The Assignment:

This assessment deals with international macroeconomics and the importance of cultural diversity. This is a two-part assessment consisting of research skills to identify relevant information, and your analysis based on the information you located.

In this assessment, you will choose aneconomically advanced countryand adeveloping country,and will assume the role as an assistant researcher who is tasked with conducting a detailed study of how the different international trade situations and the differing cultural diversity produces the observable disparities between these two countries.

Your research must be detailed and presented

The first half of your paper will describe, how you determined what data to collect, the sources of that data, how you sorted that data, the time periods that the data describes, and how you chose to analyze the data.

The second half of your paper will focus on your resulting conclusions regarding the differences between the two countries you chose. In addition, include your analysis of the cultural, social, and political diversity between these two cultures, and how these differences contribute to the economic differences you found based on specific evidence from the data you collected.

Using World Bank data, conduct research to determine how economically different the two countries, that you chose, are by examining and comparing economic and social indicators, such as the following, for the year 2015.Include the data that you collected as an appendix to your final report.

GDP (constant 2010 US$)

GDP per capita (constant 2010 US$)

Exports of goods and services (constant 2010 US$)

Imports of goods and services (constant 2010 US$)

External balance on goods and services (current US$)

External balance on goods and services (% of GDP)

Population, total

Population, female (% of total population)

Population, male (% of total population)

Rural population (% of total population)

Urban population (% of total population)

Life expectancy at birth, female (years)

Life expectancy at birth, male (years)

Employment to population ratio, 15+, total (%) (modeled ILO estimate)

Employment to population ratio, 15+, male (%) (modeled ILO estimate)

Employment to population ratio, 15+, female (%) (modeled ILO estimate)

Individuals using the Internet (% of population)

Adolescent fertility rate (births per 1,000 women ages 15-19)

Prevalence of undernourishment (% of population)

Then, expand your research into the cultural differences, including political structure, average education, and social influences, to determine why these two countries are so different.

Access theWorld Bank datafrom Purdue University's Economic Education website, or you can go directly to theWorld Bankwebsite.

The following additional resources may help you to familiarize yourself with how multiculturalism and diversity play a significant role in aiding economic growth and development.

Arocena, F., & Porzecanski, R. (n.d.).Ethnic inequality, multiculturalism and globalization: The cases of Brazil, Bolivia and Peru. http://www.multiculturalismoenuruguay.com/Docs/Articulos/IJCSArocena.pdf

Fensham, P. (2017).Planning in Australia: Economic benefits of cultural diversity. https://www.sgsep.com.au/publications/insights/economic-benefits-of-cultural-diversity

Kivoto, E. (n.d.).Ethnic conflict and its impact on economic development in Africa: A case study of Kenya. http://www.academia.edu/11302119/ETHNIC_CONFLICT_AND_ITS_IMPACT_ON_ECONOMIC_DEV ELOPM ENT_IN_AFRICA_A_CASE_STUDY_OF_KENYA

Also, read the below from the Purdue Global Library:

Donnelly, R. (2015). Tensions and challenges in the management of diversity and inclusion in IT services multinationals in India.Human Resource Management, 54(2), 199-215.

Part 1: Research

You will need to locate one or more scholarly articles from the Purdue Global Library that will help you to analyze factors that determine the disparities of economic growth among countries. The article(s) should provide you with information to answer Part 2 of your assessment.

You must follow the following criteria for your research:

• Explain how your search terms were refined.
• Identify your choice of databases (for example: EBSCO or ProQuest ABI/Inform).
• Identify the range of dates used.
• Identify the experts.
• Identify how you sorted the relevant topics.

Locating scholarly articles:

Scholarly articles must be current and of high quality. These include peer-reviewed academic articles, articles published in journals, and other library resources found in the Purdue Global Library.

How to access the ABI/Inform database, selecting peer-reviewed journal articles:

1. Locate the Library link from Academic Tools.
2. Scroll midway down the page and locate "ProQuest ABI/Inform Collection."
3. Make sure "Full text" and "Peer Reviewed" are checked.
4. Enter your key word(s) in the search area and select the search button.
5. Under Source Type, select Scholarly Journals.

Review this interactive tutorial on "How to Access the ABI/Inform Database" to learn more on how to access and search using the database along with additional resources.

Part 2: Conclusions

Based on the articles provided and the research you conducted using the Library and Internet, identify key factors that determine long-term economic growth by comparing two different countries of your choice. One advanced economy such as England, Canada, Germany, etc., and the other country is considered a developing economy, such as Angola, Afghanistan, Bangladesh, etc.

Explain how economically different the two countries are, by examining at least five different economic indicators, such as gross domestic product, gross domestic product per person, exports, imports, the balance of payments, and the differences in at least three of their social indicators, such as population, population per square kilometer, etc. Then, expand your research into the cultural differences, including political structure, average education, and social influences, to determine why these two countries are so different economically.

What I have written

Due to current global scenario, comaparison of China and USA will be more relevant and might have great implication over acedemic discourse. comparison of various factors like Political, social , cultural etc are as follows-:

Political comparison-

The primary political difference, in my opinion, is that China places a higher priority on stability, whereas the United States places a higher value on individual liberty, even if that liberty is judged to be more costly to society than restricting it. The individual is held in the highest respect by Americans, but the community is held in the highest esteem by Chinese. When the United States wrote its constitution, it made it clear that everyone has unalienable rights. The people were given the freedoms of speech, press, petition, and assembly so that the government would never have too much authority over its population. Americans are educated to think about and question the government's actions, as well as to be aware of their rights. Americans want the government to be as open as possible so that people can understand how and in what ways it is working to improve citizens' lives. China's people are the polar opposite.

They've been indoctrinated to have faith in their government. The Chinese people do not elect government officials, do not have a say in which parties they support, and do not vote in referendums. They simply believe that the government is constantly working to make China the best it can be. They are willing to place such a high level of trust in the government because the CCP has delivered in the past and has a good reputation. They have improved the living conditions of tens of millions of people. They haven't shown any signs of slowing down their progress. This is why the Chinese people have faith in their government.

Other distinctions in the political system can be found. China has only one political party, whereas the US has numerous (although only two parties make up the federal government). Elections and term limits are strictly enforced in the United States. Citizens in China do not vote for government officials, and the president has no term restrictions as of this year.

socio-culturalcomparison-

The group is very important in Chinese culture, but the individual is very important in American culture. Individuals can shine in the United States, however in China, any achievement is considered as a success for the enterprise, the family, or the team. Rather of looking out exclusively for oneself, a Chinese individual will examine how their actions may effect the collective as a whole.

The Chinese value hierarchy, and those higher up in the organisation will be treated with respect. Workers at all levels have access to those at the top in American companies, which has a more flatter structure. In China, a low-wage worker should not expect to have direct interaction with his or her supervisors. Everyone understands their role in the system and follows the rules that govern it.

To Americans, Chinese conversation can feel a little direct. Small chat like age, wealth, and marital status, which the Chinese prefer, might appear intrusive and unduly personal to an American, despite the fact that Americans want to put people in context in the hunt for common ground. However, Chinese tourists to the US may find the language and tone employed in American businesses offensive. The Chinese place a premium on thinking before speaking and showing respect for people in positions of authority. Americans doing business with Chinese counterparts will need to learn to read between the lines because their communication style is oblique.

China treats its senior citizens differently from the United States. Elders are revered and treated with respect, both professionally and socially. Many families have multiple generations living in the same house. Even the deceased are remembered. On the other hand, Americans expect their children to be self-sufficient. The elderly can live hundreds of miles away from their offspring, and elderly isolation is a social problem. Because youth culture is valued in the United States, it can appear ageist to older people.

The right to free expression and access to information is seen as a fundamental right in the United States. China's media and internet are heavily censored. Instagram, YouTube, and Facebook, which are commonplace in the United States, are not available in China. Many Western newspapers are restricted on the internet. Information is exchanged on a need-to-know basis in Chinese organisations, with information rarely filtering down from the top, whereas American corporate culture is often far more open, with significant efforts made to embrace transparency.

Humility is prized in China, and people tend to minimise their accomplishments. In a meritocracy like America, you have to make the most of yourself and let people know about your accomplishments. In China, this is considered arrogant and boastful, whereas in the United States, humility is seen as a show of weakness.

Economic comparison-

For about 140 years, the United States has had the world's largest economy, accounting for roughly 22% of global GDP. However, China has recently surpassed the United States in at least one metric of total economic strength, namely GDP adjusted for buying power parity (PPP). That's the extent of the resemblances. While their total sizes are comparable, their economic makeups are vastly different. The United States has a sophisticated and well-diversified economy built on services, finance, and middle-class consumption. China has comparable long-term goals, but it is currently a resource-intensive development engine transitioning from a manufacturing powerhouse to a consumer-driven economy.

Despite China's massive population, capitalism has given the US economy a great advantage, whereas communist has stifled Chinese economic development. After the death of Communist Party Chairman Mao Zedong, the Communist Party began to loosen some state regulations in order to salvage China's collapsing economy, and this has altered dramatically in the last 50 years. China privatised some businesses in the late 1980s and 1990s, contracting out much of what had previously been state-owned industry and removing many price controls and regulations. As a result, the private sector accounted for over 70% of China's GDP in 2005.

Meanwhile, since the 1960s, the United States' economy has shifted toward a mixed economy, with increased government control. For example, the government subsidises and offers tax incentives to some enterprises while forcing many others to be licenced and comply with regulatory rules that stifle growth. China has had a rough relationship with free-market economy, yet it is now the world's largest exporter. For the first time, Chinese companies outweigh those from the United States on Fortune's 2019 Global 500 list, which ranks the world's top corporations by revenue.

In 21 of the 34 countries polled, the United States is regarded as the most powerful economic power, while China is regarded as the most powerful economy in 12 of them (the U.S. and China are tied as top economic power in Lebanon). Nonetheless, public opinion is split, with no more than half of the population naming either country as the leading economy in most countries. Few people regard Japan or the European Union as the world's most powerful economies. Similarly, in most countries, those who hold favourable views of China are more likely to seek strong economic connections with China. A preference for links with China is also linked to favourable views of Chinese investment and China's developing military capability.

philosphical differences-

Chinese "analogical" or "correlative" thinking "accepts the priority of change or process over rest and permanence" and "presumes no ultimate agency responsible for the general welfare"; Chinese "analogical" or "correlative" thinking "accepts the priority of change or process over rest and permanence" and "presumes no ultimate agency responsible for the general welfare." the natural order of things."

Different modern histories:

Over the last 200 years, the two countries' trajectories and national experiences have diverged dramatically. The United States rose from post-colonial status to become one of the world's Great Powers during the nineteenth century; by the end of the century, it had become one of the world's Great Powers.The United States had become the world's lone superpower by the twentieth century.

hegemonic comparison-

The United States typically favours the worldwide status quo as the single superpower enjoying unprecedented home wealth and global economic and political-military advantages. China is more worried about the environment. The negative consequences of the US-led "new world order" as well as the danger that the US will use its massive military, political, and economic power against it. According to Chinese officials, "[o]nly by developing a new security concept and constructing a fair and equitable security environment will we be able to achieve our goals."Can world peace and security be substantially achieved without an acceptable new international order?"After playing such a minor part in building the system, China must balance its desire to be accepted by an international community it did not create with the fear of being overrun by international rules and practises created, in their opinion, primarily to maintain US global dominance.

conclusion-

Such a reevaluation would strive to dispel illusions, manage differences, and seize new opportunities by combining informed realism, intelligent management, and concentrated leverage. This approach would discount minor breakthroughs, symbolic summitry, or other forms of symbolic summitry.Expectations of becoming "strategic partners" or "strategic competitors" were overstated. In the end, the United States and China are unlikely to be close friends, but their leaders know the unacceptably high costs of being bitter adversaries. However, it is conceivable to operate within a set of restrictions to mitigate the worst outcomes while also taking use of China's evolutionary processes to shift the US-China relationship to a more stable and predictable footing.