Impact of China's Global Force on Business Practice
In current global business environment, China's emergence as a force in the global economy has a significant impact on business practices. It greatly impacts on the trade balance and capital flows of several developed economies. There is a rise in MNCs from China with their growing role in the world economy. This has changed management practices that are followed by companies throughout the world (Bidgoli, 2010). It leads to policy related observations, short-term issues surrounding bilateral trade between the China and US and long-term prospects for China's integration into the global political economy. Additionally, it also influences the policy process indirectly via different firms' trade associations and their intermediaries. Further, it enables different foreign business executives, corporate leaders and business associations to gain informal access to many policy processes (Rawski, 2007).
China's business structure is based on cost leadership strategies and it has also influenced companies around the world to focus on reducing labor expenses by using human resources at low cost. Along with this, China's global force also ...
The expert analyzes the impact of China's global force on business practices. The impact of culture, diversity and HR on business practices are determined.