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Development and Globalisation - China
Transcript of Development and Globalisation - China
NICs since 1960
Centrally planned - market orientated system.
Japanese TNCs were among the first to seek new areas for their operations.
So they looked to their less developed neighbours
The ASIAN TIGERS
6 reasons why?
The economies of these NICs grew and large indigenous firms sprung up (helped by the economy and governmental aid).
Operating costs increased in the 1st phase NICs
A second generation of countries was sought after by developed nations and 1st phase NICs
Improvements in infrastructure and low wages
In recent years China and India have emerged as targets for FDI by TNCs.
What does FDI mean?
China's growth is the fastest experienced by any country.
So how did China do it?
Agricultural output doubled. Profits were encouraged.
Special Economic Zones (SEZs) were set up.
Where would you locate them?
Preferable tax rates
14 open cities
Incentives for investment
4 priority areas for development
Large amount of FDI led to economic growth
$63 billion per year inward investment
Problems faced by China?
Why is China growing so fast?
China becoming number one
China's growth and integration into the world economy
Essential: China a third generation NIC