How are China and India contributing to the world economy? Relate to current examples in the retail industry involving the Walmart (US), Falabella (Chile) or Carrefour (France).
West (n.d.) relates that China's growth was the result of its entry into the World Trade Organization in 2001 capitalizing on its vast labor supply. The country's growth in 2000 and 2010 increased by 125% equivalent to 1.5 trillion USD.
China's products are scattered around the four corners of the globe.
Truly, this is a substantial contribution to the world economy
Walmart and China
China's entry to the world created economic displacement in the United States. Scott (2007) noted that total U.S. trade deficit with China reached $235 billion in 2006. Between 2001 and 2006, this growing deficit eliminated 1.8 million U.S. jobs. The world's biggest retailer, U.S.-based WalMart was responsible for $27 billion in U.S. imports from China in 2006 and 11% of the growth of the total U.S. trade deficit with China between 2001 and 2006. Wal-Mart's trade deficit with China alone eliminated nearly 200,000 U.S. jobs in this period (Scott, 2007).
Falabella and China
Falabella's products such as stylish crockery, kitchenware, and textiles, were mostly imported from China ...
The discussion shows the actual contribution of China and India to the global economy.