Emerging Market in China Research Paper Example | Topics and Well Written Essays - 3500 words

Emerging Market in China - Research Paper Example Cavusgil et al., (2002) stated that the term of emerging market has been used to generalize the meaning of developing country in characterizing low-income level economies. This was a term first mentioned by Antoine W.Van Agtmael, of the International Finance Corporation. It was, however, unclear how to exactly give a definition of an emerging market back then. Some observers defined it as an extremely low-income economies under the umbrella of emerging market. Some observers included countries that experience a dramatic increase in terms of economic growth, and the rest of the countries not considered developed (Pacek et al. 2007). Emerging market countries have many characteristics in common describing their developing countries. They usually have a substantial agricultural region in between the rural and urban areas. Other characteristics include low productivity, poor level of building the foundation, poor education and nutrition. However, countries with these characteristics must have positive momentum in economies and development. According to The World Bank’s definition, emerging economy has an average per capita income of less than approximately 9000 USD and is maintaining a great economic transformation.Characteristics of an emerging marketThere are several aspects that are shared by emerging economies in terms of economic, technological, sociocultural and political aspects. In economic terms, emerging markets have been favoured by some of the fastest growth rate in the world.