Question

Choosing one of the countries listed below as a host nation. Make the argument that the socioeconomic advantages outweigh the disadvantages of international trade. No more than 2 people may choose the same country – first come/first pick. Your responses to your classmates must include a comparison of an alternate country from your initial post. China Nigeria Egypt Thailand Argentina Cuba India Mexico Vietnam Venezuela Peru South Africa Brazil Croatia Malaysia Colombia Turkey Albania

Answer 1

ANSWER:

I have choosen my host country to be China. China is one of the fastest developing nations in the world. The socioeconomic factors that have allowed China to become such a large economy and outweighing the disadvantages of international tradeare as follows:

-- Labour supply: Plentiful supply of workers is available in China with a steady stream of rural-urban migrants in search of employment.

--Wages and unemployment: If workers in China demand higher wages, there are numerous more workers who will take the employment available. It has risen the profit margins and as a result attracted inward FDI as Uunited States, European and Japanese companies open more factories under the licence in China.

--Female participation in the workforce: The workforce of China is characterised by a higher than average female participation in the workforce.

--Political system : In numerous ways, the planned economy of China, where the state controls economic activity instead of private business, has accelerated economic growth as the government has excel its control on all decision-making

--Strong leadership: There is a participation of strong leadership from the head of state that has been a prime factor contributing to economic success

--Free market economics: This strategy was initiated by China and now is beginning to become phased out in favour of Import Substitution Industrialisation where in the consumer products imported for China’s growing middle-class are rising being made in China, such as house- and office-furniture, cars, and domestic white goods

--Private enterprise: For several years all manufacturing in China was state owned and operated, however with private enterprise participation economy has been restructured

--Investment in infrastructure: The China government has built many new roads, to develop the rail system and made main rivers navigable all year round

--Education: Literacy levels of China have increased dramatically over the past 20 years and thus have both large numbers of skilled and unskilled workers

--Location: The geographical location of China has geopolitical significance as its proximity to customer markets and trading partners

--Going global: China begin to globalise economically by buying up foreign companies in a Europe and North America particularly

--Raw materials: China has abundant wealth of natural resources, having vast reserves of oil, coal, and natural gas.

--Confucian values: The degree of control and authoritarian structures in China are comparatively more accepted in the nation than in most western cultures with their emphasis on individualism