BA10-Mod5Lect2 Notes - Module 5 Lecture 2 4/20 Global...

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Module 5 Lecture 2 4/20 Global Business & Entrepreneurship Market and Non-Market Economies US asks special consideration in disputes in China because it is a non-market economy o Prices not reflective of market Could you do without ½ your shirts? o If stopped buying for 6 months, could you still wear clothes? o US over-consumption suits everyone Ex. heroin dealer= US, junkie= everyone else o If saving, cost frost throughout Europe and Asia Private ownership encouraged here o In Vietnam, friend is a rice farmer, cannot move out because does not own land “Planned Economies” Communist countries operate on 5-year plans Prices set by bureaucrats o Vietnam, government publish English paper telling how happy the people are o Government has decreed price of coal goes up by 30% One of the few energy production Coal company has no money to buy equipment o Next day 43% increase does not apply to fertilizer company o Europe dose of socialism
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  • Spring '08
  • XuanmingSu
  • Communism, Socialism, Central Provident Fund, Planned Economies Family, Sweden government benefits

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