China’s Global Economic Impact DETAILED INSTRUCTIONS… Your paper should be in

 

China’s Global Economic ImpactDETAILED INSTRUCTIONS…Your paper should be in APA essay format, including an abstract. There should be aminimum of five references. The questions listed below should be answeredin the essay; however, not listed. Please no bullets or lists.Please use the Game Theory to discuss China’s strategy.China offers an interesting picture of a political andbusiness environment. Its economic presence heavily depends on manufacturingand its inexpensive labor resources. As a result, this dependence has led toover-investment and overcapacity in certain industry segments such as oil,steel and cement. Also, China’s socialist banking tactic has complicated analready intense economy. As a result, the country’s veracious economic growthhas sent inflationary and deflationary impacts across the world by raisingprices of the globally traded commodities like oil, cement, steel and othermetals. China’s old growth model, driven by infrastructure investment anddriven by cheap credit, has run out of steam.China has made leaps and bounds in the economic landscape ofthe global economy. Changes in policies enabled private sector and globalcompetition that were previously monitored by the government to pick up steamas new laws in place to increase the number of children household to one plusand lastly, Xi Jinping’s (the leader of China) announcement to support a moresustainable consumer driven expansion in China (Silverstein, 2013).China’s mission in the era of Jinping is to have a technology driven economyhigh in quality and productivity performance. Their goal is to be thenumber one Superpower.It has taken time to reboot the ideology of the politicalsystem which has provided optimism for economic growth. According to Fox (2013)China’s goal is not be a revolutionary power, yet, a revisionist power.Revisionists want more for themselves, whereas, revolutionists want to overturnthe government.As of 2018, there are 120 Chinese corporations on theFortune Global 500 list. As far as brand recognition, the number isvery low. To sustain a competitive advantage product branding in thisregion is a high priority. Huawei established in 1987 made its 2019 100 BestGlobal Brands debut, at sixty-eight. Huawei is a basic researchorganization focusing mainly on technological innovations and solutions that isfully owned by its employees.It has been an uphill road for China to overcome the stigmaof its production quality. To address a poor reputation, several areasmust be addressed: having a more culturally diverse organization wouldhelp their leaders understand global needs and open channels of communication;China must shift from low quality, low value to high quality, high value;lastly, China must address country political issues includingcyberespionage, xenophobia and increased tariffs.Historically, China’s gross domestic product (GDP) hasshifted from the public sector to the private sector. This has enabledjoint ventures which facilitates a smoother transfer of global communication,technological knowledge and cultural acceptance which is needed forgrowth. Studies posit China’s growth is largely due to its labor force(Yueh, 2015). China has been a high growth economy for over thirty yearsreaping a double-digit growth (Mangus. 2018). Today, the rate has slowed downto about six percent in the next twenty years.Issues facing China today according to Mangus (2018) are:China needs to improve its financial misbehavior over the last twenty years;China also seeks to be a more prominent player in the global monetary system;also, there is a significant aging population and middle-income trap.Looking at China, we can suggest that economic conditions,economic policies and the economic systems are the significant external factorsthat constitutes the economic environment of a business. The economicconditions of a country for example, the nature of the economy, the stage ofdevelopment of the economy, economic resources, the level of income, thedistribution of income and assets are very important determinants of businessstrategies. Because there is no universal strategy for all industries, onlythose strategies that are tailored to an industry and to the skills and assetsof a firm succeed.Discussion Questions:1. What is aneconomic system? What are the basic problems of an economic system?2. What are thefeatures of a mixed economic system?3. Explain the roleof government in solving problems that arise from different economic systems.4. Defineprivatization and trace the history of privatization.5. Explain thedifferent routes of privatization.6. Give yourarguments for and against privatization.7. Why is China’sprivatization different?8. Bring out thenature and causes for globalization of business.9. Explain thestages involved in the economic transition of globalization.10. Evaluate the impact ofglobalization on China’s economy.11. List the strategiesused for globalizing a business.12. Natural resources arethe wealth of a country’s economy. Discuss China’s key resources.13. Evaluate China’sgovernment policies towards management of their natural resources.14. Evaluate the impact ofeconomic development on environmental issues.ReferencesFox , J.(November, 2013} The Chinese Steamroller is Already Sputtering. InternationalBusiness. Harvard Business Review. Digital ArticleMangus, G. (2018)Red Flags: Why Xi’s China Is in Jeopardy. University Press.Silverstein, M. J.(November 2013) Ten Predictions for China’s Economy in 2014. Economy, HarvardBusiness Review. Digital Article.Yueh, L.(December 2015) China’s Growth: A Brief History. Business Economics.Harvard Business Review. Digital Article.
 

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