Order Description
Hello Writer, this assignment is associated with order number 81586828.
This assignment entails to respond to 3 students regarding their response based on the video from order number 81586828(the emergence of China video-
https://video.mit.edu/watch/the-emergence-of-china-in-the-global-economy-9103/
The details of the assignment is to respond to 3 students and provide feedback on their post. how does it align with the video,what parts of their writing do you agree with ? Student responses must have at least 300 words. thanks
#1 student : Tara
The video presented by Mr. Jerome Lemelson, was very insightful!
Approximately three decades ago, China was considered a poverty stricken and farming countryside, (Randall, et al. 2008). As the demise of communism transpired, and the adoption of capitalism took shape, China has since then made tremendous and world wide noticeable progress economically. Lemelson (2004), suggest that China has the lowest purchasing power parity which works to their advantage. This means that as a result, China has a high selling proposition so they can produce products for cheaper labor cost than most other countries, which make their PPP very lucrative and attractive to other countries to buy products from them, (Lemelson 2004). But because of their Per capita income being so low, $870.00’s it is not equally beneficial for countries to sell goods to China, (Lemelson 2004). One example of how they have become such a powerful economic engine within the global landscape is that in the year 2008, they held their first Olympics (Randall, et al. 2008). Comparatively Lemelson (2004) and Randall et al. (2008) both contend, that although China’s has experienced remarkable and rapid proliferation economically, as a whole, the country is still gradually becoming a global counterpart/player and in the growing process (Randall et al. 2008).
Another contribution that has helped to make China a competitive and global economic change agent/player is the fact that they have high levels of Foreign Direct Investments coming in from other countries, (Lemelson 2004). Lemelson (2004), explains that foreign direct investments are not monetary, rather it is “markets, technology, engineering skills, and someone to teach another person how to do it” (Lemelson 2004). Finally, China and Hong Kong both have staggering amounts of foreign Direct Investment dollars some $550 billion dollars and this helps them have a high rate of bowering power as well, (Lemelson, 2004). Lemelson, 2004 also states it would be two centuries before is at the level of the U.S. and or other developed countries, “they would have to be a marthon runner to do so and its hard to catch up”(Lemelson, 2004
Student #2 Tana
Over eleven years ago, Dr. Lester Thurow presented an engaging explanation of the economy in China and how it played on the world stage. Of significant concern Thurow highlighted the theft of intellectual property, the importance of inventories, and the inaccuracy of statistics, attempting to adjust them.
Intellectual property rights were nonexistent in China in 2004, and it presented major challenges for companies trying to move production to China (Thurow, 2004). One way to deal with intellectual property rights is through diversifying production. By breaking down production into components based on ones intellectual property and spreading that production to different locals, it is more difficult for intellectual property to be usurped (Perkowski, 2012). Perkowski (2012) illustrates how important it is to thoroughly think things through when project planning, explaining that the decision to produce goods in China may lead to a significant new market, but shortly thereafter could lead to the loss of that market as well as established U.S. markets, when a company’s goods are reverse engineered in China. Though it has been over a decade since Dr. Thurow’s lecture, it does not appear that anything has been done in China to protect intellectual property rights.
The importance of workflows in project management is also apparent when dealing with inventories, Dr. Thurow explains the wider implications of how inventory drives both recessions and expansions. In recent days low inventories have been blamed for the U.S. 2015 fourth quarter poor performance of the GDP (Soergel, 2016). Soergel (2016) goes on to explain that low inventories were a reactionary result of an inventory build up in late 2014. So, though there was not a lack of inventory, just the lack of increasing the inventory can drastically affect the economy. This can have many other effects on the profit potential of a company that need to be considered when making decisions.
Lastly, as a global leader, one should consider the reality of the market in China. Thurow (2004) explains that though the population is high, the market for goods in China is small because the people do not have any money, making on average $1000 annually. Thurow also claimed that the China’s economy was not really growing at the rates claimed, between 9% and 10%. The 2014 GDP per capita in China has been reported to be $13200 and their GDP growth rate was 7.3% in 2014 (CIA, 2016). It appears that China has made significant progress in the last decade and possibly the market for goods in China would be more promising in 2016 than it was in 2004, because the people have more money to spend. The lesson of China may be that slow and steady wins the race.
Student #3 Michael-
Happy Monday, all,
In his lecture, “The Emergence of China in the Global Economy, Lester Thurow provides an overview of China’s transition from an isolated nation to a known, and perhaps even slightly feared, world powerhouse, using some strategic global leadership strategies that could be a model for others (2004).
The first strategy that is evident is Deng Xiaoping’s abrupt 1978 shift from Communism to Capitalism that abolished communes and gave land to the peasants; branded the nation as a cheap place to make goods; and caused other rippling effects, such as quadrupling agricultural production in roughly a decade and precipitating the collapse of Communism in Eastern Europe (Thurow, 2004). Similar to Kufour (2009) with his support of small cocoa farmers’ entrepreneurship, Fernandez’s (2007) sustainable built environment examples, and Ahluwalia’s (2009) “synergies” that encouraged partnerships, Deng Xiaoping was willing to try a new approach (Thurow, 2004).
Within this larger strategy is a connection to the world via trade and partnerships as well as willingness for leaders to set aside their own personal agenda. As Thurow (2004) explained it, leaders tend to support the system that benefits them: If it makes them leaders, the system is good; if it jails them, it’s bad. This analogy could certainly be flipped as the switch to capitalism for China, green building, cocoa production via entrepreneurship, and “synergies” all benefitted their respective leaders and countries as detailed by each speaker (Thurow, 2004; Fernandez, 2007; Kufour, 2009; Ahluwalia, 2009).
What did the rest of you see as the main strategic global leadership strategy evident in the presentation? How could we apply this in our own respective organizations?
