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.
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).
For the UK, increasing income inequality over the past decades is found to play a major role in attracting high-skilled immigrants. Inequality signals high returns to human capital, skills and education, which make
CAC China Between the years 500 and 1750, China’s involvement in trade and decisions regarding global trade greatly affected their economy. China has always participated in local trade amongst Chinese societies, however new technologies brought change in the trading system and the people the Chinese traded with. There were also time periods of isolation from other countries that were established in order to have less western influence. Transitions with new rulers, advancements in technologies, and expansion of their empire caused for Chinese economic growth or continuance. Many foreign invaders tried to conquer the empires of China for thousands of years, one of which was actually successful.
Compare and Contrast the recent growth of India and China The world has been rapidly evolving for the last several decades, and the trend of growth is indicative of a shift in the balance of economic power from the West, to the Eastern powerhouses of India and China. Both countries have been growing at phenomenal rates as compared to global standards and have achieved incredibly high GDP growth rates of 6.4% and 9.2% respectively. This growth can be attributed to many factors, such as the opening of both India and China’s markets to FDI. China is by far the more encouraging of the two nations in terms of inviting FDI and is the second largest recipient of FDI in the world, for instance China attracted more FDI in the first six months of 2012 than the USA ($59.1 billion compared to $57.4 billion). The majority of the FDI in China tends to be focused on the secondary, manufacturing industries.
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.
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
At the same time, industry also had the advantage of lower costs due to the ever increasing number of cartels allowing for greater purchasing power than that of smaller businesses. Between 1925-1929 German exports also rose by 40% further increasing Germanys income. However, even with these new advantages
This type became prominent with regard to Hong Kong in the period preceding re-integration into the People's Republic of China (Pe-Pua et al., 1998), but continues today affecting increasing numbers of countries. * Return migration, though obviously not new, seems to be growing in volume as a result of trends towards temporary or circulatory migration. Return migrants are important agents of economic, social and cultural change, and increasing attention is being paid to their possible role in development processes (Castles, 2000). * Retirement migration is an emerging type of mobility closely linked to improvements in transport and communications. Increasing numbers of people from rich countries with relatively high living costs and unattractive climates are seeking to spend their twilight years in more con- genial surroundings.
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.