Regional Assessment Asia Essay

1322 words - 6 pages

Wikipedia, an internet encyclopedia source, defines globalization as "a social change, an increased connectivity among societies due to transculturation; the explosive evolution of transport and communication technologies to facilitate international cultural and economic exchange" (Wikipedia, 2006). In other words, globalization pertains to the connectivity that allows businesses around the world to interact thus move beyond domestic markets to other markets around the globe. A major influence on moving towards a global economy has been progressive trend toward the use of regional economic integration agreements. According to the text it "refers to the merging of historically distinct and separate national markets into one huge global marketplace. Falling barriers to cross-border trade have made it easier to sell internationally" These agreements are being touted as not just promoting spurs in economic growth and development, but also as an influencer in negotiating peace amongst the various people in the regions as well as across the globe.Asia is the world's largest continent covers approx 17.139 million square miles. Its inhabitants also make it the most populous with approximately sixty percent of the world's total population (Wikipedia, 2006). The culture and industries of Asia differ vastly throughout the various regions of the continent. Asia's economy lies primarily in agriculture. Asian countries with smaller populations such as Thailand and Vietnam are major exporters of agricultural crops such as rice, wheat, soybeans, tea, and other items. However, although producing some crops, countries with larger populations and access to power supplies, modernized transportation for people and goods, as well as access to raw materials such as lumber are more industrialized. For instance, due in part to Japanese investments in plants and cheap labor, the economy in countries such as Thailand and Singapore are booming at a steady pace. Additionally, the creation of railroad lines, linking the countries together thereby improving transportation methods in countries such as Japan, China, and India has greatly helped to improve the economies in those countries.Located in Eastern Asia, China is the most populous country in the world with approximately one-fifth of the world population (Wikipedia, 2006). The country is bordered on the west by Pakistan and Afghanistan, on the east by Russia and North Korea, on the north by Mongolia and Russia and on the south by India and Vietnam. The country also has readily available access to many water routes via the Yellow, East China, and South China Seas. China is a member of several trading blocs which include the World Trade Organization, WTO the Association of South East Asian Nations, ASEAN and the Asia-Pacific Economic Cooperation, APEC.China has experienced tremendous but fluctuating economic growth since the 1970s. Since the late 1970's the Chinese government has worked to change the economy to become more market oriented. This type of economy allows economic decisions such as pricing of goods and services to be decided by the economy's participant's and manifested by trade versus the original planned economy where decisions where made by one central agency (Wikipedia, 2006). This decentralization of control led to industrial growth for the country especially in regards to the production of consumer goods. In the 1990s, the Chinese government introduced legislature such as the opportunity for foreigners to become chairpersons of joint venture boards, which helped to enhance the country's image with other countries.The Chinese government has taken many steps in an effort to invoke progressive changes in its economy. In fact, the government has put a considerable amount of emphasis on improving global trade and investment relations in an effort to improve its standings. Primary trading partners for China include Japan, United States, and Hong Kong. 1999 IMF data shows that China's global trade stood at $363 billion with a $36 billion trade surplus.The Republic of India is the second most populous country in the world with over one billion people (Yahoo, 2006). The country is located in south Asia near Indian Ocean trade routes. Similar to China, India also participates in several regional trade blocs such as South Asian Association for Regional Cooperation (SAARC), the Indian Ocean Rim Association for Regional Cooperation (IORARC), and ASEAN. Trading partners include countries such as the United States, Japan, and European Union countries.Unlike China, India has continued to see robust growth in its economy since the 1990s. This has occurred in large part due to the governments efforts to ease restrictions and liberalize the economy as well as responding to a severe foreign exchange policy (Wikipedia, 2006). These efforts have allowed the company to develop into the 12th largest economy in the world with a GDP of $568 billion. There still remains need for growth in the country as India has a very high poverty level with many people unable to afford basic life necessities.There are several similarities between the Chinese and Indian economies. One of these similarities is the fact that both have an abundance of cheap labor readily available. By having these people readily accessible the economies in both countries in addition to their superb manufacturing abilities, allowed Asian companies to establish themselves in industries that were dominated by Western countries such as the United States. The influx of cheaper electronic and automobiles demonstrates how the Asian businesses were able to garner strength in those markets.The disparity in economic development of the Asian countries gives the impression that this region is not a prime location for economic integration. However, due to the desire by these nations to market themselves in a successful manner to foreign investors, as well as easing up on restrictive trade barriers, demonstrate that these countries are what is needed to continue to improve the economies of the various countries in the region. It also in many instances can be viewed as a means to work towards establishing peaceful relations in the region.Regional trade blocs are intergovernmental associations that manage and promote trade activities for specific regions of the world. The European Union, EU, North American Free Trade Agreement, NAFTA, Southern Common Markets, SCCM and Association of Southeast Asian Nations, ASEAN are some of the better known regional trading blocs (UC Atlas, 2005).There are benefits and drawbacks associated with the use or participation in trading blocs. These organizations have assisted with improving trade relations between participating countries in a region as well as on a global stage. However, there are some concerns that the proliferation of smaller blocs such as the ASEAN and SCCM can be a hindrance to larger groups such as WTO or NAFTA that are more interested in promoting free trade throughout the world not just within a few neighboring countries.ReferencesChina FAQ's (2005). Retrieved Sunday, January 22, 2006 from http://www.encyclopedia.com/html/section/China_Economy.aspEconomic Globalization. (2005). UC Atlas of Global Inequality. Retrieved Monday, January 21, 2006 from http://ucatlas.ucsc.edu/trade/subtheme_trade_blocs.phpIndia FAQ's (2005). Retrieved Monday, January 21, 2006 from http://www.encyclopedia.com/html/section/India_Economy.aspWikipedia contributors (2006). China. Wikipedia, The Free Encyclopedia. Retrieved 20:57, January 23, 2006 from http://en.wikipedia.org/w/index.php?title=China&oldid=36261520Wikipedia contributors (2006). Globalization. Wikipedia, The Free Encyclopedia. Retrieved 21:05, January 25, 2006 from http://en.wikipedia.org/w/index.php?title=Globalization&oldid=36657760.Economy of India (2005). Retrieved Monday, January 10, 2005 from the world Wide Web: http://en.wikipedia.org

RELATED

An external environment assessment of an aviation business - RMIT - Assignment

2319 words - 10 pages Singapore Institute of Management (SIM) Bachelor of Applied Science (Aviation) AVIATION STRATEGY IN THE GLOBAL CONTEXT (AERO2492) Individual Assignment 1: An external environment assessment of an aviation business Date of Submission: 2 September 2018 Name Student ID Tan Jun Jie S3647853 Table of Content Executive Summary 3 Introduction 4 Background 4 Airline industry 4 Current Problems 5 Operating Environment 6 Political 6 Economical 6 Social 6

"Globalisation And Its Impact On Both Developed And Underdeveloped Countries"

3439 words - 14 pages (Bhagwati, 1994). This paper will first define the concept of globalisation in an economic sense, along with the arguments against it. Further on globalisation, the theory of comparative advantage will be explored, including its impact on free trade. The next phase is an assessment of the theoretical linkages between trade and economic growth from the perspective of both developed and underdeveloped countries. As a result of this assessment it

International Organisations Essay - International Organisations UTS - Essay

4008 words - 17 pages . [1: Cory Koptizke ‘Security Council Resolution 2178 (2014): An Ineffective Response to the Foreign Terrorist Fighter Phenomenon (2017), 24(1) Indiana Journal of Global Legal Studies 309, 310.] [2: Seryon Lee, ‘The Feasibility of Reforming the UN Security Council: Too Much Talk, Too Little Action?’ (2011) 2 Journal of East Asia and International Law, 405, 407.] [3: Ibid.] [4: Edward C. Luck, ‘How Not to Reform the United Nations’ (2005

COMPARE AND CONTRAST AZTEC, MAYAN, INCAN - HISTORU - ESSAY

4842 words - 20 pages Chinese Nail Murders and Mongol empowerment of women. Student Assessment/Grading Policy This course will employ a variety of means of evaluating student performance. These include two take-home exams specifically constructed to prevent plagiarism, Briefing Papers to encourage evidence-based oral debates, and a Book Review designed to challenges students’ ethics and values. They are graded as follows: Midterm 40 points or 40% of total grade Take

Destination Image: Image Problem Of Turkey As A Case Study

7342 words - 30 pages evaluation of the affective quality of environment but the cognitive quality refers to the evaluation of the physical features of environment.Many scholars stress out that, affective image is largely dependent on the cognitive evaluation. In this case, affective evaluation depend on cognitive assessment of objects and the affective responses is formed as a function of the cognitive one (Lynch, 1960; Burgess, 1978; Holbrook, 1978;, Lovelock and

"Peace With Honour" - The Vietnam War Under President Nixon

5404 words - 22 pages temporarily divided into North and South Vietnam. North Vietnam came under the control of Vietnamese Communists who had opposed France and who aimed for a unified Vietnam under Communist rule. The South was controlled by non-Communist Vietnamese.The United States became involved in Vietnam because American policymakers believed that if the entire country fell under a Communist government, Communism would spread throughout Southeast Asia. This

Report Of Mannings In China

5039 words - 21 pages , 25% of household products and over 20 own brand products. Medical Beauty products can also be found in Cosmed.For Price, the prices for the same product are almost the same in these three brands, which are reasonable and welcomed by the general public. But it is noted that Watsons has adopted the differentiated pricing strategy for the physical stores so as to enhance its brand value and cope with the regional differences.For Place, Mannings has

Black Water Rafting, Internal And External Environment. Strategic Management

8971 words - 36 pages Loyal customers Key Players Owners/ Managers Museum of caves NZ Government Waitomo District and regional Council The bank is located in "minimal effort" because BWR has a positive financial performance; they have paid all their long term debts and they changed their mortgage in order to make the company's payments easier. BWR have a priority on loan repayment.For BWR it is possible to divide competitors into two categories - substitutes and

Literary Analysis - Hills like White Elephants - WR 303 - Literary Analysis

1555 words - 7 pages 1 Madison Evans Jake Sauvageau WR 303 Literary Analysis 8/30/18 Ernest Hemingway’s Hills like White Elephants The short story Hills like White Elephants by Ernest Hemingway is a story about a man and woman who are sitting at a bar at a small train station somewhere in Spain. They seem to be having a heated conversation about a mysterious “operation”. The author never explicitly says what the issue is between the man and woman, but it can be

An Analysis of Walter Freeman, Father of the Lobotomy - NKU HNR 151H - Essay

1433 words - 6 pages 1 Brandell Hannah Brandell Prof. Tamara O’Callaghan ENG151H-007 5 May 2017 Walter Freeman and the Invention of the Lobotomy In Steely Library’s digital archives, one of the postcards from the Gilliam family collection is entitled Western Kentucky Asylum for the Insane, Hopkinsville, KY. The postcard dates back to 1915 and portrays a beautiful building, complete with red bricks and white columns. Many of the insane asylums around this time were

Lost Treasure, A story about a psychopathic father - Amity college 11BB - Creative Story

1130 words - 5 pages Lost Treasure When I was a child, my late father and I would spend every moment of the summer season on the sparkling white sand of the beach near our home. We would dance, kicking up the shiny surface so that the droplets glimmered like diamonds in the sunlight. We would lie on our backs and stare at the sky, until the swirling clouds began to take on our imaginative shapes mingled together by our fantastical minds. We would grip imaginary

robotics revolution represent for human employment in New Zealand in the next 30 years - massey university - management

1357 words - 6 pages prefer robots to computers to deliver their healthcare needs, saying they enjoyed the assessment more and were more likely to follow its instructions (Broadbent, 2017). This could indicate that for healthcare, and presumably other emotionally intelligent people focused jobs, robots could be a long term cheaper and more effective solution than human employment. It is also reasonable to assume that robotics will continue to be used as a more cost

A review of “Indigenous remain ‘asset rich, dirt poor’ 25 years after Mabo”. - ANU - literature review

1115 words - 5 pages Free A review of “Indigenous remain ‘asset rich, dirt poor’ 25 years after Mabo”. In the article “Indigenous remain ‘asset rich, dirt poor’ 25 years after Mabo”, Indigenous affairs editor, Fitzpatrick (2017) presents the socioeconomic situation of the Aboriginal people, using the views of the former prime minister’s advisor, Josephine Cashman. Miss Cashman pointed out that the promises made to the indigenous people, presented in the Mabo case, had not

Comparison of Tom and Jay from Great Gatsby - English - Essay

749 words - 3 pages Annie Shepherd-Barron, Luxmoore Comparison Between the Portrayal of Tom Buchanan and Jay Gatsby in Chapters 1 to 6 Fitzgerald purposefully portrays Jay Gatsby and Tom Buchanan in contrasting ways to emphasise the variety of money within the American market, during the era in which the novel is set. A major difference between the two men is ‘new money’ and ‘old money’, where Gatsby represents ‘new money’, but Daisy and Tom represent ‘old money

term project of marketing strategy - global business management 1 st semester - essay

405 words - 2 pages Boston Pizza Boston Pizza is a Canadian fast food restaurant, which began in Edmonton, Alberta, on August 12, 1964. The restaurant had begun operations on 17 different locations in western Canada by 1970. In 1968 a royal Canadian mounted police officer Jim treliving noticed the growing popularity of Boston pizza and he bought the rights to start a restaurant in British Colombia. He was the first franchisees of Boston pizza. At present, Boston