By John O'Shaughnessy, Anthony Pecotich, Clifford J., II Shultz
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The pace of the transformation may not be quick or consistent enough for some outside observers; however, there is no doubt that the economic reforms first implemented in the late 1970s have brought continuous growth of GDP: China is one of the fastest-growing countries in the world. As is to be expected, the consumer markets have also shown immense expansion. , from the country to the city) and other changes present both a major challenge and an opportunity for China and the world. The management of the transformation will require consummate skills, but whatever the final outcome, there is little doubt that events in China will have a major influence on the shape of the future in the region and beyond.
At the turn of the twenty-first century, Australia experienced more positive growth, but this was tempered with a greater sense of uncertainty, with the tragic events of Bali in October 2002. Despite a hardy, historical pioneering rough-and-ready bush image, modern Australia is an urban community with a social structure centered in the cities, particularly on the east coast. ECONOMIC CLIMATE The economic climate of the country influences consumer behavior. Key measures of the relative health of the economy include inflation, gross domestic product, employment rates, the balance of payments, interest rates, and finally, exchange rates.
In particular, considerable investment in marketing education and infrastructure will be necessary. Nonetheless, Rahtz and Sidik present an optimistic portrait of a nation moving forward to take a place on the world stage that is commensurate to its size. Japan Tsutomu Okahashi, N. Clay Gary and Steven Ward provide a systematic evaluation of Japan, a nation that has risen from the ashes of World War II to become a dominant economic power. However, it seems that with the recent recession, the “Rising Sun” has paused; whether this pause INTRODUCTION 17 is temporary is yet to be determined.