Developing Economies and Globalization Paper

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Running Head: DEVELOPING ECONOMIES AND GLOBALIZATION 1

Developing Economies and Globalization

Name

Institution

DEVELOPING ECONOMIES AND GLOBALIZATION 2

Developing Economies and Globalization

Introduction

Developing economies is gradually becoming tapped market for the General Electric

Healthcare given its continuous population growth. The emerging economies including India

and China have remained unsearched market base for healthcare industry for a longer period

of time. The expansion of the GEH operations and healthcare research development in terms

of new equipment and drugs production both in India and china has led to global market

expansion for the medical healthcare equipment and drugs (Dadush & Shaw, 2011).

Drug invention has evolved rapidly in India and China where the manufacturing of

the X-ray equipment has been recognized (Kose & Prasad, 2010). It is therefore against the

above arguments that this paper will develop the economic applications on two major trade

theories to correlate the GEH business expansion in new healthcare equipments and drug as

well as the new invention in the X-ray manufacturing in China. The selected trade theories

will be used to explain implicitly the GEH reasoning and the demerits of using these

approaches in the healthcare industry.

International Trade Theories application in GEH’s reasoning

In order to understand the key operations of the new drug development in India and

X-ray manufacturing in china, the international trade theories must be applied. The two trade

theories in application include the international product life cycle trade theory and the

comparative advantage trade theory. International product life cycle theory is well placed in

explaining the GEH expansion for the new drug development in India. According to Stark

(2015), international product life cycle trade theory emphasizes on the micro industrial

saturation whereby after a certain stage, there comes growth and maturity. It therefore shows

that GEH has started expanding its operations in to the India economy that will allow it to

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Running Head: DEVELOPING ECONOMIES AND GLOBALIZATION Developing Economies and Globalization Name Institution 1 DEVELOPING ECONOMIES AND GLOBALIZATION Developing Economies and Globalization Introduction Developing economies is gradually becoming tapped market for the General Electric Healthcare given its continuous population growth. The emerging economies including India and China have remained unsearched market base for healthcare industry for a longer period of time. The expansion of the GEH operations and healthcare research development in terms of new equipment and drugs production both in India and china has led to global market expansion for the medical healthcare equipment and drugs (Dadush & Shaw, 2011). Drug invention has evolved rapidly in India and China where the manufacturing of the X-ray equipment has been recognized (Kose & Prasad, 2010). It is therefore against the above arguments that this paper will develop the economic applications on two major trade theories to correlate the GEH business expansion in new healthcare equipments and drug as well as the new invention in the X-ray manufacturing in China. The selected trade theories will be used to explain implicitly the GEH reasoning and the demerits of using these approaches in the healthcare industry. International Trade Theories application in GEH’s reasoning In order to understand the key operations of the new drug development in India and X-ray manufacturing in china, the international trade theories ...
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Tags: developing economies globalization emerging economies international trade theories GEH