|
| |
THE CHINESE MARKET.
Term Paper ID:29448
|
|
|
Essay Subject:
Changes in China.... More...
|
8 Pages / 1800 Words
9 sources, 11 Citations,
MLA Format
$32.00
Return to List of Papers
|
Paper Abstract:
Changes in China. The economic and cultural situation in China over the past decade. Western companies participation in the Chinese market. Some aspects of Capitalist approach in China's business. Roles of the World Bank and the International Monetary Fund (IMF) in China's development. Background of China's historical development. Changing situation in the 1990s. Growth strategy.
Paper Introduction:
Introduction
China is regarded by many Western business professionals to be the last great untapped market for goods and services. Largely insulated from capitalist practices and goods during most of the twentieth century, the country's large population nonetheless was greatly sought after by companies seeking to expand their global reach. After President Nixon's visit to China during the early 1970s, China and the West began building relationships that have resulted in Western companies being able to participate in Chinese markets, and in Chinese companies implementing capitalist approaches to some aspects of their business. This research considers changes in the economic and cultural situation in China over the past ten years, considers the outlook for the nation over the next ten years, and specifically examines the
Text of the Paper:
The entire text of the paper is shown below. However, the text is somewhat scrambled. We want to give you as much information as we possibly can about our papers and essays, but we cannot give them away for free. In the text below you will find that while disordered, many of the phrases are essentially intact. From this text you will be able to get a solid sense of the writing style, the concepts addressed, and the sources used in the research paper.
Another consequence of the population program is the aging of thenation, which will put additional burden on social programs to provide forthe elderly and tax the nation's resources. The nation has been cautious in opening its economy to foreignparticipation, and as a result has been spared some of the economicvolatility that characterizes its neighbors. The IMFrecently called on China to reduce its fiscal deficit in anticipation oflosses in the banking system similar to those of Japan's in recent years,and the Chinese government has taken the step of recapitalizing state-ownedcommercial banks and transferring poorly performing loans to assetmanagement companies. Women made significant progress in China during the 199 s as attitudesare changing regarding the roles of men and women in the nation. "What Will WTO Membership Mean for China and its Trading Partners?" Finance & Development (Sep 2 2): 22-25.Background Notes: China. In the 196 s, the Cultural Revolution set in motion events that wouldshape China's development for the rest of the century. The program has been a success from the standpoint thatpopulation growth has been slowed, but there has been an unintendedconsequence with far-reaching implications: male children are preferredover female children, and the nation has an imbalance of boys over girlsthat some analysts fear may prove destabilizing in years to come ("MenWithout" n.p.). In some cases, the birth of adaughter is simply not registered; in many cases, selective abortion isused to ensure that daughters are not carried to term (officially usingultrasound results for pre-natal sex determination is illegal, but it isalso accepted as common). Despite these concerns, the IMF is pleased with theincreasingly transparent way in which the Chinese economy is beingconducted and reported, and the IMF also has a positive outlook regardingthe economic development of China. The reason behind this imbalance is that boys are consideredmore valuable than girls in that boys are traditionally responsible forproviding for the parents in their old age. At a meeting of the APEC Finance and Development Program held inBeijing in mid-2 2, the deputy managing director of the IMF met with theChinese Vice Premier, and both indicated a willingness to engage incooperative efforts such as economic developments and activities geared tohelp the financial sector ("Chinese Vice Premier" 1 8146h9861). Still, there is greater economic participation by womenin China at this point than at the start of the 199 s, and this trend islikely to continue, although the likely trend of single men competing forjobs with married women could have an impact ("Gender Equality" 2). Japan has an even greater aging problem(the average age in Japan is already 41 years), but the social structure ofChina causes concern about its ability to support its aging population("China Demographics" n.p.). This researchconsiders changes in the economic and cultural situation in China over thepast ten years, considers the outlook for the nation over the next tenyears, and specifically examines the roles of two internationalorganizations--the World Bank and the International Monetary Fund--inChina's development. At this point, the IMF has had little direct involvement with China,but there are indications that the IMF would like greater visibility withinChina. (2 1). Village industries were encouraged, and farmers were given greaterlatitude to diversify their crops. By 1949, there were two Chinas: mainlandChina (now called the People's Republic of China), and Taiwan (officiallycalled the Republic of China). The project will bring agricultural cities in thenorth in contact with the southern seaports of Beihai and Fangcheng,facilitating the movement of goods to market. In the case of China, and other developingcountries, there can be considerable concern about the reliability of thedata provided. Washington, DC: US Dept of State.China Brief. By the time the protests were forcibly putdown, the world had witnessed China at its worst, and much economicprogress was lost as Western companies withdrew their participation in thisvolatile environment ("Background Notes" 8). While the IMF does send economists to countries to see first-hand how the nation is conducting business, their reliance on data providedby the government remains high. Largely insulated fromcapitalist practices and goods during most of the twentieth century, thecountry's large population nonetheless was greatly sought after bycompanies seeking to expand their global reach. Sincethat time, the World Bank has participated on a limited basis within China,but China has refrained from engaging in a close relationship with both theWorld Bank and the IMF due to the restrictions that both can impose oneconomies and even politics. The Relationship Between China and the World Bank, IMF The World Bank has been active in China during the time that thelatter sought membership in the World Trade Organization. Abortion does not carry the social implicationsthat it does in some other countries, and the procedure is easily arranged. However, the country hasrecognized the benefit that can be derived from participation inorganizations such as the World Bank and IMF, and actively soughtmembership in the World Trade Organization. Works CitedAdhikan, Ramesh and Yongzheng Yang. After President Nixon'svisit to China during the early 197 s, China and the West began buildingrelationships that have resulted in Western companies being able toparticipate in Chinese markets, and in Chinese companies implementingcapitalist approaches to some aspects of their business. The arrival of Disney in China, even in Hong Kong, may be indicativeof just how much change China has undergone in the last ten years sinceDisney, as much as Coca-Cola or McDonald's (both of which also haveoperations in China), is an icon of the Western business world. The consequences of a society which is heavily male-dominated intoday's world are not entirely clear. In addition, illiteracy among women declined from3 .1 percent in 199 to 11.1 percent in 2 , and there was a 13.7 percentincrease in the number of women attending high school. Taiwan claims independence from China, but China, inturn, claims Taiwan as part of its territory. China's Economic & Political Development in the 199 s As China entered the 199 s, then, it was a nation of 1.3 billionpeople, with nearly 1 million square kilometers of territory, a long andproud history of isolation, and a difficult recent history of entry intothe global political and economic arena. In 1997, Hong Kong was returned to China by the United Kingdom, and astandard of "one China, two systems" was adopted with regard to the waythat Hong Kong is being managed. Reforms were introduced again in the late197 s. Introduction China is regarded by many Western business professionals to be thelast great untapped market for goods and services. The IMF has supported the actions by these assetmanagement companies to reduce debt through asset sales and debt equityswaps. Even without greater participation as a lender, the IMF is likely toexert continued influence over the Chinese economy due to the weight thatthe IMF's opinion carries in international financial markets. Conclusion Although China was isolated from the rest of the world for much of itshistory, it has emerged as a powerful and attractive market in recentyears. However, half ofthe women who lost jobs with businesses run by the state felt that theywere dismissed because they were women. Key politicalleaders were accused of trying to introduce capitalism into China, andthere were purges and in-fighting that reached into the highest levels ofgovernment. There is an uneasy peacebetween the two, with pro-democratic governments (including the UnitedStates) offering some support for Taiwan, although that support is heavilydependent on the political situation at any time ("Background Notes" 4). In 1992, Deng Xiaoping visited southern China and renewed thegovernment's efforts to bring about economic reform within China.Emphasizing better living standards for all Chinese, Deng was able to movehis reforms forward, and the country continued to lobby for membership inthe World Trade Organization (the successor international organization tothe General Agreement on Tariff and Trade). In the country as a whole, 117 boys are born for every 1 girls; insome provinces, the ratio of boys to girls is as high as 135 to 1 ,respectively. However, China's recent acceptance to theWorld Trade Organization indicates that participation with the World Bankis likely to increase in coming years as China seeks to maintain the growththat characterized its economy during the 199 s. (2 2). Under the program, urbancouples are limited to one child and rural couples are generally permittedtwo children. China seeks to balance outsideinfluence with internal priorities, but with an aging population that isheavily male-dominated, it also recognizes that controlled foreignparticipation may represent an attractive growth strategy for its long-termsuccess. The World Bank estimatedthat four million people will be served by the road and that incomes in thearea should increase as a result ("World Bank Helps" 1 8 88h8878). Otheranalysts are less optimistic and forecast increased levels of violence byunmarried males, while still others forecast that the government might usethe "surplus" men for military activities in order to prevent politicalrevolution. Human rights issues were ofprimary concern among Western companies seeking to expand their operationsinto China, and government organizations (as well as non-governmentorganizations, or NGOs) also took a closer look at China's internalpolicies ("China Brief" 3). The island continues to enjoyconsiderably more freedom both culturally and economically than mainlandChina, and Disney is planning on building its newest theme park in HongKong. According to the World Bank,the average age in China is forecast to be 35.2 years in 2 11, and thataverage will continue to increase while the nation's population programremains in place and in force. Reformists were ousted and the nation returned, for a time, toa strict communist strategy. By 1989, it was clear that the reformswould not be easily implemented, however. The situation received worldwideattention in 1989 with martial law declared and massive demonstrations inTiananmen Square in Beijing. China continues to struggle with other social issues, as well; chiefamong these is its population growth and the unintended consequences thatits population policy has had. Background China endured civil upheaval, including a civil war, throughout muchof the early twentieth century. In 2 , theWorld Bank approved a loan of $2 million to build a 238 kilometer highwayfrom Nanning to Shuiren. In any event, the nation is forecast to have more than 3 million unmarried men by 2 2 ("Men Without" n.p.). Such support is likely to be noted by international sources ofcapital besides the IMF, and is likely to result in additional capitalflowing into China ("IMF Sees" 1 8236u5124). World Bank."China Demographics Ageing." China Business News (Jul 29, 2 2): n.p."Chinese Vice Premier Meets IMF Vice President." Xinhua News Agency (May 26, 2 2): 1 8146h9861."Gender Equality Improving in China." China Stuff (Oct 2 1): 2."IMF Sees China Boom Slipping Only a Tad." United Press International (Aug 24, 2 1): 1 8236u5124."Men Without Women." The Economist (US) (Jun 22, 2 2): n.p."World Bank Helps China Build Key Highway." Xinhua News Agency (Mar 29, 2 ): 1 8 88h8878. Foreign direct investmentis also likely to increase in coming years as Western companies seek totake advantage of China's increasingly open markets, and the World Bank andIMF are likely to be key factors in influencing some of that investment(Adhikan & Yang 22). Some analysts believe that theresults will be relatively benign: with women well-outnumbered by men, theycan choose those who are most successful as their husbands and therebyimprove their standard of living--this, in turn, will lead to greatereconomic competition by the males and improve Chinese society. The issue of Taiwan continues to be acontroversial one not only for China itself, but for its relations with therest of the world. With 1.3 billion people, China is one ofthe most populous nations in the world and implemented a controversialfamily planning program more than 2 years ago. In onesurvey, more than 8 percent of respondents indicated that they were nolonger "afraid" of making more money than their husbands, and slightly morethan half rejected the traditional Chinese belief that men are bornstronger than women. The number of governmentworkers was reduced during the 199 s, and increased efforts were made towiden the economic reforms that had begun in the rural sections of China. The IMF releases studies regarding the Chinese economy, but tends toemphasize that its reports are based on information provided by the Chinesegovernment. Inflation and social problemssuch as increased crime caused concern, and students began to organize totake advantage of the reform environment. Outlook for World Bank and IMF Activities in China China assumed the membership of Taiwan in the IMF and World Bank inthe 198 s, an early step toward ending its isolationist policies. Also, although incomes for men andwomen increased during the 199 s, women earn, on average, only 7 .1 percentof what men earn.
If this paper is not what you are looking for, you can search again:
or
Click here to request an essay written just for you.
|
|
|
