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Peter J. Buckley and Hinrich Voss

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Peter J. Buckley and Hinrich Voss

The rapid international expansion of Chinese businesses has evoked mixed perceptions in host countries and among policymakers. This literature review critically analyses rigorous studies on the motivation, background, strategy, and impact of Chinese outward foreign direct investment and the emergence of Chinese multinational enterprises (MNEs). It is thus informative for the next wave of academic research on Chinese and emerging market MNEs in international business, political economy, economic geography and political sciences. Written by two experts in the field, this valuable study provides an important backdrop for academics who intend to understand emerging market MNEs in order to advise policymakers.
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Peter J. Buckley and Hinrich Voss

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Peter J. Buckley and Hinrich Voss

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Social Trust and Economic Development

The Case of South Korea

O. Yul Kwon

In just one generation, South Korea has transformed from a recipient of foreign aid to a member of the G20. In this informative book, South Korea is used as a case by which to explore and illustrate specific issues arising from the complex relationships between the nation’s economic development and society.
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Subhash C. Jain and Ben L. Kedia

In 30 years, India will celebrate 100 years of independence. Based on where the nation stands today, it is reasonable to assume that in 2047, it will be counted among developed countries. India’s economy is set to become the third largest in the world behind the United States and China. Indians, by and large, are enterprising people and have a fascination for technology. With dynamic leadership, India should be able to realize its dreams for the future. The country has a free road to travel. However, there are obstacles that India must cross, both external and internal. India is located in a tense neighborhood surrounded by expansionist China and unstable Pakistan. Internally, a number of potholes may derail India’s progress such as the Naxalite insurgency, the spread of populism in some states, widespread corruption, growing inequality among the masses and dire environmental decay. Even with these problems, India’s future looks bright.

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Subhash C. Jain and Ben L. Kedia

In 1950, after three years of independence, India became a constitutional democracy. The Constitution abolished untouchability, the centuries-old lingering issue. At the same time, while Hindi was identified as the national language, for the unity of the country, for 15 years English was accorded the same status to facilitate communication between non-Hindi-speaking states/people and those who spoke Hindi. Finally, following the Constitution, the first free election was held in 1952, a remarkable feat for a country without any prior experience in the matter. After five years, the second election was held in 1957, establishing the tradition of a vibrant democracy for the future.

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Subhash C. Jain and Ben L. Kedia

As India began its endeavors to develop the economy, it faced a variety of problems that created obstacles for smooth progress. Firstly, China invaded India in 1962. Then, Nehru passed away in 1964, temporarily creating a vacuum in leadership. Meanwhile, the continuing trouble with Pakistan took its toll. In addition, bad monsoon rains in successive years meant farmers were unable to feed India’s growing population. About the same time in 1965, the constitutional provision to make Hindi a national language after 15 years became a major issue, especially among non-Hindi-speaking states. The country was at a critical juncture whereby a mistake in this matter could split the country. Fortunately, Prime Minister Shastin took the bold step of extending the role of English as a national language while non-Hindi people were unwilling to accept Hindi. After Shastin died, Indira Ghandi became prime minister. In her initial years, Bangladesh was established as an independent country from Pakistan. More importantly, however, the country adapted Mexican high-yield wheat to Indian growing conditions, solving the country’s food shortage problem.

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Subhash C. Jain and Ben L. Kedia

The strategic thrust depicted in the previous chapters can only succeed if four foundational pillars are in place. These pillars or levers for action are: emphasis on technology; advancement of women’s equality; organized urbanization; and enhancement of education at all levels. India is fully aware of the importance of these factors, and the current government has been taking steps to advance its strategic thrusts. It has taken a number of bold initiatives, and it is hoped that the pattern will continue in the future.

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Subhash C. Jain and Ben L. Kedia

The chapter examines the strategic thrust that India needs to create enough jobs in view of its large population and grow at a respectable rate to provide a comfortable living for its people. One crucial aspect of this thrust is the promotion and encouragement of large companies to become globally competitive. This is feasible if all factors of production, that is, labor, land, capital and technology, are simultaneously addressed, making it easier for companies to take the risk, make investments and grow competitively. At the same time, India must encourage entrepreneurship to spread industrial culture far and wide, and open the door to innovation. India needs both large companies and small enterprises to create an industrial society for growth and prosperity.