Essay on Comparison of Economic Growth in China and Usa
1. What are some of the most prominent cultural differences between the chosen country and the United States? What could be the impact of these differences on business activities with each other?
Historical developments and cultural affiliations of various communities often define the economy of a country. The culture is critical in dictating the traditions that led to the realization of a given economic state both in the past and at present. A number of author have employed the cultural lenses in demonstrating the growth registered by various countries have a bearing on their cultural affiliations (Fellner, 2008). A case in point is China, which …show more content…
2. What are the most critical drivers or engines of growth in this country?
Some sources indicate that Chinese economic stimulus program has been instrumental in steering its growth. During the financial crisis in 2008-2009, the country focused its economic development plan in increasing access to affordable housing while at the same time lifting the restrictions for mortgage (Doing Business 2013). The shift in the interest of the country cushioned it from the reverberation of the economic slump that nearly affected all countries. Unlike the United States that grappled to save its face from the crisis, the Chinese government has continued to lower the taxes on both sales and acquisition of real estate.
The Chinese government has directed a lot funds in infrastructure development. The country has sought to modernize its railroad, ports, telecommunication, and roads in a bid to prepare the country not only for the investors, but also for better service delivery. Arguably, these developments have been instrumental in influencing the economic base in the country. The recent developments in the country believed to