Market System in China
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The People's Republic of China (PRC) plays a major role in the post-Cold War world. It is the world's most populous nation with approximately 1.2 billion people, and the third largest in land mass after Russia and Canada. It has nuclear weapons and is a growing military power. As one of the five permanent members of the UN Security Council, China has veto power over Security Council resolutions dealing with key multilateral issues, including international peace-keeping and the resolution of regional conflicts. China is also undergoing extraordinary economic growth and promises to be a significant economic power early in the next century. This research explores the economic development of the PRC and considers the special relationship between the PRC and Taiwan.The People's Republic of China was proclaimed on October 1, 1949, following the victory of Communist forces over the Kuomintang government, which fled to the island province of Taiwan. The new Communist regime received widespread international recognition, but it was not admitted to the United Nations in 1971 as representative of China (replacing Taiwan). From 1949 to the late 1970s, virtually all policies relating to the allocation of resources and the distribution of income were controlled by the central planners of the State Council in Beijing. Committed to a program of economic self sufficiency, China traded only with countries that shared its puritanical Marxi
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99, p. 7).
Historically, economic development and industrialization have been essentially urban phenomena, with rapid growth first occurring in large metropolitan areas and then fanning out to suburban and, eventually, ex-urban areas. This has certainly been the case in North America, Europe, and Japan. Singapore, Hong Kong, Tokyo, and Los Angeles are but a few examples of extended urbanized areas that are, and will continue to be, major manufacturing, trade, information, and financial centers.
Against this backdrop, the impulse to direct and reallocate China's internal resources and foreign investment toward lagging hinterland regions may prove ineffective. The experiences of the Western market economies as well as the former Soviet Union suggest that efforts to disperse industry in some sort of "geographically equitable" manner have usually failed. In any event, they have been quite expensive and have resulted in the serious misallocation of scarce human, technical, and capital resources.
Chinese Culture and Business Behavior
There are three essential characteristics of Chinese culture which impose themselves on business behavior: guanxi, face and renqing. Guanxi is the special relationships that two individuals have w
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Approximate Word count = 2566
Approximate Pages = 10 (250 words per page)
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