China 's Gross Domestic Product Essay

Globalization has, for better or worse, altered the economic arena for every country in the world. For many less developed countries, globalization has leveled the playing field so that their economies can compete with the larger, more developed ones such as the United States and other large western economies. For instance, technical engineers in India and China are now just as qualified as engineers in America, but at half the cost. The once large and prosperous service sector in the United States as well as telemarketing services have largely been sourced to India as a large exodus of American multinational corporations find cheaper workers who deliver comparable quality. This then seems to be the essence of globalization - businesses

For an economy other than Australia, explain how government development strategies have responded to the process of globalisation.

Since the reform and opening up, the economy of China grows significantly, as an emerging economy, China's economy has made tremendous contributions to the global economy, and Renminbi has become one of the most important currency in the world. According to the survey conducted by China National Bureau of Statistics found that from 1979 to 2012, China has attained an annual average growth rate of 9.8% for its national economy, while the annual average growth of the world economy is only 2.8 % during the same period. In past 30 years, China's GDP surpassed Japan’s, China became the world 's second largest economy, in addition, the huge total volume of trade makes China become the world 's largest trading nation. The contribution of China’s

Young couples often dine there “because the eating environment is considered romantic and comfortable” (Watson 50). They had blocked off sections to accommodate for the young couples that they called “the lovers’ corner” (Watson 51). They even brought the playfulness of the American McDonalds to Beijing which they called the “children’s paradise” where they could play and eat at the same time. They even had receptionist whose tasks were “to establish long-term friendships with children and other customers who frequent the restaurant” (Watson 61). McDonalds in Beijing is considered by most as a high fashioned placed that is fairly affordable especially because the people saw McDonalds as “a formal restaurant where they had paid for full service” (Watson 52).

Despite Yum! brands huge success in china, there have been a lot of risks and threats in entering the local market. In respect to that its critical to mention the oppositionof the local population in perceiving fast food industry and especially western culture entering their own market.

The population, economy, histories, politics boundaries, and religion of China and the United States are not similar. Looking at the food culture between the two countries is very different. When a person speaks about the Chinese food culture, they need to praise the taste, color, shape of the Chinese dish, and smell. In china, most of the people take wheat and rice as their daily main food. They believe that fruit, wheat, vegetable, and rice are the best food to boost the health of a person. Consequently, meat is not a major food for them since they believe that it causes “health problems such as high blood pressure, and heart attack.” In China, the cooks need to decorate the food to make it more delicious than never expected. On the

With China ranked second to the United States as the world’s strongest economies I see it fit to take advantage of this market because there are not many American fast food companies in the country and they don’t offer the same type of meals as we do. Of all the countries to choose from I see China as

If we look at the fast food industry today there is room for success. Based on RNCOS’ new US Fast Food Market Outlook 2010, fast food industry growth rate is strong. Especially, hamburger sales growth is reported at the healthy rate of 4.6% in 2008. The market is expected to grow to cross the $170 billion marks by 2010.It is believed that due to the economic meltdown, fast food industry is benefiting from people being more prices conscious. People who were enjoying nice means at fancier restaurants are now turning their choice of means to more economical ways.

There are several reasons why Kentucky Fried Chicken is successful in China. The first reason for KFC’s success in China is their growth strategy. KFC in China decided it’s goal was for rapid expansion and to develop in smaller cities rather than large ones. This business decision was done to reduce costs. KFC would be able to be the first in a new area and have a better choice of locations. This also meant free publicity from the grand opening and would be receptive to mall owners. Kentucky Fried Chicken was the first Western fast food chain to arrive in China and a KFC location is opening at a rate of about one a day. They are successful in this strategy, because they are thinking outside the box. Most fast food chains are opening in large cities and competition is everywhere. Opening in smaller areas reduces costs, gives customers a feel of something new and exciting and has less competition.

Not only are the UK people deeply influenced by fast food. Almost every day there is a new Kentucky Fried Chicken restaurant being opened in every 650 cities in China since the first Kentucky Fried Chicken restaurant opened in Beijing in 1987 (Maggie, 2011). The huge market demand of fast food brings the explosive growth of the fast food market which represented by Kentucky Fried Chicken. The number of Kentucky Fried Chicken restaurants had reached four thousand in 2012 (Liu, 2012). Due to differences in geography, transportation and staff performance, each of them has varying degrees of operating performance. The one in Heishijiao Street is “the fast-food chain 's 4,000th Kentucky Fried Chicken restaurant in China”, said Zhu Zongyi, the president of Yum Brands China Division (Liu, 2012). The problem with this Kentucky Fried Chicken restaurant is that it does not have the

If current trends continue, China may be the world’s largest economy by 2020. Discuss the possible implications of such a development for (a) the world trading system, (b) the world monetary system (c) the business strategy of today’s European and U.S. global corporations, and (d) global commodity prices.

When one thinks of a major Chinese city such as Shanghai or Beijing, images of sidewalks overcrowded with pedestrians, thousands of bicycles lined on the streets and litter spotted throughout public areas may come to mind. However, with the modernization and industrialization China has gone through, urban citizens are now more frequently using public transport, automobiles are increasingly being used more and people are hired to keep streets as clean as possible. With a little over three decades having past since the major industrial development, China has industrialized at an astonishing rate. This is especially apparent when comparing its much higher industrializing rates to

estern and local franchise brands have developed group is largely a young, upwardly mobile, and aspirational significantly in China over the past 15 years, as the two-income family demographic with one child and Chinese consumer has become an engine of considerable discretionary income. economic growth and the country’s business environment has Food

China possesses relatively small amount of natural resources such as arable land, renewable water, and metals. On the other hand, the African continent is resource-rich compared to its population. Given the country’s relatively scarcity, firms in China were inclined to expand into Africa in order to find new supplies. Africa has been an attractive developing country for foreign investment. The country's economic transformation had opened new business opportunities for investors. In this new era, smart investors recognised Africa's potential. The country's main driver now are no longer extractives, the continent is open for new investment to meet its increasing domestic demand. In addition to the fast urbanisation in Africa, poor

China is one of the few countries in the world where McDonald's is not the dominant chain in the world of western food. And that's not by accident. The imminent success of KFC in the Asian giant can be attributed mainly to the proper understanding and evaluation of the cultural context.