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(Original Question)

Emerging markets in other developing countries are gaining global influence and global power. In 20 years, these countries will be the dominant force in global economics.

After reviewing the module resources, analyze, summarize, and support with additional scholarly articles the following questions:

Will developed countries be able to maintain their competitive edge against emerging markets such as China or India? Why or why not?

What should change, if anything, in the economic policies in order to make the developed countries more competitive?

In your opinion, in terms of economic power and the GDP, who will be the global leader in 2050 and why?



(What I need to answer)

In your responses to peers, consider their viewpoints in relation to your own and enhance or respectfully debate their opinions. Support your position with citations from the resources.

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RESPONSE 1 (Bethany Mancuso) Developed countries will become even more competitive with emerging markets like China and India as these two particular countries become even more developed. Developed countries like the US are already losing their competitive edge over these markets and they aren’t even considered developed yet. China and India can provide a cost effective and efficient production for consumers in a way that the US and its companies just aren’t willing to do (Smith, 2013). Companies in the US are focused on revenue and expansion growth that they don’t necessarily focus on the things that consumers want such as innovation, brand management, or operational improvements. Therefore, it makes sense of consumers to want to use India or China for their products because they will at least be inexpensive compared to companies in the US. Economic policies in developed countries could certainly change in order to make them more competitive with countries like China and India. Some specific economic policies that could change include the corporate taxes and tariff taxes on imported goods. All of these things make it harder for corporations to operate and make money which stimulate the economy and makes it less desirable for companies and countries to import to the US (“How will,” n.d.). In terms of economic power and the GDP, the global leader in 2050 will be China. China will be the global leader in 2050 because of their growth over the last ten years has been tremendous and how they are already competing with developed countries and threatening their world leadership. Also, the Chinese government is very focused on this growth and has a 30 year plan to rule the world (Smith, 2013). References How will Trump’s Policies Affect the U.S. Economy. Retrieved from http://knowledge.wharton.upenn.edu/article/trumps-policies-economy-wharton-experts-weigh/ Smith, P. (2013, July 9). Global Trade Policy: Questions and Answers. Wiley-Blackwell: UK. RESPONSE 2 (James Crookham) Developed countries will be able to maintain their competitive edge against emerging markets such as China or India only by continuing to encourage private businesses to innovate and continue the advance of new technology. The economic policies in order to make the developed countries more competitive are those that require advancements in healthcare, energy production, environmental standards and human rights. Some policies that consumers feel are restricting and punishing current business practices are often put in place by governments as a forward looking plan to encourage development of technology and better the lives of its citizens. Automobile fuel standards that increase the mile-per-gallon (mpg) of an automobile are being relaxed by the US government as the Environmental Protection Agency (EPA) states that the standards are affecting automobile sales, thereby retarding the U.S. economy (Eisenstein, 2018). The other viewpoint on the higher standards is that investing in the technology to develop the engineering processes and get automobiles on the market that save owners money encourage economic development (CAFE, 2015). The US Congress established Corporate Average Fuel Economy (CAFE) standards in 1975 as a tool to use lessons learned from the 1973 oil crisis and geo political climate that resulted from oil embargos and other world events. In 1975, the goal was to have fuel economy standards for new passenger cars in place by 1978, with a goal of reaching 27.5 mpg by 1985 (CAFE, 2018). Other world events and political changes have altered the path of CAFE with arguments for both sides of the argument for the higher standards. I believe that because of these standards, the air is much cleaner, automobiles have gained in reliability, length of service, and safety since 1973, and the push of increasing the technology is has made the automakers more responsible. U.S. producers have struggled on and off throughout this period, but fuel efficiency standards are not necessarily to blame. In my opinion, in terms of economic power and the GDP, nations that are home to institutions that finance global operations will be the global leaders in 2050. As production and assembly operations become more LEAN and Agile, production can be moved swiftly and in short time duration as production costs fluctuate. Consumers in developing nations will have earning power to buy more goods, but that economic cycle also increases operating costs in those regions. In my opinion, the multi-national corporations that operate globally will hold on tight to their financials and intellectual property in their countries of origin. Governments are slowly retracting on research and development in their budgets, and it will be the private financiers that benefit. CAFE (2018). A Brief History of U.S. Fuel Efficiency Standards. Union of Concerned Scientists. Retrieved from https://www.ucsusa.org/clean-vehicles/fuel-efficiency/fuel-economybasics.html#.WtUAhYjwZHY Eisenstein, Paul (March 30, 2018). EPA expected to announce rollback of Obama-era mileage standards. NBC News. Retrieved from https://www.nbcnews.com/business/autos/epa-expectedannounce-rollback-obama-era-mileage-standards-n861416 ...
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Running head: EMERGING MARKETS AND DEVELOPED NATIONS

Emerging Markets and Developed Nations
Student Name:
Institution Affiliation:
Date:

1

EMERGING MARKETS AND DEVELOPED NATIONS

2

Emerging Markets and Developed Nations
Response 1
Mancuso argues that the reason as to why emerging markets are gaining economic power
is that they can cost-effectively and efficiently provide goods and services to their consumers as
compared to developed markets. While companies in the US are focused on revenue and
expansion growth, those in China and India capitalize on innovation, operational efficiency, and
brand management. Lowering corporate taxes and tariffs would make the business environment
in developed nations favorable (Smith, 2018). China is likely to become the global economic
leader in terms of GDP in the next 30 years. It is currently threatening economic powers like the
United States with most economies preferring to trade with China and In...

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