World Markets Essay
China is proving to be one of the fastest growing economies globally. Over the years, the country has successfully maneuvered in the world markets. This transition that continues to be experienced over the years is directly related to China’s concept of following trends that are more open and friendlier to the economy. More efforts that the Chinese fraternity has continually worked for on its own have resulted to the changes experienced in its economy. Survey indicates that the sluggish movement of China in the wake to a new economical market as critics had cited could be apparently the most appropriate for them.China is ranked second among countries with large economies after United States.
Its gross domestic profits stood at a margin higher than anticipated when it was measured in 1997 on the purchasing power parity. Later on in the same year, it comfortable stood at position three in terms of exchange rates. Statistics also show that China is drastically growing and in fact in the past quarter of this century, their average gross domestic profit read an astonishing figure of above 10%.Business though is not well as usual because, China is facing demonstrations over its breach of human rights and policies in Tibet.
Humanity lobby groups and activists are calling upon all participating countries to stage sabotage on the Olympic Games that are meant to happen in China. As seen in all countries that have once hosted such international games, the volumes of business are greatly boosted and in turn the living standards rose. If this unfortunately happens they will loose quite a great deal.China’s approach on international business and marketing has seen other foreign investors flock that country. One of the policies in place is the think local act local concept.
This is mainly focused on promoting local products and innovations. At one time, a crowd of people dressed in blue and red jackets with the phrase I love China in scripted, on China’s streets waving flags, one expected that the people would in fact be Chinese but NO, there were also foreigners. The lot was in a venture with an American pharmaceutical company whose aim was to promote corporate development.China has made it mandatory to provide individual training on personal courage, tolerance, devotion, and determination spirits. China firms provide good working terms and conditions which in turn has increased their performance-boosting their economy.
To cater for the setbacks of individualism China embarked on efforts towards practicing togetherness in contrast to earlier concept of heroism. As a result, the rate of business is booming with sales hit high marks locally and also universally. In turn, China is currently stable in terms of international business and marketing.China also practices a tradition of society promotion as part of their community relations.
In turn people appreciate their efforts by purchasing their products which explains their positive gross profit margins. Social responsibility is another strategy that China is characteristic of- this is very good for business and marketing. China’s business is also merited by the fact that their labor supply is high. Their population facilitates twenty four hour production. Mass production and consumption seems to be working for them.Even in America products from China are easily traceable, from domestic to industrial requirements.
Selling at cheaper prices also fetches huge markets for them and as a result enormous income. China has also at times awarded companies that have established themselves in their state, General Motors has been enjoying share from Chinese Isuzu, Daihatsu and Daewoo. As they earn, the Chinese economy continues to grow further. It is one of the strategies that have improved China’s position in international business and marketing.In the wake of all the Tibet controversy and drama, companies associated or working close with China will be greatly affected. This is because; many people are against their policies in Tibet.
In fact, majority support their exit out of that region. Firm stocking their products are worried that they might suffer further loses if the Chinese government does not rise to the occasion and settle the stalemate. Sale have drastically gone low and survey shows that the effect could even be worse than expected if people continue to boycott their dealings.What China and its affiliates are under going is a test of times.
Any time they might be scrambling if all does not go well or pick up. Effort to restore confidence that they are working on or are rather empathetic seems to be failing. Some companies from America that have mergers are already re-thinking about the deal since they feel that business is not as usual. Some will soon walk out if something is not done about the China –Tibet conflict. I think as close trade partners, if you can’t fight them join them is challenging their decision- to stay or not to.In conclusion, if the Olympics are boycotted, China will face a major draw back.
Facing of course the level of investment put in to facilitation of the international games. If on going calls to sabotage the event and their products succeed, China will be on crisis. It will be a major disadvantage on their transition towards Excellency in international businesses, markets and their economy.REFERENCES:Piset Wattanavitukul’s (2003) Awakening Dragon: retrieved on 05/10/2008 from the http://www.apmforum.com/