During the last 30 years china had an astonishing economic

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Reference no: EM13351992

During the last 30 years, China had an astonishing economic growth, which is nothing less than a miracle. This phenomenal growth propelled China from being a poor country to an economic power house. China has already replaced Japan as the second largest economy in the world. Some experts estimate that China would surpass the US as the largest economy in the world by 2018. China's growth has caused some concerns in the US. Many think China has adopted a very different model so called "State Capitalism" and is emulated by many other developing countries. Education system in China likewise has produced a new generation of workforce in science and engineering areas.

Meanwhile several US politicians argue that China engages in unfair trade practices and that it is a currency manipulator. Many politicians similarly call for imposing sanctions on China. Some politicians likewise want to link trade with China's human right practices. This isn't new and is a familiar episode when Japan was on rise in the past. Temporarily along with BRICS, several other developing countries are on rise. After 2008 financial crisis, there is big historical shift underway politically as well as economically. How to reach customers in these rising emerging markets will be a strategic business value proposition.

Q1: How will this development change the global business environment as well as practice, as well as technologies and products/services offered?

Q2: What are the opportunities as well as challenges ahead for US businesses?

Reference no: EM13351992

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