Compare and Contrast the Recent Economic Development of the Economies Essay

Compare and Contrast the Recent Economic Development of the Economies of China and India, Which Country Has the Best Prospects - Essay Example The effects are already showing, like the combination of the new market opportunities growing from the enhanced purchasing power and also greater competitiveness of these huge economies as the producers of various selected goods. In order to come up with effective policies, it is necessary to check the expected impact in order to come up with the policies and strategies that foresee the different changes, so as to efficiently capitalize on the new opportunities (Barro & Lee 2001, p.17). A lot has become documented about India and China of late. The two nations have experienced increased growth that has led to notable achievements, mainly in areas dealing with reduction of poverty. The two countries also share the same problems related to rapid growth like the increasing rural urban income gap and also environmental degradation. Increasing incomes generate impetus for the structural change in the agricultural field and food areas as the demand and the consumption patterns tend to shif t. In addition, these impacts will move to commerce, trade and investment. Both the two nations, China and India have witnessed impressive growth in the field of agriculture, which is at the same time followed by the rapid growth in the industrial sector and a decline in the poverty levels. The essay is going to discuss the policy separately and also the institutional changes that lead to these changes. In addition, to compare and contrast both of the two countries in respect of the future growth, the impending impact that growth will have on the nations domestic economies and to some extent the impact of their growth to other Asia- Pacific nations (Bosworth & Collins 2003, p.89). It is evident that the growing incomes in these nations will still continue to develop pressure, for the nation’s structural reform of their own agricultural development and food areas to sustain the ever changing demand size and evolving consumers’ preferences and tastes. The changing income s also provide trade opportunities with nations in the region and also other global countries (Kuijis & Wang 2006, p. 12). According to a United Nations study, Both China and India have a joint population of 2.3 billion people, nearly 37% of the global population. A $100 increase in the levels of per capita income of these two nations would result in around $230billion in extra demand for goods. The ever-increasing growth of these two over-populated countries will affect the balance and direction of trade significantly, the trading possibilities and a conducive level playing field for other small countries in the region. This calls for a timely check of the growth pattern in these developing countries, in order to come up with policies that will optimize gains and minimize the losses and marginalization (Woo 2004, p.8). Both India and China have enormous agricultural sectors. The experience of the Chinese shows the vital role agricultural development has played in the initial period s of reform. In India, for example, a country that is not as industrialized as China, agriculture plays an important role in its development. While GDP share in agriculture has been decreasing, this sector still forms an indispensable part of the job sector. Performance in the agricultural sector is hence of immense importance for future policies and strategies to achieve the Development Goals, mostly the crucial first

Department of Maritime and Logistics Management Essay

Department of Maritime and Logistics Management - Essay Example The industry has become saturated due to several negative external environmental impacts. Therefore, it is important for the new comers to understand the appropriate demand for the air service before developing a new business. Discussion This part of the essay will determine the key factors that need to understand before deciding the demand for a new airline business. Moreover, the study will identify the implications for the operation of an airline regarding the mixed passenger and freight model. Answer 1 It is important for a newly developed organization to do a market survey to understand several business factors. Knowledge about market competition will help the organization to develop an effective business plan. Moreover, the organization needs to review effective internal resources and capability of the organization. Defining Idea, gathering information about market competition, effective resources, customer demand and feasibility assessment will help the organization to move fo rward. Global airline industry has become highly saturated due to intense competition and several political and economical challenges. Recent financial crisis and global economic recession affected the global economic environment. Low purchasing power, limited disposable income of people and negative economic growth rate are the major consequences of this economic slowdown. People are trying to save more rather than consuming products and services due to this economic distress. Therefore, it is important for the organization to utilize the resources in such a way that can reduce the business operation cost. Effective operation cost reduction can help the organization to implement competitive pricing strategy. Effective competitive pricing strategy will help the organization to achieve potential competitive advantages. Airline industry is considered as the service industry. People always expect better service against their air ticket fare. Now-a-day, the global airlines are trying to implement CRM strategies in order to satisfy the needs of customer. Slowly and gradually, effective customer relationship management will help the organization to develop a potential target customer base (Winsveen, 2012, p.13). Therefore, the major objective of the organization would be providing effective in-flight customer service against low competitive ticket price. Employees are considered as the strongest asset in a service providing organization. Skilled and trained pilots, flight attainders and air hostesses are considered as the major competitive strength of an airline organization. Effective organizational and work place culture need to be adopted by the organization to develop an effective workforce. The organization should focus on employment benefits of the employees in order to increase the motivation level of the employees (Bowhill, 2008, p.333). Highly motivated employees will try to perform more effectively. Low turn around time and high frequency of flights increa se the core competency of the airlines. The organization needs to provide effective training and development programme to increase the skills of the employees. Effective turnaround time management will enhance effective customer relationship management. Therefore, the organization needs to treat their employees and vendors as their own family members. Then only they can achieve effective competiti