Take on the role of a consultant. Read their recommendations thoroughly then provide some rationale as to why you think their recommendatio
Directions
1. Response posts
0. Select two peers to respond to.
1. Take on the role of a consultant. Read their recommendations thoroughly then provide some rationale as to why you think their recommendations are persuasive (or not).
Directions
1. Response posts
0. Select two peers to respond to.
1. Take on the role of a consultant. Read their recommendations thoroughly then provide some rationale as to why you think their recommendations are persuasive (or not).
Shiron Musick
Economies change as time progresses, which means they will fluctuate and the ones who are the powerhouse will shift as well. On the aspect of the shift moving from western to Asia an important component is in how they countries respond and handle aspects such as future trends, diplomatic influences and economic relationships (Bley & Lemahieu, 2018). Constantly evaluating and looking for ways for growth is beneficial because it allows the things to not become stagnate which ultimately can lead to down falls. This means that the important components come form looking forward and is not related based on the size of the country. In addition, to this making connections with others within the same region, allows for more influence and growth in an economic power shift.
When looking at what influences a country there are many things that go into play such as the culture. This will impact each component of a country because they are the ones that makes the rules, regulations and what is considered a norm. The culture of countries and norms impact what outputs the world expects them to produce and the US has a connection with research within the education systems (Kohli, 2021). This means there is a connection with being on the for front of discovering new things, which can certainly impact the economy. In addition, the education system of a country is how the younger generation are shaped and molded to keep them moving forward. Both China and India have large populations which means there are a percentage of them who will be in the school systems. These two countries often compete on providing opportunities that may not have previously been there (Dhawan, 2013). An important similarity between all three countries is trying to improve in what they have to offer, yet they are at different levels, such as elementary versus university.
The next important aspect that influences the economy is the youth of the world, or more specific of a country. There is the phrase that the youth is our future which holds a lot of truth because they will be here longer to help the even younger generation to take their place one day. Another way that the youth shape the economies is related to there being more of them which means there are the primary influence on the economy. The countries that will hold more power in the shifts will be those who are able to predict and respond accordingly. Policies are the foundations of conducting business, and all areas are interested in their exports, however of the last few years a new demand has surfaced which is connected to supply distribution (Hormats, 2022). Being aware of this and responding accordingly will allow countries to gain more stability which will also impact their economies. The youth of a country is often more willing to try things that vary from traditions which means they will be the ones who often think outside of the box which allows for growth.
When it comes to improving the unemployment rate, the growth of employment opportunities must be higher than the labor demands. To determine what will best help the location will begin with research to determine what jobs are needed to help the community. In countries with large populations, the ability to create new jobs there may not be the space, yet it is important to find ways to adjust for the environment. Once the determination of what is needed, the next step will be finding ways to attract and provided the needed training. Getting these type of individuals are vital because otherwise there is not growth which will not improve the unemployment rates.
Reference
Bley, B., & Lemahieu, H. (2018). The Global Power Balance Shifts Toward Asia. from https://www.brinknews.com/the-global-power-balance-shifts-toward-asia/Links to an external site.
Dhawan, A. (2013). Quality of education: What sets apart India and China-World News , Firstpost. from https://www.firstpost.com/world/quality-of-education-what-sets-apart-india-and-china-1090019.htmlLinks to an external site.
Hormats, R. (2022). Once again, world events are changing our supply and procurement priorities | The Hill. from https://thehill.com/opinion/finance/3460468-once-again-world-events-are-changing-our-supply-and-procurement-priorities/Links to an external site.
Kohli, P. (2021). Top 5 Countries with Best Education System in the World. from https://studyabroad.shiksha.com/country-with-best-higher-education-system-articlepage-1423
Jennifer Lord
1. Evaluate the evolving balance of economic power shift from the western countries to the Asian countries then explain the rationale of this shift by supporting your ideas with some examples.
The economic power shift is due to several things. One being population and buying power. Not only does China have the highest population in the world, but it is also the number one market for car sales. “Shifting power involves both influencing access to markets at home and abroad, influence over bargaining, and also intellectual influence over policy debate.” (Whalley, 2009). The United States uses China for manufacturing and the country wants to continue to do business there. The West even invests greatly in China and other Asia countries.
1. Compare India and China to the United States
0. Identify the area in which USA is producing most of its educational outputs than China and India.
The United States has an educational system that is diverse. India has a simpler system. In the U.S. for college to be free the student would require a scholarship. In India, there are some fees when going to college in a public institution, but it is funded for the mostly by states governments and the central government. China is like India. “India has the most universities worldwide. According to data from July 2021, there were an estimated 5,288 universities in India. The United States had the second most universities counting 3,216”. (Statista, 2022).
0. Discuss the relevance of the educational outputs in the three countries
These countries have high population and are considered to have intelligent citizens. Their education should reflect that. The U.S. has more doctors per capita, so that would reflect the education system works better in the U.S., but many of those doctors are of Asia decent.
0. Explain how the US educational output is incompatible with the jobs creation.
“The knowledge and skills of workers available in the labor supply are a key determinant for both business and economic growth.” (Radcliffe, 2022). College graduates are more likely to have careers versus high school graduates. Hiring someone who is disciplined and will understand the tasks quicker, means work is done efficiently.
0. Evaluate if the shift will continue. Support your evaluation with evidence.
Asia seems to have a hold on the economy. It was shifting before Covid. Asia is the fastest growing economic region, and the U.S. saw a quick, but significant recession in 2020.
0. Debate the belief of the younger generations of Chinese and Indians in reference to the economic power shift.
The Indian youth want skill-based education which includes proper job placement. The Chinese youth have similar goals.
0. Explain how the motivated generations will impact their economic growth; and their respective countries will become the United States of a few decades ago.
With importing, exporting, and investments these countries are already just as significant as the U.S. Once their economy ensures jobs based on education and skill level, the economy will grow further. The motivated generations will be more educated than generations of the past.
0. Analyze if these changes will test western nations true commitment to global and open trade.
The West will have their egos hurt, but the import and export of goods to and from Asia is far too great to halt. The Asia-Europe trade is worth over $100 billion. The financial gain is too great for global and open trade to change.
0. Explain the challenges that China and India are facing even with their educational success. Give some benchmarks to support your ideas.
India faces some challenges in their educational system which includes politics, moral issues, and corruption. In China the challenges are language barriers if they move to a different city, and politics. In India you could pay the fees to attend college, and then not attend class. “Students may appear when exams are given or do what is minimally required.” (Tierney & Sabharwal, 2022). It’ll be difficult to be proficient in a subject while doing the minimum requirements.
1. Take on the role of a consultant and propose persuasive recommendations to further inspire economic growth and reduce unemployment rates.
Requiring more in the higher education system when it comes to corruption and bribery. This means having students accomplish assignments and testing. Also, the U.S. climate action may stimulate economic growth. It will also create jobs in the country. It could also do the same for China and India.
-Jen Lord
References
Radcliffe, B. (2022, January 26). How Education and Training Affect the Economy. Retrieved from Investopedia: https://www.investopedia.com/articles/economics/09/education-training-advantages.asp
Statista. (2022, January). Estimated number of universities worldwide as of July 2021, by country. Retrieved from Statista: https://www.statista.com/statistics/918403/number-of-universities-worldwide-by-country/
Whalley, J. (2009, September). Shifting Economic Power. Retrieved from https://www.oecd.org/dev/pgd/45337859.pdf
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