Hi this paper deals ith one of the biggest marketing concerns. traveling through many articles one of the most explicit shortcomings noticed are lack of research on culture related to international market entry modes.
It is important to mention at the very onset that the remarkable economic growth success of China and India is viewed as a miracle. Bloom et al (2006) refers to China and India as the two “population super-powers” in the world. Weisskopf (1975) mentions how both these economies had a number of similarities between them in terms of huge population growth and the need for its citizens to acquire a better standard of living through the means of economic growth as well as to acquire the capability to self-support a flourishing economy. It is seen that before 1980 economic growth in India and China (measured in terms of growth rate of income per capita by calculating purchasing power parity) was relatively slow. However, after 1980 the economic growth in both the economies picked up pace; but the growth in China took place more rapidly than the growth in India. This is depicted diagrammatically in Figure (1) overleaf. Today, China has a considerably higher per capita income than India. Weisskopf (1975) also mentions that industrialization ‘kick-started’ growth in the Chinese economy which resulted in GDP growth rates of 4-6% in the period from 1952-1970. Meanwhile, the Indian economy was dependant primarily on the agricultural sector for growth promotion; and as a result the GDP growth rate of the Indian economy was 3.5% during the same period.
The political environment prevalent in these economies is seen to be responsible for a different economic growth success story for China vis-à-vis India. China was seen to move from a “Maoist, closed ...