However, the plan then changed again at the year 1966, to the new plan that was called as ‘Great Proletarian Cultural Revolution’ that only lasts until the year 1976. These plans were unrealistic as it brings the economics of China to the disaster. The reforming of the



References: Akrani G., (2010). Land Labour Capital and Enterprise, from http://kalyan-city.blogspot.com/2010/11/4-factors-of-production-land-labour.html (retrieved as at 28/11/2012) Communicate Group Ltd. (2009). Doing Business in China Chinese Social and Business Culture, from http://www.communicaid.com/access/pdf/library/culture/doing-business-in/Doing%20Business%20in%20China.pdf retrieved November 26, 2012 Démurger.S Economy Of The People’s Republic of China http://en.wikipedia.org/wiki/Economy_of_the_People 's_Republic_of_China (retrieved as at 27/11/2012) Economics In China, 2011, http://www.essortment.com/economics-china-39701.html (retrieved as at 29/11/2012) Fitzwater R. (2011). The Future of China’s Economic Growth, from, http://www.investmentu.com/2011/November/china-future-economic-growth.html (retrieved as at 26/11/2012) Freeman.R (2004) (retrieved as at28/11/2012) Fung E., Peng Y., KPMG Advisory (2012) Harrison M. & Hedley M., (2012), White Paper: Marketing and Selling To Chinese Businesses, http://www.b2binternational.com/publications/white-papers/chinese-marketing-selling/ (retrieved as at 30/11/2012) Jacobs A. (September 26, 2012). China Politics Stall Overhaul For Economy, from http://www.nytimes.com/2012/09/27/world/asia/chinas-politics-hinder-effort-to-shore-up-economy.html?pagewanted=all&_r=0 (retrieved as at 30/11/2012) Lee J. (2012). Prospect of China’s future economy growth, from, http://www.china-window.com/china_economy/china_economy_guide/prospect-of-chinas-future.shtml (retrieved as at 02/12/2012) McKinsey (2012) http://www.mckinseychina.com/wp-content/uploads/2012/03/mckinsey-meet-the-2020-consumer.pdf (retrieved as at 03/12/2012) Morrison Rama A. (February 04 2010). China’s emergence and its impact on ASEAN, from http://www.thejakartapost.com/news/2010/02/04/china%E2%80%99s-emergence-and-its-impact-asean.html (retrieved as at 28/11/2012) Sanders, J Simon H. & Chu C., Hamon Investment Group, 2012. China’s 2020 Vision, from http://us.bnymellonam.com/core/library/documents/knowledge/GlobalMarket/Chin2020_Vision.pdf (retrieved as at 03/12/2012) Starmass International (2012) http://www.starmass.com/china_review/global_economy/impact_on_global_economy.htm (retrieved as at 02/12/2012 at 23:45) The World Bank Group (2012) http://www.worldbank.org/en/country/china/overview (retrieved as at 29/11/2012) Thomas White International (2012) http://www.thomaswhite.com/explore-the-world/china.aspx (retrieved as at 28/11/2012) Talwar R The Economist, September 24 2011. Becoming number one. China’s economy could overtake America’s within a decade, from http://www.economist.com/node/21528987 (retrieved as at 03/12/2012) Xinhua, China Daily, (2012) Xinhua English News (2012). Hu discusses infrastructure development, China 's economic policy during APEC speech, from, http://news.xinhuanet.com/english/china/2012-09/08/c_131837087.htm (retrieved as at 24/11/2012) Yongding

You May Also Find These Documents Helpful

  • Good Essays

    The India-versus-China debate: Asian giants' common interests outweigh differences Feb 17, 2012, 03.21AM IST (The India-versus-China…) By Mukul Sanwal, Former Civil Servant Preparing for the visit of Chinese Premier Hu Jintao is an appropriate time to consider an Asian perspective of the world in 2030. India and China are competitors; but are they potential opponents? The difficulties between the two emerging powers reflect lingering attitudes rather than conflicting strategic goals. The…

    • 812 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    International business China and India Population: Chinas population is 1.351 billion, china’s GDP 8.227 trillion USD. However Indians population is about 1.237 billion, Indian GDP $1.85 Trillion Economic growth: Gross domestic product (GDP) grew at an annual rate of 7.7% in the October-to-December period, down from 7.8% in the previous quarter. But it was still higher than the government's target rate of 7.5%. China is trying to maintain strong growth while rebalancing its economy. China has…

    • 1671 Words
    • 6 Pages
    Satisfactory Essays
  • Powerful Essays

    eHertz Corporation Marketing 70 --- International Business Chao Gao, Heejin Kim, Minjian Ruan Table of Content Executive Summary 2 Competitive Analysis 4 1. Competitors 4 2. Competitors’ Market 5 3. Competitors’ Advantage 5 4. Competitors’ Status 6 Environment Analysis 6 1. Economical 7 2. Social/Administrative 8 3. Cultural 9 4. Geographical 10 Financial & Other Risk Assessment 10 1. Financial Analysis 10 2. Other Risk 12 SWOT Analysis 12 1. Strength…

    • 3981 Words
    • 16 Pages
    Powerful Essays
  • Best Essays

    there are many companies getting involved in international business, and developing to become a multinational company. Why do these firms want to take the multinational route? One of the dominant frameworks to explain the existence of these multinational companies is the Ownership-Location-Internalisation (OLI) paradigm (Dunning & Lundan 2008). Running an international business is different from running a domestic business. International business requires you to recognise and understand the…

    • 3458 Words
    • 14 Pages
    Best Essays
  • Powerful Essays

    INTERNATIONAL BUSINESS CASE STUDY INTERNATIONAL BUSINESS CASE STUDY: CHINA Preston Miles Global Business-001 Dr. Patt. Burusnukul Abstract China is one of the oldest civilizations dating back over 10,000 years. The history of China is exciting and as diverse as the topography of this region. From the peaks of the Himalayas to the scenic beaches of Yalong Bay. China has scenic and agricultural areas. China has the highest population and the fourth largest land area in the world. Caterpillar…

    • 2247 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Business in China

    • 1122 Words
    • 5 Pages

    November 29th, 2012 International Business Doing Business in China The role of government when doing business in China is very important. It is especially important if you are from a different country, such as the United States, because the approaches to dealing with the government are much different. There are many factors in which should be considered when dealing with business related issues with the government. These include whether or not your business strategies go along with the plan…

    • 1122 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    China Business

    • 2613 Words
    • 11 Pages

    Economic environment Until the 1970s China was a closed off agricultural based economy, in the late 1970s China opened up to the world, and since then China has become the largest exporter of goods in the world. China has still maintained some of its agricultural roots by remaining the leading exporter in agricultural goods such as rice, wheat, and tea(CIA Fact Book). China's economy is a fast and rapid growing economy with a GDP of $12.61 trillion in 2012, making it the 3rd highest GDP in the…

    • 2613 Words
    • 11 Pages
    Powerful Essays
  • Good Essays

    BUSINESS AT CHINA

    • 6744 Words
    • 23 Pages

    UNIVERSITI TEKNOLOGI MARA FACULTY OF ACCOUNTANCY AC220 ___________________________________________________________________ IBM 535 – INTERNATIONAL BUSINESS AND GLOBALISATIONS BUSINESS IN CHINA ___________________________________________________________________ PREPARED FOR: AHMAD SHAZEER BIN MOHAMED THAHEER PREPARED BY: Date Submitted: 21ST June 2013 TABLE OF CONTENT NO. DESCRIPTION PAGE 1. INTRODUCTION ABOUT THE COUNTRY 2 2. BASIC CULTURE OF…

    • 6744 Words
    • 23 Pages
    Good Essays
  • Powerful Essays

    International Business

    • 1961 Words
    • 8 Pages

    Wild, J.J. & Wild, K.L., (2012). International Business: The Challenges of Globalization (Global Edition), 6th Edition, Pearson Education Limited, U.K 1. Describe the process of globalization and how it affects markets and production. 2. Identify the two forces causing globalization to increase. 3. Summarize the evidence for each main argument in the globalization debate. 4. Identify the types of companies that participate in international business. 5. Myths that keep small firms…

    • 1961 Words
    • 8 Pages
    Powerful Essays
  • Satisfactory Essays

    International Business

    • 5810 Words
    • 24 Pages

    Chapter 01 Globalization True / False Questions 1. (p. 4) The notion that national economies are relatively self-contained entities is on the rise. FALSE 2. (p. 4) For the last 50 years, the volume of goods, services and investment crossing national borders has consistently expanded faster than world output. TRUE 3. (p. 4) Today, the world economy is fast moving toward a world in which barriers to cross-border trade and investment are declining. TRUE 4. (p. 6) The shift toward a more integrated…

    • 5810 Words
    • 24 Pages
    Satisfactory Essays