Learning Log 2020

LEARNING LOG RECORD SHEET: Tiina-Marjo Nousiainen 11.10.2010

SOURCE/FULL REFERENCEPete Engardio, Chindia, How China and India are Revolutionizing Global Business, Published 2007 |

DESCRIPTIONThe book is based on Business Week’s articles about China and India published during 2002-2005. It’s main message is that “The rise of China and India is beginning to transform global commerce, industries, and the workplaces (make work place singular) in many profound ways.” The book concentrates on economic and business environments, but also covers (also) topics like culture and social situations.China’s economy has turned from a communist and planned economy to a partially capitalist one since economic reforms started in the late 1970s. China’s economy is now growing faster than any other country. For two decades China has expanded by almost 10 per cent in every year. In ten years China is expected to be the World’s largest economy, followed by the USA and India. China’s competitive edges are for examples-huge domestic purchasing power, 1.3 billion consumers with rising income.-well-organised export industry and mass manufacturing companies-advantage of large scale in producing-foreign investments -low labour costs-huge (many) natural resourcesIndia In India liberalization and economic reforms started after a balance-of-payment crisis in 1990s. India’s economy has been expanding at a 6 per cent a year over last two decades. India’s growth is continuing as investment rises and more economic sectors open to competition. India’s competitive edges compared to China-1.0 billion population, which is growing faster than in China- cheap labour- modern stock market and private bank sector- India is a democracy: easier business environment and western legal institutions- strong entrepreneurship and new, creative and dynamic companies- more capital-efficient and higher productivity - high standard universities and more R&D facilities- more competence in software and...