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Economic Liberalization: India, Thailand, China and Japan

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  1. Industry analysis
    1. The intensity of competitive rivalry
    2. The bargaining power of the suppliers
    3. The bargaining power of the customers
    4. The threat of the entry of new competitors
    5. The threat of substitute products or services
  2. SWOT analysis
    1. The internal analysis
    2. The external analysis
    3. The financial analysis
    4. The strategies
  3. Conclusion: Kuchen's opportunities and objectives

The twenty-first century has been marked by economic liberalization. In this document, the reactions of four nations namely: India, Thailand, China and Japan, towards this liberalization and globaliztion will be discussed.

India is one country that has opened up to the world market remarkably. The visit of the US President, Barack Obama, to India recognizes and emphasises the fact that India is slowly becoming a powerful nation. India has a number of strengths that attract entrepreneurs from around the world. The first factor that works in favor of India, and that attracts MNCs is the sheer size of its market, which is huge. However, India has been classified as one of the 'low income countries' by the World Bank. Hence, it becomes necessary for countries offshoring business to India to protect themselves and be informed, before doing business with India.

Thailand is an Asian country, whose territory covers 514,000 square kilometers. In 2007, this country had approximately 70 million inhabitants. The country was known as Siam earlier. It changed its name to 'Thailand' in 1949. 'Thailand' means 'free country'. This nation is surrounded by Burma in the west, Malaysia in the South, Cambodia in the east, and Laos in the north-east. Its capital is Bangkok. The official language is Siamese or Thai. Thailand is a member of the Asia Pacific Economic Cooperation (APEC). Farming, processing and export of agricultural products, including rice, form the backbone of its economy.

Today, the Chinese population dominates all economic sectors in the world, closely followed by the Vietnamese population. China had become the 4th largest economy in 2007, and was expected to claim the third place from Germany in 2008. However, the Chinese government still faces the challenge of social inequality. There are also differences in the income earned in cities and in the countryside. This situation has been accentuated by the recent inflationary pressure. The accession of China into the World Trade Organization (WTO) in 2001 marks its integration into the global economy. China has now become an open economy, and its exports account for 37% of the GDP, which is higher than the GDP of the Triad countries.

According to figures from the World Bank in 2007, Japan was the second largest economy, with 8.05% of world's GDP ($ 4.376 billion). In terms of GDP ranking, it is placed second with the US on top. But Japan is ahead of Germany and China, which are placed third and fourth, respectively. Today, the main growth sectors in Japan are: information technology and communications, biotechnology, environmental science, medicine, retail and automotive equipments.

India is still a heavy weight in the world economy. With over a billion people, the country is the second most populous country in the world. But for now it weighs less than 2% of global GDP and is ranked 13th worldwide in terms of wealth created in the world. But the average annual growth rate of India was around 6% 25 years ago is on average 8% in 2003, a figure comparable to that of its neighbor, China.

The rising power of India affirmed its gradual opening to the world. Of course, India is one of the most closed economies in Asia and less than 1% of world trade. However, its main source of foreign trade of the entire economy is manufacturing. He was the 29th largest exporterof goods according to the World Bank.

Tags: Economic Liberalization; Asian countries: China; India; Japan; Thailand; reactions of these countries to liberalization

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