Asian Business System Social Sciences Essay Research (Essay Sample)

Asian Business System
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Asian Business System
The Chinese economy is among the oldest economies in the world. It was as a result of organized societies that have existed for more than 10,000 years. While the countries economy has ties to complex and dynamic systems based on cultural, political and social ideologies, in the 1980s a fast-paced revolution unlike any other in the long history of the country swept across the nation. Over this period, the Chinese economic structure witnessed major reforms and as a result, the nation was able to increase its GDP by sevenfold. By 2008, the Chinese market counted for six percent of the total world market share making it the third-largest economies in the world. Further, the economic reforms instigated in the 1980s were unprecedented in the Asian market CITATION Hal03 \l 1033 (Hall & Soskice, 2003).
Understand and people's cultural and how it related to business practices can make or break your business. For example, in the '20s, Coca-Cola was trying to break into the Chinese market and a communication misunderstanding ended-up delaying the project when a Chinese character that sounded like coke ended up being a vulgar word in chinse language CITATION Sto13 \l 1033 (Storz, Amable, Casper, & Lechevalier, 2013). Unlike the west where the cultures are must more like from one nation to another, the eastern business market is a different case. In the east, the cultural vary was moving from one region to another. As such, cultural institution affects how business is conducted in these regions