University:
Texas Tech University
Course:
PFP 3301 | Intro To Personal Finance
Academic year:

2021
Views:

222

Pages:

4
Author:

folclord7m

International Business: The Challenges of Globalization Chapter 5 Economic Development of Nations Learning Objectives 5.1 Explain economic development and how it is measured. 5.2 Outline the various sources of political risk. 5.3 Explain how companies can manage political risk. 5.4 Describe economic transition and the experiences of China and Russia. Paytm in India • One of India’s most popular apps – 20 million businesses accept payments through Paytm – 300 million Indians use Paytm to shop online and in stores, buy movie tickets, pay bills, send money to others, top-up their phone plans and more Two Approaches to Economic Development • Countries have historically relied on a strong manufacturing base to begin their economic development. – China used its abundant supply of natural resources and inexpensive factory labor to fuel its economic development. – India focused on its white-collar service sector rather than blue-collar manufacturing. • The best growth strategy—the organic-led path of India versus the investment-led path of China—depends on a nation’s circumstances.