Why are Chinese factories turning to Bangladesh Essay

wherefore are Chinese factories turning to Bangladesh - Essay ExampleThis scenario has been a study instigator for business organisations in mainland China to look forward to better and more convenient preference especially for manufacturing purposes in a contradictory destination. China, in recent years, has been regarded as one of the fastest developing economies in the world. One of the pick out reasons behind the continued and sustained growth of the Chinese economy has been industrial growth (World Bank Office, Beijing, China Quarterly Update). However, in recent years the Chinese economy has witnessed a noticeable slowdown. The inconstant world economic environment as well as rigid domestic polices have the combine factors that have contributed towards this scenario (World Bank Office, Beijing, China Quarterly Update). Thus, in order to mitigate this problem the Chinese factories or manufacturers have started to look beyond their own shores to import products. Consequent ly, Bangladesh has become a favourable option for them because it provides efficient proletarians and comparatively lower wage rates. This strategy by Chinese manufacturers has been mainly prompted by the customary condition in their own market to manufacture products (Cawinfo, Chinese Factories Turn to Bangladesh as Labour cost Rise). Thesis Statement The report intends to discuss the key reasons behind the Chinese factories turning to Bangladesh as a destination for especially importing products. The major driving forces of globalisation have also been considered in the report to comprehend the scenario. Globalisation as a Driving Force for Chinese Factories to Turning to Bangladesh The drivers of globalisation have been an imperative factor behind the Chinese manufacturers desiring to outsource their business in a foreign destination such as Bangladesh which majorly includes, open markets, International Trade Relation Policies, progress in fare and information technology, pri vatisation and liberalisation (A Global Ethic Now, Driving Forces Behind Globalisation). These key drivers that have promote the Chinese factories to turn to Bangladesh as a possible location for outsourcing are opening up of variant national markets to all sorts of companies and removal of trade restrictions. However, in recent times, the one of the biggest problems which has been faced by Chinese manufacturers is the labour crisis. In China, a continued war in coition to labour rights has been a searing issue which has affected the industrial sector in recent times. The war has been engaged with a coarse number of people who come under certain different categories of business world. The workers, trade unions, corporate, Non-Governmental Organisations (NGOs) and political parties in China are deeply engaged in this serious issue. It has resulted in an impact on worker privileges, wages, working environment in China. This battle is badly affecting the Chinese economic conditions . It has become a tough task for manufacturing organisations to abstain from the intermediary cooperation among worker organisations and their allies to procreate a sustainable relation in between the justice related to economy and social activities. It is quite apparent that a boniface of challenges for worker and social movements are being created in the economy of China. The manufacturing industry which relies significantly upon the workers is facing major strife to deal with