Roll No.: 2201115 Subject: International Business Submitted to: Sir Tayyab Ali Class: BBA -7- C (Morning) Submission Date: March 26, 2023
Faculty Of Management Sciences
National University of Modern Languages. Q1. What kind of economic system did India operate under during 1947 to 1990? What kind of system is it moving toward today? What are the impediments to completing this transformation? India had a mixed economy from 1947 to 1990, with the government exerting considerable influence over and regulation of economic activity. The government provided subsidies and directed investments in important industries like agribusiness, industry, and infrastructure. This system was characterized by a blend of state-owned and private businesses. India's economy has been shifting towards a more market-oriented one since the 1990s as a result of the government's efforts to liberalize the market, lower trade and investment obstacles, and support private business. Policies like liberalization, privatization, and globalization have all been implemented in conjunction with this shift. However, a number of barriers have prevented the transition to a market-oriented economy. One of the biggest barriers to the development of the private sector has been the absence of essential infrastructure and services like transit, electricity, and healthcare. Another issue has been bureaucratic inefficiency and graft, which have dragged down change execution and deterred foreign investment. Additionally, there have been worries about how economic liberalization will affect weaker groups of the population, like farmers and workers, who might lack the means necessary to thrive in a market-driven economy. Deliberations about the necessity of social safety nets and focused government initiatives to ensure that the fruits of economic development are more broadly distributed have resulted from this. Despite these obstacles, India has achieved substantial economic success, and the world has taken notice of its efforts. In order to speed up growth and development, the government of India, one of the world's main countries with the fastest growth rates, continues to press for additional economic reforms and building spending. Q2. Political systems can be assessed according to two dimensions: the degree to which they emphasize collectivism as opposed to individualism, and the degree to which they are democratic or totalitarian. Access the political system of Pakistan from 1948-2008. What way forward is suggested in your opinion for a better political economy that suits international business? From 1948 to 2008, Pakistan's political structure was complicated and variable, with phases of democratic and authoritarian control. There have been frequent coups and political instability as the nation alternated between democracy and military control. Pakistan has historically tended towards collectivist in the first measure of collectivism versus individualism. Strong family and community structures, which frequently take priority over individual rights and liberties, are indicative of this in the nation. Pakistan has experienced both democracy and totalitarian governance at various points in its history. Throughout its history, the nation has experienced a number of military coups, and autocratic control has frequently been a hallmark of military governments. But there have also been political times in Pakistan, including parliamentary democracy since 2008. Pakistan has historically had difficulty luring foreign investment into its economy because of its unstable political situation, subpar infrastructure, and flimsy institutions. Pakistan should concentrate on bolstering its institutions and establishing a more stable political climate in order to improve its political economy and make it more conducive to foreign business. This entails dealing with problems like graft, enhancing the rule of law, and making investments in infrastructure. Pakistan should also make efforts to improve the business climate by streamlining rules and processes, offering tax breaks for foreign investment, and expanding access to credit. The public and commercial sectors will need to work together on this, and businesses and foreign organizations will need to lend their support. Overall, addressing Pakistan's political and economic challenges will require ongoing efforts to establish a political climate that is both stable and favorable to business.
Historian Immanuel Hsu argued that “Mao’s 27 year rule brought little improvement in the people’s living standards.” To what extent did the new society bring an improvement in the conditions of everyday life for the Chinese people?