Summary of the article.
This is a summary of the “Make or Break for China” by Fareed Zakaria in the Time Magazine January,2014. In the article the Fareed begins by addressing 2014 is the year of the horse in China and list down the country’ problem before it becomes the world’s largest economy . A big part of Fareed’s focus in this article is about China’s challenges likes debt, pollution and corruption. In this article showed how China’s financial crisis and the global economy slowdown based on it’s economic imbalances . The basic economy’s problem is that for almost a decade, China's economic growth has been fueled by cheap credit and government spending--a classic developing-nation problem .The country’s total debt level was estimated at 215% of GDP in 2013.Besides financial problem, China also have serious challenges in environment. Air and water pollution has become a major public health issue in the country.The last challenges in 2014 is the corruption’s problem ,it seriously increasing among the Communist Party. According to this article, China’s president has launched an anticorruption campaign for this unethical problem . In closing, Fareed Zakaria says that ,he not ready to bet against China if China’s leader did not manage this transition well.If China’s leaders manage this transition well.the country will emerge stronger and more stable and become the largest economy in the world.
INTRODUCTION
International business is much more complicated than domestic business because countries differ in many ways. (Charles W.L.Hill, 2013) .China has become the world's second largest economy, with Japan surrendering its 42-year-old ranking after its economy shrank in the final months of 2010 (Moore, 2011). The country also has claimed since as early as 2008 that it either was, or was imminently poised to become, the world’s second-largest economy. While it has