Global Business in Emerging Regions Coursework Example | Topics and Well Written Essays - 3500 words

Global Business in Emerging Regions - Coursework Example China’s economy is worth $17.6 billion which is slightly higher than America’s economy that is worth $17.4 billion. The USA held the top position in world economy for more than 140 years since 1872 when it overtook Europe to become the largest economy. However china has recently overtaken the US economy (Carter, 2014). Although there are doubts about this no, there is no denial of the fact that China has experienced the fastest growth in economy and is likely to remain at very good economic condition for several years to follow. There was a time when China’s goods meant to be associated with cheaply made goods and of poor quality. Things have however started to change with the passage of time. As times have changed, there has been strengthening of the economic base and companies from around the world have started opening their manufacturing base in the country. One of the reasons for so many companies globally to manufacture their goods and products in china is b ecause of the availability of cheap labour and a large consumer base. Through its international trade China has accumulated $1.9 trillion in foreign currencies. The nine key industries are autos, steel making, electrolytic aluminium, rare earth, IT, cement and ship building (Jianfeng, 2013). The issue with China’s heavy industries is that it is plagued by over capacity. The business environment in China is shaped and shrouded in mystery. However consumers behave pretty much the same everywhere and the competition is also similar from one country to another. To understand the Chinese market one needs to understand the big trends that are shaping the Chinese market. These trends are like the big tectonic plates under the earth’s surface. If one begins to understand and appreciate these trends then the within the chaotic scenario that exists on the top actual picture can be deciphered. These trends play a major role as