Seminar "China and its impact on global economy"
Seit dem Sommersemester 2016 hält Herr Dr. Reichl an der Wirtschaftsuniversität Wien das Seminar "China and its impact on the global economy". Da das Seminar in englischer Sprache sein wird, sind die folgenden Informationen nur auf englisch.
From March 2016 onward, Dr. Reichl will hold the seminar "China and its impact on the global economy" at the Vienna University for Economics and Business.
During the last decade, China has had an ever increasing influence on the global economy. It has rapidly developed from a low-cost manufacturing location for high-volume consumer products and from a vast market for Western investment goods in the 1990ies to a producer of intelligent and increasingly competitive investment and consumer goods. It has not only started to compete with established Western companies in their home turfs, but is increasingly active as acquirer of Western technologies and assets. Its demand and sourcing strategy of raw materials have increasingly influenced global production volumes and prices in agricultural, metal or energy sectors.
Today, China has become an equal partner for the developed parts of the world in nearly all sectors of economic activities and institutional aspects. Its huge reservoir of human labor and of (potential) consumers creates opportunities and challenges, even though there are periods of lower growth and financial instability. For most companies and countries the basic questions is: Will China continue its steep growth path or “will it get old before it gets rich”? What can be future models for a balanced world economy including China?
This highly interactive course will analyze and describe the past, present und possible future of China’s economic development and the impact it has and might have on other parts of the world (especially on Europe, the US and Africa/South America) in various industries.
Aims of the course
China and its impact on the global economy is changing rapidly. Simple facts and numbers (except in history and geography) will most probably be outdated already once the students leave university. Therefore, the course has to take a more sustainable approach by dealing with dynamics within China, its demand and consumption, the strategies of its companies, and its trade with other parts of the world. And the course has to deal with possible structural changes within the global economy due to the impact of China.
Against these considerations, it is the aim of the course to give students an understanding of the structure of Chinas economy with regards to different industries, different regions, its development during the last decades, and its political and economic thinking. In addition, strategies, strengths and weaknesses of Chinese companies in various industries will be highlighted, as well as the topic "Investing in China" for Western companies.