...2. Dealing with China: An Insider Unmasks the New Economic Superpower As President George W.Bush’s Treasury secretary from July 2006 through January 2009, Henry Paulson was the president’s leading policy adviser on both domestic and international issues. He is well know to the world at the time of the financial crisis in US. Henry Paulson has made over 100 trips to China and developed intimate relationships with China’s political elite, including Presidents Hu Jintao and Xi Jinging as well as its banking giants, most notably the industrial and Commercial Bank of China’s chairman Jiang Jianqing. Therefore, he has a depth knowledge about China’s economy and still been watching China’s emerging economy until now. In his new book, he describes China’s recent rise to global supremacy and the challenges that lie ahead. He also points out that China is American’s most important economic partner and that how to corporate intelligently to make both nations benefit in the future. In the United States, banks and capital markets are more stable and better capitalized than they were in the financial crisis 2008. As changing in government regulators and American banking system, US still the largest and richest economy, with a normal GDP more than twice the size of China. But according to Paulson, he warns “It’s not a question of it, but when, China’s financial system, particularly the trust companies, will face a reckoning and have to content with a wave of credit losses and debt restructuring”...
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...Leonard Bilal Blacklock AC0325687 World Civilizations I (HS150) Lesson 6 Assignment 6 03/04/2015 Sui Dynasty (589 – 618 CE) was a short lived Imperial Chinese dynasty, preceded by the Southern and Northern Dynasties. It unified China for the first time after nearly four centuries of north-south division. It was followed by the Tang Dynasty. Founded by Emperor Wen of Sui, the capital was Chang’an. His reign saw the reunification of Southern and Northern China and the construction of the Grand Canal, connecting the Yellow and Yangtze River for easy trading. The canal was used to carry rice and other agricultural products. Wendi was the first emperor to build a centralized government, created legal codes (social security); Buddhism was also spread and encouraged throughout the empire, uniting varied peoples and cultures of China.(Refer to pages 277; Wikipedia,2015). The Sui dynasty which reunified China after nearly four centuries of political fragmentation during which the north and south had developed in different ways, played a part far more important than its short span would suggest. In the same way that the Qin rulers of the 3rd century BC had unified China after the Zhanguo (Warring States) period, so the Sui brought China together again and set up many institutions that were to be adopted by their successors, the Tang. Like the Qin, however, the Sui overstrained their resources and fell. And also as in the case of the Qin, traditional history has judged the...
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...Leah Schneider China: To Float or Not to Float Questions 1. What are the symptoms of an undervalued currency? Use this for the case of China in 2006. The symptoms of an undervalued currency are an increase in demand for that currency without a complementary increase in exchange rate. This is happening in China as companies locate themselves within China to take advantage of the favorable exchange rate. 2. What are the probabilities that the Chinese government will float and/or allow the fx rate to appreciate in the medium term? The probability that the Chinese government will float the Yuan is low. There has been very little organic, non-governmental movement of the Yuan in the past. The Chinese government has a history of keeping the Yuan low to encourage exports. They may in the medium term allow the Yuan to appreciate further than the 2.1% of July 2005. 3. What has changed since 2006 - present? The Yuan has appreciated since 2006 going from 8 Yuan to a dollar to 6.5 Yuan to a dollar, a rise of 20%. This has caused a rise in export prices and less of an advantage for China. 4. What would be the implications of an appreciation of the Yuan for ABB? The Yuan appreciating might be bad for ABB. They have a long term plan of growth and improvement for their Chinese facilities, which would now be more expensive. However, the appreciation is not all bad. ABB has 6% of its profits in Yuan and with the appreciation of the Yuan; this money would be more valuable against...
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...The Chinese Dance Workshop was very interesting. There was a lady who gave us a brief background of the dances before the performances. She said that in Chinese dancing ribbons, drums, and costumes are what make their performances. Chinese dancing has been around for over five thousand years. The main lady who was demonstrating each dance was wearing green pants, red shirt with a green design on it and had a flower pin in her hair. The first performance was a Folk dance. The song played with that dance was called “Open the Red Door”. Her props were two red clothed handkerchiefs, with a very decorative design on them. The second dance is usually performed in public places. A main event that it’s performed at in China is the Lunar Festival. Her props for this dance were a silk fan and one green handkerchief. They had a little trouble with the music at first but got the problem fixed. The last dance was a red ribbon dance. This dance is mostly performed during celebrations. Her props for this dance were all different kinds of ribbons. The last twenty five minutes was for people to participate in the event. You were allowed to go up and learn how to use the ribbons. They ended up learning different ways to use the ribbons, and performing a dance overall. During the participating segment of the workshop the lady who was giving background information said Chinese dancing is all about the wrist. Also, when Chinese dancing you put your heal down first, unlike us Americans who put our...
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...MUSICAL INSTRUMENT OF CHINA Erhu - Bowed String Instrument * The Erhu has a small body and a long neck. There are two strings, with the bow inserted between them. With a range of about three octaves, it's sound is rather like a violin, but with a thinner tone due to the smaller resonating chamber. In the 2nd orchestra they are usually divided into 1st and 2nd parts. The Erhu first appears about 1104 AD during the Song Dynasty. We bought ours in Zhengzhou in 1999. It hangs on the wall in our Great Room. You often see blind men playing this instrument in some of the big cities. I always enjoyed listening and gave them money for their efforts. Er is two in Chinese. Sheng - Wind Instrument * This is one of the oldest varieties of Chinese instruments. It first appears in 551 BC during the Zhou Dynasty (1111 to 222 BC). It consists of a bundle of between 17 to 36 pipes seated on a small wind chamber. A free brass reed is placed in the root of the instrument. Coming in soprano, alto, and tenor models, they have a great clarity of tone, and compensate for the lack of brass in tutti orchestration. Tutti orchestration means that all instruments are to take part. We bought this instrument in a shop in Zhengzhou, Henan. Plucked String Instrument – Yangqin * The Yangqin comes in a variety of sizes. The Yangqin is a dulcimer played with bamboo mallets, with the size of a chopstick, and one held in each hand, are used to hit strings in...
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...China in Africa Christopher Ransom On October 24, 2013, Professor Deborah Brautigam, from the School of Advanced International Studies at Johns Hopkins University, spoke on China’s impact in Africa. She began by discussing China’s thirst for resources in the area and how it was evident from her very first visit to Liberia in 1983. Professor Brautigam has written two books on the subject: Chinese aid and African Development and The Dragon’s Gift, so she seems to be a very reliable source of information. Initially one would think that the involvement is very big with twenty-five big dams built by Chinese funding, but a closer look shows that only five of the twenty-five were actually relevant operations of the Chinese. With that said, she did say that the engagement with Africa does present a very difficult situation with the tree and ivory demand of China. The high demand of both these goods makes for a very unhealthy and dangerous situation to the environment of Africa. Professor Brautigam then spoke on the partnership of China and Sudan and the deadliness of this. China is the largest supplier of guns to Africa. It goes without saying that this is not a good thing and results in a very dangerous atmosphere. Even with all of the downsides to the partnership of China and Africa Professor Brautigam did want to strip away all of the myths of the relationship. To begin she discussed how long they have been there, which has been since about the 1950s and has really ramped...
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...People who have seizure disorders, lung, liver, and heart or kidney problems should inform the doctors about it before opium is administered to them. Opium has many side effects like nausea, constipation, drowsiness or itching. Some of these side effects are short-term while others are long lasting. Opium use overdose can cause anxiety, chills, coma, constricted pupils, depression or usual weakness. It is a very addictive drug, making it very important for proper monitoring of its use (Lovell, 5). Two Opium in China was not first introduced by the British. Opium was first introduced in China by both the Turkish and the Arab traders in the early 7th Century. The British only helped in the growth of the opium trade in China. They developed the various opium traffics in the 18th and 19th centuries. The British took advantage of the opium grown in India and sold it in the growing opium market. The British only used the trade of opium in China to have their hands on the Chinese silk, pottery work, and tea. British used opium trade to fix the trade imbalance between...
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...China Internship Reflection Scott Smith 8/29/2012 International Business The Other End of the Spectrum The Chinese Experience My trip to China was a wonderful experience. There were so many good times accompanied with a lot of learning. Some would think it’s tough for an American to survive in China without knowing the language. In all actuality, it’s not too difficult; Chinese people are very friendly as well as welcoming. Beyond the cityscapes, China has beautiful colorful landscapes much different in wildlife and appearance than those found in the United States. I made a lot of new friends and some great connections. Overall, it was an incredible journey in which each day was a new adventure. Most of the time I spent in China was occupied with hard work and learning the ropes. I saw how every component played a role in the operation of the company, Hartford Technologies. In my downtime, I went to the skatepark to skateboard and make friends. I met people from all over the world; people from France, India, England, Ukraine and Russia. It was quite the humbling experience. Chinese Culture Chinese Culture is much different from our American culture. To an extent, Chinese culture is very misrepresented in America. For instance, most Americans believe the Chinese diet consists of pork fried rice, egg rolls, orange chicken, General Tsao chicken and fortune cookies...
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...In February of 2012, as I was reviewing the information about the Darden’s GEMBA program, specifically the locations of the global residencies, it was hard for me to be excited about going to China. It would be my sixth time visiting the country. At the time, I was hoping for a more unique location, somewhere where I had not been, yet somewhere where, from a business perspective it would be a valid place to go. How about Japan or South Korea, I pondered. But no, it was China, a place that I explored on multiple occasions, and a place I learned to like. To make things worse, the destinations cities where the most obvious: Shanghai and Beijing. What else is out there, that I have not seen and what else I can learn from visiting it again? My fears were intensified by the assumption that the Darden residency will be sterile, that the group will be sheltered and will travel in a bubble, not being exposed to the true spirit of the country. “Well, I thought, at least we will go to Rio. In May 2012, while visiting Shanghai for the Solar Expo tradeshow I was invited to meet with the GEMBA 12 and the Darden community while the cohort was at their China residency. I was to attend an operations class with Professor Elliott Weiss, meet the students, faculty on staff. Oh, and there was free food involved; I was in! To be honest, the class session was pretty intimidating yet impressive. It was all about some Newsvendor model- a case study where a Charlottesville entrepreneur was selling crazy...
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...GOOGLE IN CHINA – A Case Analysis Situation The case talks about the severe backlash and international criticism that Google faced when it launched its search engine in China. At its launch, the company had decided to censor search results to gain the Chinese government’s approval and acceptance. This was however not in alignment with the company’s motto of “Don’t be evil”. Google so far, being very successful from its foundation in 1998, had always followed the mission of providing all relevant information and data to the users as per the user’s search criteria. It was the right of the people to have access to all the information that Google could deliver. But to tap the thriving Chinese economy and to garner a bigger share in the Chinese market, when the company launched its new website and search engine, Google came to an agreement with the government to filter the search and purge the results as per the government regulation. The management thought if they don’t agree, the Chinese government would filter from their end, making the process slow and unyielding. At least this way, people would have some fast access to the world information and also the company will churn out money. Stakeholder Analysis The stakeholders for this case would be the company itself; it’s employees, businesses that provide advertisement in Google and finally the end users. The filtration of the search results would affect directly the end users, as they would...
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...12/3/14 Poverty in China FRIDAY October seventeenth was China's first official “Poverty Alleviation Day”, a yearly assembly of "discussions and pledge drives", intended to rally deliberations to battle hardship. Obviously, because of China's quick financial advancement, the nation as of now assuages a great deal of destitution every day: a year ago the quantity of rustic poor fell by 16.5m or in excess of 45,000 individuals every day. However that still left 82.49m individuals stuck in country lack of sanitization toward the end of 2013, as indicated by official measurements. A few places in China are more awful off than they look. Their "luxurious city structures" mask devastated populaces, as per Xinhua, the state news office. Different parts of the nation are less poor than they let on. They would prefer not to be expelled from the rundown of "destitution stricken regions" due to the support and different profits they would relinquish. China's neediness is, in this way, a matter of some controversy and perplexity. In reality, China itself may not be as poor as its official media assume. Xinhua reports inaccurately that China's official destitution line is lower than the World Bank's worldwide standard of $1.25 a day. By that global standard, claims an alternate state-supported daily paper, the nation still has more than 200m destitute. In referring to that discouraging measurement, it echoes a discourse in June by Li Keqiang, China's chief, in which he said that "in...
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...Foreword to the report Currently, Chinas chocolate market, industry competition is lower, less competitive products, development potential. The worlds top 20 heavyweight chocolate companies have all entered China, supermarkets imported or joint venture can be seen as many as more than 70 brands of chocolate, imported chocolate brands continue to join the acceleration of Chinas chocolate market to international competition, the process of evolution . 2006-2007 Chinese chocolate rising trend of food imports was in 2006, China imported chocolate 15,547,134 kilograms in 2007 rose to 17,432,027 kilograms, an increase of 12.12%. Export volume is also growing year by year, in 2006 exports of chocolate, 18,659,013 kilograms in 2007, exports of chocolate 21,348,669 kilograms, compared with 2006 growth of 14.41%. Chinese chocolate competitors divided into three camps: the first camp is a Dove, Cadbury, Hershey, Ferrero Rocher and others as representatives of the foreign brands, occupied the vast majority of high-end chocolate market share; second camp is a Le Conte, Caesar as the representative of the joint venture Vuitton brand, the leading mid-range chocolate market; third camp is Shenfeng, snub-nosed monkey as the representatives of the local brands, accounting for a major share of low-end chocolate market. Imports, a joint venture brand sales strong, the poor performance of domestic brands: Regardless of the brand from a high altitude communication, advertising, or low-end...
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...Key Facts Google has become the most used search engine in the world, in 2010 it accounted for over 66% of the use of internet search engines.1 China, a developing nation2, has flourished as a global web user. Internet users grew from 23 million in 2000 to 103 million in 2005, an increase of 447% in just five years. See Exhibit 1. Introduction Tom MacLean, Google’s director of International Business, saw an opportunity to invest in the Chinese Market 3, and then subsequently moved forward with Google China. We believe that the major driver for the development of Google China was revenue and growth. When conducting business abroad, managers must respect and embrace: local governments’ restrictions, culture and beliefs. We are dealing with ethics, business opportunity, and loyalty to a firm’s code in this brief. Key Issues In an attempt of conquering a new market, Google cheated its “Do No Evil” motto4, which was ridiculed in North America. “When is different just different, and when is different wrong?”5 Company executives called into Congressional hearings and compared to Nazi collaborators, which lead – we believe – to the fall of company stock from $432.66 to $362.62 from January 2006 to February 2006. 6 Did Google’s decision to enter the Chinese Market through Google China was against Google’s stated mission7? Our Position Google complied with the Chinese’s government restrictions on censoring certain information. We agree with the...
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...Chinese Immigration in Africa To talk about Chinese immigration in Africa we have to present first the ties that link China with the continent. Modern political and economic relations began in the era of Mao Zedong, the first leader of the Chinese Communist Party, following the Chinese Civil War. His Chinese international policy paved the way to both modern Chinese-African relations and immigration trends. In 1956 China signed the first official bilateral agreement with African countries (Egypt, Algeria, Morocco, Sudan, and Guinea); it focused primarily on trade relations. By the 1960s, 19 African countries had official ties to Beijing. To help cement new diplomatic relations, Mao sent a number of Chinese to the continent in the 1960s, as well as 150,000 technicians between the 1950s and 1970s, to work in agriculture, technology, and infrastructure. Most returned to China after completing their contracts. Those were not the first wave of immigrants coming from China to Africa. For that we have to go way back in the 17th century. The first Chinese immigration took place in South Africa. They were prisoners, usually debtors, exiled from Batavia by the Dutch to their then newly founded colony at Cape Town in 1660. From that time until the late 19th century the number of Chinese people in the Cape Colony never exceeded 100. Chinese people began arriving in large numbers in South Africa in the 1870s through to the early 20th century initially in hopes of making their fortune on the...
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...the impact of Starbucks initiative to capitalize their brand of coffee on China, which is rich in history of being tea drinking country. China has a massive consumer market with a population of around 1.3 billion (Hawkins, 2010). The culture of the Chinese has a strong tradition of consuming tea, as it is still the number one beverage in China which the Chinese have enjoyed tea for millennia (Hawkins, 2010). The first topic that will be discussed is to determine and discuss barriers facing Starbucks as they try to teach people to change their consumption habits from tea and instant coffee. Recommendations will also be made to help Starbucks successfully encourage greater coffee consumption. Next an advertising campaign will be constructed that would not only encourage greater coffee consumption in general, but also increase the demand for Starbucks; while identifying key themes, i.e. copy, points, and visuals. I will then develop a marketing strategy for taking Starbucks into smaller Chinese cities and communities; while outlining the barriers and determining if they have a chance to be successful. Lastly, a demographic will be outlined with the cultural and media factors that make India more attractive for Starbucks than it was 10 years ago. Determine and discuss the barriers facing Starbucks as they try to teach people to change their consumption habits from tea and instant coffee. Though China represents great opportunities because of its big population and impending...
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