Globalization is beneficial to developing countries because it raises income, creates jobs and creates an economy where it is possible for people to afford nice things. Throughout Meredith and Hoppough’s article readers are presented with strong examples of logos. Meredith and Hoppough give hard facts and evidence that support globalization and make readers see the good in globalization. The author’s choose to show the positive effects of globalization through facts and statistics. For example Meredith and Hoppough state “Per-person income in china has climbed from $16 a year in 1978 to $2,000 now” (Meredith and Hoppough 393).
Although the party is a lot more relaxed then other communist such as the Stalin government in the Soviet Union, it still owns industries such as the energy sector and various important sectors which contribute to the countries economy. The figures don’t lie, they clearly state that China is growing at a very rapid as a global super power. The main reason why the countries political system has lead to economic growth is due to the ability to exploit the workforce of China. China has a population of around 1.344 billion which means that millions of jobs are required to keep the country moving. Around 937.27 million people work in China which is a huge amount and manly due to the countries democracy system.
Alex Thomas Macroeconomics What are the costs and benefits of economic growth to a developing country? In recent years many countries, such as Brazil, India and china are rapidly developing and are experiencing a very high level of economic growth, while economic growth has its many benefits, to both the government and the general population, it also has several considerable negative impacts in the long term, which could lead to an unstable economy in the future if it is mismanaged. One example of how economic growth can benefit the economy is that living standards generally improve, this is because when an economy encounters rapid growth, there is a significant increase in the amount of services and goods produced, therefore the average standard of living will increase. As an economy grows, the average annual earnings increases, for an example India’s annual growth in real GDP in 2000 was only 5.5%, and by 2010 it was 10.4%. As well as increasing living standards, it also benefits the government, as they will see an increase in revenue collected in income tax.
Especially China and India, both of them keep high growth speed each year. However, the toy industry in the certain market area had a large number of players including not only the manufacturers but also retailers. In the toy industry, both of USA and China are in the world’s spotlight. Because USA has the biggest marketing share in the world. And China is the biggest manufacturer in the world, meaning that the 60 percent of the toys sold in the world are made in china.
However, the future of the Yuan policy later became a popular topic, with many experts agreeing on the fact that it would be necessary to revaluate it in order to play fair with its commercial partners or to simply let the market play his role through a floating exchange rate. The following document: * Shows the advantages and disadvantages of China’s current exchange rate system, namely it gives its economy a competitive advantage on all its exporting activities over other economies, which are known to be significant (it has become the largest exporter in the world in 2010). Other consequences tend to qualify this statement, such as the inflationary pressure it puts on the Chinese economy. * Illustrates how China’s exchange rate policy, is a part of a monetary policy that has been used by the Chinese authorities as a tool to protect the Chinese market and facilitate its development. * Through the study of the impact of a drastic reduction in the U.S trade balance deficit, concludes that a switch to a floating exchange rate change should be taken into serious consideration by the Chinese authorities, as the resulting appreciation of the Dollar would deteriorate the value of the Yuan * Ends with the gradual and careful way this new system should be implemented, as the banking sector needs to be progressively reformed and prepared to face
On one hand it could be said that having an empire made Britain great because British values were spread. This means our ways and traditions were spread amongst foreign people and we became more known and our way of life became more common. 18000 men, women and children earned money from making goods. This created many jobs and boosted the economy. Imports and exports rose greatly according to Source A- Imports and Exports 1700-1900.
Deng Xiaoping’s Open-Door Policy allowed for a dramatic increase in both economic growth and standard of living. The economic boom of the 1990’s and passion for wealth sharply juxtaposed the political passions of The Great Leap Forward. However, in both historical periods, the massive Chinese population remained characteristically similar in the ability of the people to enact huge change when united. In defining Leader, Yu Hua compares and contrasts the Communist Revolution to the modern day Chinese
As a result, more food was available to feed more people and population swelled. In conclusion, Chinese technologies lead to China’s prosperity and the growth of its population. It also developed trade contributing to China’s expansion. As a result, today Chinese technologies are known as the most advanced and influential in the
To a certain extent, the industry of China had been transformed within this period, particularly due to the advancement of these heavy industries. For instance, 88.8% of state capital investment in industry went towards the developing of these heavy industries and as a result, coal’s production raised from 66 million to 130 million and production of steel elevated from 1.31 million to 4.48 million by 1957. Moreover, Maurice Meisner explains how ‘Chinese industrial production grew more rapidly than Russian industry during the first Soviet Five Year Plan.’ Therefore, due to the large increase in production of these essential materials one could argue that Chinese industry experienced a radical change between 1949 and 1962, even greater than Russia’s. On the other hand, it can be debated that China did not experience a significant transformation in terms of their industry around the time of the
However other emerging markets such as China and the rest of Asia and South America have a growing economy therefore present a potential opportunity for Hugo Boss, within the premium and luxury market, to expand. (Roberto La Rocca, 2010) It has been seen in recent years that China in particularly, has seen a significant growth in its luxury sector, resulting again in huge potential for growth opportunity for Hugo Boss. From the figure 1.0 we can see China is likely to be the largest luxury goods market in the world by 2020 and will continuously increase. Furthermore, currently the Euro has depreciated against Chinese currency, resulting in exporting to China advantageous to Hugo Boss at the moment. This will therefore benefit Hugo Boss when trying to expand across the Asian market.