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WhyareAsianeconomiescompetitive?
Figure3.GDPpercapitainChinaonthebackgroundofdevelopingAsianeconomies
Source:GlobalCompetitivenessReport2010/2011,Geneva2010,p.128.
19
HowdoestheChineseeconomylooklikeindetails?Wherecanitsadvantages
anddisadvantagesbefound?TheGlobalCompetitivenessReportindicatesthatin
numerouscasestheChineseeconomyisperformingbetterthantheremaining
economiesbelongingtothegroupofemergingmarketsandthoseeconomieswhich
areconsideredtobeatthesecondstageofdevelopment.Allthecharacteristicsof
Chinaarestudiedagainsttheaverageforthegroupofstatesinthisphaseof
development.Thereisonlyonefeaturewhichisrepresentedatthesamelevelasthe
averageforthewholegroup,whichis:highereducationandtraining.Againone
featureisbelowthegroupaverage,whichistechnologicalreadiness.Stillonefeature,
financialmarketdevelopment,isonlyslightlyabovetheaverageforthegroup.The
remainingnineareabovetheaverage.Nevertheless,ifonecomparesthemwiththe
resultsgivenforJapan,theneedstochangeandupgradearestillbig.
TenthemostproblematicareasintheChineseeconomyembracethefollowing:
accesstofinancing,policyinstability,corruption,inefficientgovernment,inflation,
taxregulations,inadequatesupplyofinfrastructure,inadequatelyeducatedworkforce,
taxrates,poorworkethicinnationallabor.18
ThepresenteddatashowsthatChinahasapotentialandthereareareasthechanging
ofwhichaccordingtotheworldeconomyrequirementswillstimulategrowthinthe
nearestfuture.Theeconomyseemstobestillstronglyprotectiveasfarasexternal
economicrelationsareconcerned.19IttakesalongtimetostartthebusinessinChina
andtheproceduresarecomplicated.ThemarketisprotectedagainsttheFDIinflows.20
18GlobalCompetitivenessReport2010/2011,op.cit.,p.129.
19B.J.Naughton,TheChineseEconomy:TransitionandGrowth,MITPress,2007,pp.104,375.
20R.Guo,TheIntroductiontotheChineseEconomy.TheDrivingForcesBehindModernDay
China,JohnWiley&Sons(Asia),Singapore2010,p.133.
