international convergence (1 Viewer)

[Monstar]

I'm doing a case study on china and i have to write an essay under headings.

One of the headings is "internation convergence" , anyone care to inform what this means and how does this apply to china's economic situation?

 

[mitsui]

international convergence juz simply means how the economies of different countries have become quite similiar (ie. capitalism.. selling of state ownships... reduce barrier to trade... encourage FDI..blah blah)

juz to briefly touch on that, this applies to china as before, china is a communist china but now it is open to FDI and reduced its trade barriers, even though the government still owns the infrastructures.. u can say it is a "dualism" economy (although some bOSers disagreed on that.. so not sure there).. etc.

<@_@// brain not workin .. a bit brief. good luck !>

 

[felixcthecat]

umm.. i sorta asked the same question a while ago..


here's the basic reply!

"Haven't looked at my stuff for a bit, but here's what i'm guess they mean:

International convergence = due to globalisation, economies of diff countries tend to influence each other more. So -- comparing China's well being to another country: say, oil prices are on the rise, globally. I would have to read articles or not to verify this statement, but for the purpose of this exercise, you could say... that because of the rise in oil prices, the cost of production in China has increased >> increased cost of goods in China. It's a bit of a dodged example, but that's the general idea.
To compare australia and china, you could say...
China imports raw materials from Australia... so if China's economy is picking up, it has positive effects on Australia's, as it means more exports for us, so more demand of our goods."

hope that helps =D..

 

[Monstar]

^^ i dont think thats quite right.. i actually found a definition in my text boook and its more similar to mitsui's response.

thanks anyway

 

[felixcthecat]

bla oops ohwell! ^0^ , atleast i understanded it ^^''

 

[Monstar]

^^ hahah no worries.


Do you think comparing China to other transistion economies is the right idea? i

 

[Sparcod]

I think that you are all getting it wrong.
Check the other thread with the same title.

International Convergence Of Economies:
The trend of economies becoming similar. Since the collapse of planned economies in Europe, they have moved to become capatilist, free-enterprise economies.

China is like that. They are moving towards capitalism, just like the rest of this world by attracting foreign companies as China is a good source of cheaper labour and privatising govt-run firms. By doing so, China can industrialise and keep up with technological advances.
Restrictions on travel in China have been lifted to boost tourism earnings.

I don't know what you wanted but this is what I 'think' you wanted.

 

[mitsui]

I think that you are all getting it wrong.
Check the other thread with the same title.

International Convergence Of Economies:
The trend of economies becoming similar. Since the collapse of planned economies in Europe, they have moved to become capatilist, free-enterprise economies.

China is like that. They are moving towards capitalism, just like the rest of this world by attracting foreign companies as China is a good source of cheaper labour and privatising govt-run firms. By doing so, China can industrialise and keep up with technological advances.
Restrictions on travel in China have been lifted to boost tourism earnings.

I don't know what you wanted but this is what I 'think' you wanted.

isnt tht wat i wrote? .....

 

[Monstar]

I think that you are all getting it wrong.
Check the other thread with the same title.

International Convergence Of Economies:
The trend of economies becoming similar. Since the collapse of planned economies in Europe, they have moved to become capatilist, free-enterprise economies.

China is like that. They are moving towards capitalism, just like the rest of this world by attracting foreign companies as China is a good source of cheaper labour and privatising govt-run firms. By doing so, China can industrialise and keep up with technological advances.
Restrictions on travel in China have been lifted to boost tourism earnings.

I don't know what you wanted but this is what I 'think' you wanted.

lol alright. So i just compare to something like Poland? (had formally a heavy socialist economy).

So.. Just comparing with transistion economies ??? (socialist economies who have transformed to a market economy)

 

[gwami]

I'm doing a case study on china and i have to write an essay under headings.

One of the headings is "internation convergence" , anyone care to inform what this means and how does this apply to china's economic situation?

Well dude, international convergence i reckon is just how China has integrated its economy into the global economy, basically the extent to which it has embraced globalisation. if ya want it, i did a 2.5 thousand word report on Ireland that i havent posted up yet, i could fang it to ya.

 

[jon0_o]

yeah mitsui's right .. its about 'convergence' which means coming together or becoming more alike, so all the countries in the world becoming more alike i.e. capitalist