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Analysis of Business System in China

First of all, the China economy today has the world’s most rapid growing economy in 2009 (Qi,2008; The Economist, 2008; Macroeconomics, 2008 as cited in Peng, Moffet, and McAdam 2010). China’s fast grow economic expansion is being achieved by a system of industrial governance and transaction that differs from the experience of Western (Child, 1994 as cited in Peng, Moffet, and McAdam 2010). According to the economist the forecasts for China Gross Domestic Product (GDP) growth up to 10.9% from 9.0% for 2010 (Lesova, 2009 as cited in Peng, Moffet, and McAdam 2010). The reason of China’s economy growth is because of the strong international competitiveness and the boost of healthy domestic economy (The World Bank, 2008; The World Bank Office Beijing, 2008 as cited in Peng, Moffet, and McAdam 2010).

Referring to the China economy today; it is very interesting to look the business system of China. The business system of China has progressed from along unstable politic and turbulent history to discover for itself a set of winning industrial formulae (Hasegawa and Noronha 2009).

The recovery of China is quite simple and with high respect this is due to the political and economic skill exhibited in the recent transformation of its economy (Hasegawa and Noronha 2009). China suffered the relative turn down for the most of 19th and 20th centuries; therefore in 1980 it’s recovered by Deng Xiaoping to market-opening reforms (Hasegawa and Noronha 2009). Deng Xioping made the true revolutionary savior of China which makes modern condition in the economy market, for example he made the “special economic zones”, tried various formulae for recovery of agriculture and industry, and allowed the return of the private entrepreneur (Hasegawa and Noronha 2009). As a result, the private sector of the mainly small and medium enterprises now have grown spectacularly about 65% of the economy (Hasegawa and Noronha 2009).The...