MAN 6601 Midterm Brendan O’Neal

MAN 6601 Midterm Brendan O’Neal - Brendan...

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Brendan O’Neal MAN 6601 Midterm Project November 7, 2010 Midterm Project The world economy has seen a shift in the last 30 years in large part to the introduction of a new major player in the economy. China has grown to influence the world market because the labor force is willing to work for less pay and in worse conditions than most other countries. Because the Chinese have the ability and capacity to manufacture goods, they have been able to become a major export source for the rest of the world. China is also able to charge an export tax/tariff to compensate for their limited resources in terms of finances (Chovanek, 2010). This is a change from the U.S. dominating the world economy, world trade, and technology. Other changes also include the Communist nations and some fallen Communist nations being introduced into the world’s trade. The United States’ exports have dropped, though it remains the world’s dominant economic superpower; the drop in export is best explained by the growing economies in developing countries, such as China and others such as India, South Korea. These nations have newly dedicated themselves to a free market (Chapter 1, 2010). Great Britain is experiencing these shifts and having to compete with the developing nations for
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MAN 6601 Midterm Brendan O’Neal - Brendan...

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