Business Globalization in China Essay Example | Topics and Well Written Essays - 750 words

Business Globalization in China - Essay Example To be able to create a comprehensive business report, we need to evaluate the background of business dynamics by keeping in mind the social fabric. Accumulating all necessary data regarding China's business prospects will require careful study of the government's past and present policy. We need to assess China's history to completely comprehend the progress and development of the Chinese economy. China offers a lot of compelling reasons that make it an attractive business destination and hence it is imperative that business entities have local knowledge about China and the different cultural, economic and business idiosyncrasies. To get a first-hand experience about the local business dynamics, we will administer a comprehensive interview with local entrepreneurs to get the essence of China's business environment. Additionally, we want to interview both successful and unsuccessful local and international entrepreneurs who have done businesses in China so as to get unbiased views. In addition to qualitative analysis of Chinese business customs, this report will have a quantitative analysis that will have statistical data and in formation that support our hypothesis. Surveys will also be carried out to create graphic and numerical representations with regards to the economic condition and the market system of China. The process of shifting from closed, protected and government regulated economy to a globalized economy is generally a turbulent one. However, the decision to shift had been a compulsion and not a luxury. The importance of globalization and integration with the world economy was in critical for the growth of any economy. Globalization has led to numerous improvements and innovation in technology and business, and has touched our everyday life. Globalization has not only opened the doors to foreign markets for Chinese goods, but it has also created numerous avenues of growth for other economies. Through globalization, we have experienced a balance of global economic and technological activities between countries from the Far East and countries from the Far North. Additionally, globalization has positively impacted small and micro enterprises all over the world. Regardless of how big or small the business venture is, it is inevitable for any company to adapt to new business dynamics. China's attempt for global expansion has triggered a growth of the country's economy, political and business system. In addition to foreign markets, the local demand has also increased tremendously and that has led to the initiation and growth of many small businesses in China. Due to this fact the standard of living, Gross Domestic Product and income per capita of the Chinese inhabitants have significantly improved over a period of 10 years. Moreover, the rapid abolishing of government regulations by the communist regime has brought countless small and micro enterprises to the forefront of globalization. China has become a string global economic force that other countries need to recognize. Hence, the new look China is a very important player in the new world economy scenario. 3. SOCIAL CUSTOM AND BUSINESS CULTURE Just like any society, China