and you may need to create a new Wiley Online Library account. 0000003388 00000 n It is also seen as a legacy of the dualistic economy, serving as a highly effective measure of limiting urban migration.[5]. Despite Chinese censorship laws, activists remain motivated to challenge gender discrimination, by relying on online social protests[24]. To achieve this, the country launched ‘mass entrepreneurship and innovation’ programme in 2015. The consumer purchasing power is constantly increasing and at the same time the labor costs are some of the lowest in the world. There are a number of laws that regulate business and employment practices in China. Although the practice is illegal, sons provide a greater cultural and economic advantage for Chinese families: they carry the family lineage, they support parents in old-age, and they generally dominate the family power structure[17]. Nowhere is this phenomenon more apparent than in China. China contains one-fifth of the world's population and is the world's fastest-growing economy. Population growth and age … [11] The government's recent response to the unemployment problem has been viewed favorably because of a shift in perspective. If any product or service or any of its peripherals are deemed to be against the ideals of the Communist Party, then it will be strictly banned. As mentioned above, China is the 2nd largest economy in the world by nominal GDP. Huang, Cary (19 October 2010). As mentioned above, average wage level has gone up over the … Trade politics is another major factor that affects the Chinese economy. Environmental factors need to be kept in mind by all countries operating within the Chinese republic and globally as well. Some academics hold that China's fragile social balance, combined with a bubble economy makes China a very unstable country, while others argue China's societal trends have created a balance to sustain itself. China is the most populous country in the world with a total population of approximately 1.4 billion (World Meters, 2020). Export-friendly policies like regional and international free trade agreements encourage FDI in China, especially for enterprises with substantial market share outside the local Chinese market. There are some big tech giants in China e.g. China has little experience for drafting e-commerce l… 23 No. View the article PDF and any associated supplements and figures for a period of 48 hours. This is partly tied in with the old school social As a result, there is a staunch growth in interest rates which is not helpful towards the growth of SMEs. China’s rapid economic development has impacted on its natural environment severely. 3. The urban per capita net income stood at 17,175 yuan ($2,525) in 2009, in contrast to 5,153 yuan in the countryside, with the urban-to-rural income ratio being 3.33:1, according to figures from the National Bureau of Statistics. Foreign direct investment (FDI) signifies capital invested in a country that provides manufacturing and service capabilities for both native consumers and world markets. If you have previously obtained access with your personal account, please log in. We hope the article on the PESTEL analysis of China has been useful. This in turn shoots up the production cost and reduced profit margins. Baidu, Alibaba, and Tencent to name but a few. This has historically made China a less favorable investment destination, where investors looking to set up manufacturing facilities there have encountered high start-up costs, heavy legal exposure, and other compliance entanglements. primary drivers of this growth. This market is expected to One of the primary political factors that interfere with the Chinese market is its government regulations. Over the past few years, the government focused on the development of e-commerce. Here we will perform pestle analysis of China. near future. It also aims to help the country to move from a labour-intensive economy to an innovation-driven one. [8] On the other hand, as of late 2011, the heavily industrialized coastal areas and cities are in fact experiencing an employment shortage due to the runaway growth of the economy. The Chinese literacy rate is over 90% and a huge portion of the population has access to the internet. Furthermore, despite it being illegal, employers refuse to recruit women to avoid child bearing costs, or even fire women over their "inefficiency" during pregnancies[15]. These include the fact that the country's social insurance system is considered within the primitive stage of development, exposing employees to further problems in cases when the government allows the companies they work for to be liquidated.[11]. 0000003638 00000 n This programme aims to spread entrepreneurship throughout China. The adverse effects of having a widening inequity between the rich and the poor include social and political instability, discrimination in access to areas such as public health, education, pensions and unequal opportunities for the Chinese people. As a result, foreign brands profit from hiring Chinese workers as much as selling to Chinese consumers. Higher Education System is challenged by the transition of economy system in China (from controlled economy to market economy), the methods of production ( from diversified to intensive), the conflicts between ancient Chinese cultures, modern Chinese cultures and western cultures.

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