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Chinese And UAE Economic Indicators And Growth Persuasive Essay Help

Economic information, particularly on a macroeconomic scale, is required for any nation to make investment decisions. Increased investments in a nation result in a rise in economic growth as a result of an increase in the inflow of foreign currency and the rate of employment creation. Consequently, it is essential to assess the health of an economy using global economic indices such as the Consumer Price Index (CPI), unemployment rates, and the Gross Domestic Product (GDP), among others. In the past decade, China's economy enjoyed a boom by expanding at such a rapid rate that it threatened to surpass that of the United States of America. China's GDP in 2013 was between 9,579 and 10,360 billion dollars. Over the two years, its GDP per capita was 7,040 and 7,574, respectively.

The difference in CPI was 2.5 and 1.5 points (The UN Data China par.4). The unemployment rate stayed stable at 4.1% over the two years. Comparatively, the GDP per capita of the UAE was $44,044 in 2013. Its GDP totaled 398 billion USD in 2013, the unemployment rate was 3.8%, and the CPI annual variation in 2013 was 1.1%, which rose to 2.3% in 2014. (The UN Data The United Arab Emirates par.3). In 2015, there was a minor increase and decrease in the CPI. Consequently, China's and the UAE's economies have different global economic indicators. Consequently, no economy can be regarded as having a stable trend in the fluctuation of key economic indices. The CPI, GDP, and unemployment numbers fluctuate constantly.

Economic Ethical Indicators for China and the UAE

The rapid growth of China's economy has led to a globalization of economic contacts and agreements between China and other nations and/or regional trade blocs, such as the European Union (EU). China is undergoing enormous changes, including social, economic, and political developments that are considered crucial for increasing China's integration into the global trading market. However, it is accused of participating in unethical commercial activities on multiple occasions.

For instance, several nations are now cautious about Chinese-made counterfeit goods (Coase and Wang 97). In order to meet high labor demands, the company is also accused of engaging in unethical methods such as child labor and staff exploitation (Coase and Wang 113). In contrast, the UAE does not face such obstacles. According to UAE Interact, the UAE ranks well on the list of nations with the most ethical foreign investment practices (par.2). According to Transparency International, the UAE's overseas investment procedures surpassed those of China, Hong Kong, and even France (The UAE Interact par.2).

Guanxi is one of the most essential business-related cultural standards in Chinese society. There are, however, additional ethical signs for the Chinese in all economic relationships. Among them are leasing, Xinyong, and Miazi. These phrases denote, respectively, reciprocity, confidence, and expression (Wilson and Brennan 653). Guanxi implies custom-made linkages. Guanxi comprises the most researched cultural norm for conducting business with Chinese people, among the four notions, among western-based corporations seeking success in the Chinese business market setting.

Guanxi refers to custom-tailored alliances or ties via which a person might exert influence over another in pursuit of favor or when another individual seeks favor and/or service (Rivers 478). The ethical business practices of the United Arab Emirates are based on the notions of Islamic business systems, which are guided by the moral norms outlined in the Quran. In the UAE, commercial activities and conducts of business parties are only permissible if they adhere to the teachings of the Holy Quran, which form the basis of Sharia law (El-Galfy and Khiyar 949). Sharia, in contrast to conventional systems, regulates all business transactions undertaken by Muslims to ensure a free and fair market.

For example, Islamic financial systems are governed by laws originating from Sharia law, such as the prohibition of riba and Qard (El-Galfy and Khiyar 949). The parties involved in the conduct of permissible types of sale collaborate to avoid inappropriate behaviors such as riba and gharar (El-Galfy and Khiyar 949). In the UAE, unlike in China, a few ethical inspections are necessary to assure a favourable welcome for a company seeking to invest in the UAE markets. The company culture is among the problems. The teachings of sharia law govern commercial and business transactions. In order to operate in the UAE market, businesses must modify their business practices, such as charging interest (riba), just as they do for conventional financial systems that are permitted in China.

Economic Political Indicators for China and the UAE

The political business climate is essential for a nation's corporate performance to be successful. Political stability inside a nation is a significant predictor of the political environment. The United Arab Emirates is located in the Middle East. Therefore, political instability within regions affects business activities in the nation, particularly decisions by international corporations about new investments.

People can determine whether to invest in China or the UAE based on the political instability risks of each country. These choices necessitate the availability of frameworks, data, and insights that are essential for building effective entrance and expansion strategies. This method is essential for markets that are characterized by political turmoil and shifting societal changes.

Even while countries bordering the UAE have seen instances of political instability, this is only due to the fear of spillover consequences. Such anxieties are uncommon in China. Possibly because of this circumstance, China has become a key manufacturing outsourcing hub for many affluent nations. Business regulations are improving in the UAE, which is a crucial political indication of economic success. Similar rules exist in China, which aid in protecting the nation's productive capacity and intellectual property.

Economic Physical Indicators for China and the UAE

The United Arab Emirates has an abundance of energy resources to increase production. China, on the other hand, depends on net imports of oil from Gulf states to power its industrial process. The UAE's physical location is also crucial for ensuring access to its petroleum markets. Other physical factors for the economies of the UAE and China include the availability of clean water, adequate sanitation, and energy.

In 2012, 92% of the Chinese population had access to improved drinking water sources, while 65% had access to better sanitation (par.4). In the same year, the country's energy supply per capita was 79.0 Gigajoules (The UN Data China par.4). Comparatively, in the same year, 100% of the population of the United Arab Emirates had access to better drinking water sources, while 98% had access to improved sanitation. In the same year, per capita energy consumption in the UAE was 311 gigajoules. In terms of physical metrics, the UAE economy is therefore in a stronger position than the Chinese economy.

Socioeconomic Indicators for China and the United Arab Emirates

Both the UAE and China are attractive due to the availability of inexpensive young labor. The availability of young workers is essential for guaranteeing a sustainable labor supply. In 2014, 15.7% of the UAE's population consisted of individuals aged 0 to 14, while 1% of both males and females were over 60 years old. Thus, over 80% of its population falls between the ages of 15 and 59.

In 2014, 18.1% of China's population consisted of people aged 0 to 14, while 15.2% of those over 60 were male and 13.3% were female (The UN Data China par.4). Therefore, more than sixty percent of its population can engage in paid labor. In contrast to China, the UAE has a greater number of young people who can engage in paid work based on social factors.

The UAE is undergoing regional integration and a growing number of women's work force involvement (Rogman par.4-7). Due to its high sex ratio, the UAE may continue to have a lower proportion of women in the work force than China (males: females). In 2014, the United Arab Emirates had a sex ratio of 230.9 while China had a sex ratio of 107.6. The demographic characteristics of the UAE, the move towards value consumption, the reorientation towards the east, and the emergence of multinational corporations in the UAE are also significant social indicators for the economic growth of the UAE.

Comparative Analysis of the UAE and Chinese Economies' Size and Growth in Relation to Capitalism and Democracy

Capitalism and democracy play crucial roles in determining the economic development of many countries. McNally observes that China's political economy has embraced global capitalism (116). The demise of communism and the emergence of sound international politics have compelled China to assume a key role in the global economic debate. These interactions gave rise to its direct ties with industrialized economies that were already adopting capitalistic growth practices. This circumstance led to the development of a capitalist mentality in China, which has fostered the country's rapid economic expansion. In this regard, the size and expansion of China's economy are related to capitalism.

Although the current size and growth of the Chinese economy can be attributed to capitalism, the UAE is an exception. Yassin examines Islamic economic structures (2). He uses qualitative secondary data from the literature on Islamic, capitalist, and neoliberal economic systems. A capitalist economic system is governed by the forces of demand and supply, and its participants are preoccupied primarily with profit maximization (Yassin 2). Therefore, the participants conduct business in a manner that they believe appropriate without contemplating the effects of their actions on external actors or stakeholders.

Yassin argues that Islamic business ethics support only those practices whose origins can be traced back to Allah (God) via His revelations to His chosen prophets and the teachings of the Quran (2). In this view, systems such as capitalism and neoliberalism, which were established to address many of the problems, are unethical since they do not account for the size and growth of the UAE economy. Responsibility for one's own acts, trust, the protection of people's property, and the improvement of self-discipline and natural justice are central to the UAE's Islamic economic growth policies (Yassin 5). In fact, these are the fundamental foundations of any democratic system in which the ability to pursue one's rights is limited to the extent that it does not negatively impact the rights of others.

China's economic progress has been significantly aided by its embrace of capitalism and the free market mentality. If the nation wished to attain its current level of economic dominance, it would have to reconsider developing socialist and communist-based policies. Indeed, Coase and Wang argue that the nation's current economic progress would not have occurred in its infancy if it had chosen to disdain capitalism (67). Consequently, the only alternative was to adapt to capitalism while preserving its historical conditions and policies.

In the UAE, capitalism does not function as an independent structure. Katzman identifies this instance as sheik capitalism (43). Although the economy of the UAE gives capital independence, there is a particular sort of control. All governmental policies on the national agenda do not necessarily define the UAE as a nation. Instead, national policies govern the course of the nation's industries. Consequently, the easiness of resource transfer is contingent upon the directives of leaders. Through innovative ideas, such leaders can alter the course of any given firm.

The Internet's Influence on the Chinese and UAE Economies

The internet is a significant technological innovation that has enhanced the global reach of any nation's products and services. In fact, the internet improves the process of communicating a country's capabilities, assets, and resources to the global free-market economy. In exchange, it enhances a country's image among worldwide foreign investors. Internet usage has the impact of promoting foreign direct investments within a country. Refusing to adopt internet innovations means isolating and depriving a country's populace of the benefits that accompany internet technology. Even though China recognizes the benefits of internet technology in terms of its contribution to economic growth, the country does not support the technology's full development.

In China, the government determines the function of the Internet. This claim is supported by Sun's observation that in China, "the IT industry has become a cash cow for the party-state, which has become a property-rich owner" (117). The government exercises absolute control over the media. By controlling vertical markets, it inhibits the Internet from fulfilling its role in social and economic progress. These limitations have the consequence of generating uncertainty over the Internet's contribution to economic growth. Nonetheless, firms from the global economy are collaborating with local organizations to enter the Chinese internet industry. However, they must adhere to the government's norms and regulations. For instance, Google China is seeking to increase its portion of the Chinese internet market.

In the UAE, internet technology has experienced tremendous expansion. Indeed, UAE internet penetration is more than 15 times that of other Arab countries (Europa Publications Limited 23). This disparity may be explained by the UAE's looser limitations on internet technologies compared to China. In terms of influencing political principles, the internet plays different roles in China and the UAE. However, as a result of significant shifts in the global economy, financial value, and national power, the two countries and the rest of the world rely on the Internet as one of the most preferred mediums for promoting economic growth.

In the context of national policies, how China and the UAE interpret capitalism

Capitalism entails social arrangements that support the private ownership of production factors. It also comprises the creation of services and things with the primary goal of making a profit by selling them on open markets governed by demand and supply forces. However, the Chinese view of capitalism is built on opportunistic principles (McNally 38).

Through the views, China successfully transitioned from an agriculture-based economy to industrial investments. This change was made possible by opportunistic actions within the global capitalist system. However, this circumstance never led to the privatization of industries in China, as it does in countries with capitalist social systems. The state owns the industries, and the government holds substantial holdings in them (McNally 71). Since the government owns several of the UAE's businesses, such as oil, finance, and banking, the UAE shares a similar view of capitalism. Policy direction in these industries is also determined by the government.

The Relationship between Economic Growth and Personal Freedom in the United Arab Emirates and China

Individual and business liberty have

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