Unit 4 Individual Project Essay Example | Topics and Well Written Essays - 750 words

Unit 4 Individual Project - Essay Example This is because the two primary reasons firms face which obstruct their profit margins are reduced significantly. A large part of the Chinese economy is dependent on international trade. This is why the laws in this particular business function are very carefully designed so as to keep a strict eye on the processes but also but let it harm the economy by discouraging anyone. USA is the biggest international trader in the Chinese economy with an export percentage of 21.0% and 7.9% imports share. A total of $1216 billion exports in 2007 o every type of commodity from machinery and equipment to textiles to iron and steel as raw material, China really makes extremely good use of all its resources. Imports are a little lesser than exports. Measuring at $953.9 billion in 2007, the country imports many of the things it exports too. This is due to the reason for high flow of materials required in the domestic production. Whenever material is needed it sometimes is not available therefore it has to e imported to save time. This is a place where China has outdone every other country and left everyone speechless. With an unemployment rate of only 4% in a huge population and having a labour force of 803.3 million workers in 2007 the country has the unmistakable figures of having put a lot of thought and work in the development into this sector. However, labour abuse is a common practice in China. Many big multinationals have even been caught practicing this unethical act. Laws are there, but they are not fully and properly enforced. This is lagging on part on the government who are still oblivious to the importance of their workforce. The workforce in many areas is so poor that even though they can get a meal for themselves daily, they do so by being exploited by small and medium sized businesses who make them work for as low as one dollar an hour and since they are desperate, they