1)“Compare and Contrast Business Systems in Japan and China. Answer with Reference to Relevant Theories and Use Comparative Country and/or Corporate Examples."

1)“Compare and contrast business systems in Japan and China. Answer with reference to relevant theories and use comparative country and/or corporate examples."

Post World War 2, Asia Pacific saw an economic boom, economies became stable and there was peace until the recession in 1973-1975, thus ending the economic boom. Since then there have been many ups and downs in the economies of the Asia Pacific region. This essay attempts to look into the business systems in Japan and China and compare them. From the 1950s until the 1980s, Japanese economy saw rapid growth and it is believed to be a miracle period. The 60s saw a growth of an average 10% , the 70s it was an average of 5% and an average of 4% in the 80s (Country Data,1994). Whilst China showed signs of rapid growth from the end of the 70s and since then they have maintained being the fast-growing economy till today with an average of 10% growth rate (Morrison, 2013). A 2009 report by the World Bank states that China and Japan have considerably done better than their equals in Europe and the US, in terms of economic performance (World Bank, 2009).

Each country does business on basis of their firms which differs from country to country. Business systems is a distinctive configurations of firms and markets which have become established in particular institutional context as the dominant ways of structuring economic activities (Whitley, 2000). On basis of this concept, a deeper understanding of Japanese and Chinese cultures and social systems would be essential.

A large number of common similarities due to land closeness between the Japan and China led to both countries sharing homogenous characteristics in their value systems and their religions which demonstrated their highly rich culture and sense of national identity (Padmalingam, 2002). However, because of differences in the development of economic policies after the war, it led to 2 fully modern and different civilizations. The differences can be viewed...