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China - Coggle Diagram
China
Technology
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Big tech giants in China ; Baidu , Alibaba , Tencent
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Political
Over the years , the China government is focusing on the development of e-commerce.
China is one of the most powerful countries in the world. It is a permanent member of the Security Council of the United Nations.
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Social
Has the most populated country in the world with 1.4 billion people based on World Meters, 2020.
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Increase in consumer spending as they long for status symbols such as luxury cars, latest smart phones and designer clothing to demonstrate their success.
Industrial Relations
Objectives of China's Industrial Relations Policy: to protect workers' legal rights, to adjust employment relations, to maintain the labor institutions in a socialist market economy, and to promote economic development and social progress.
The implementation of economic reform and an open door policy has caused a lot of significant changes in society and new interest groups have appeared, causing a lot of conflicts of interest
China enacted in 2007 three laws that reform its labor market and amend specifically the 1994 Labor Law: the Labor Contract Law, the Law on Mediation and Arbitration of Labor Disputes, and the Labor Promotion Law. The objective was to promote "social harmony" and end widespread abuse of workers who had no contracts and hence no rights.
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Economical
Over the past few years , China's economy experienced significant GDP growth rate.
If it continues with this growth rate , China will highly-likely surpass US GDP
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