Emergence of China as a Global Trading Power Essay

Emergence of China as a Global Trading Power - Essay Example When the latest economical growth and development of new emerging countries is discussed, two countries' names emerge from nowhere. These are India and China. The growth in the trade sector of these two countries is surprisingly enormous. If this is partly due to development in the area of science and technology, there is much also that goes for a number of reforms, changes, and redefinition of trade policies and international trade relations. Moreover, there is much on the credit of Chinese distinctive cultural and management practices which makes this country a unique case study (Menkhoff and Gerke, pp. 87-89, 2002). The present paper looks at the issue of the development of China in the business world of the recent times; China is "likely to demand a strong voice in the WTO" due to its major role in present day trade operations (Kennedy, p. 75, 2002). The paper, hence, undertakes extensive research to investigate the causes for the development of China in trade regimes. The paper explicitly brings forward the number of theories of trade which have anyhow any link to the present growth of China in worldwide trade. At the end of the paper, the study analyses the data qualitatively and makes suggestions and recommendation in the light of the causes of trade growth of China. These suggestions and recommendations are meant to contribute to the existing literature of trade theories and development; as well as, they focus to contribute to a broader understanding of Chinese growth. They are also meant to focus those countries which may need to follow China for the economical growth. Trade Theories Reviewed A number of theorists have worked out different theories of trade to cope up with the challenges of trade. These theorists have asked such questions as can help trade to be more profitable, more expedited, more powerful, and so on. This section reviews major trade theories in order to bear a groundwork which is, according to the viewpoint of the present writer, necessary to comprehend China's growth in the recent scenario of trade. Classical economist seem to have defended the Mercantilists' view that the export of a country should be put to as much increase as possible; on the other hand, the imports of that country should be put to as much decrease as possible. According to Grimwade (2000), it was obviously possible only for one country because "one country's export surplus is another country's import deficit" which makes import and export both a requisite function of across-border trade (p. 30). Another objection was made to Mercantilism was that dumping large reserves of gold does not make a country wealthier because gold does not provide the citizens for "goods which could satisfy their wants" (p. 30). Thus, this trend met a death due to its zero-sum philosophy of trade. Next is the comparative advantage. According to this theory (by Smith), differences in costs as the bases for business are identified. To this Grimwade

Mangment 3000 Essay Example | Topics and Well Written Essays - 750 words

Mangment 3000 - Essay Example The Maslow’s hierarchy of needs is an important tool to assess the needs of the people. II. Providing adequate opportunity to the individual for showcasing his/her abilities, so that the individual is able to contribute to the best of his/ her ability towards the completion of the task and growth of the company. I consider the ‘recognition’ and ‘career development opportunities’ as the most valuable ones. If someone is able to accomplish the assigned task in a satisfactory manner and the management gives it due recognition, the manager personally congratulates the individual, then it proves quite helpful in boosting the motivational levels of the person. If such testimonials are followed by promotional opportunities, then it works wonders for the individual, the team, and of course the company. If the manager is aware about my preferences for doing good work, and he gives due consideration to my needs, this will certainly help in improving the interpersonal communication and mutual respect between employees and managers. My dominant needs are safety needs and self esteem needs. While working for the company having a decent pay package with reasonable assurance of job security results in boosting the self confidence of the individual. This in turn reflects on the manner in which the individual tries to implement the strategies and jobs assigned to him. Self respect is another key attribute which works up to the advantage of the worker. Nobody likes to work for the company if he is treated in a denigrating manner. These needs certainly help while functioning in a group. If we accord due respect to every team member, we are bound to get equal respect from each team member. This brings up the required team spirit for effective functioning of the group. It is worthwhile here to mention that a team is also composed of people with differing abilities, qualification and motivation levels. A cohesive team of highly motivated and