Time Schedule:
Tai-Ping C Knechtges
I BUS 491
Seattle Campus
Students meet with business community leaders to discuss international aspects of their companies. Allows for networking and sharing experiences with other students as well as practicing foreign languages. Credit/no credit only.
Class description
Since China adopted the “Open Door” policy in 1979, China gradually began to open itself to foreign investments and adopted free market reforms. And even before China became a member of the World Trade organization in 2001, China had already begun systematically to liberalize its policies and granted foreign companies greater access to China’s vast market. Today, multinationals enjoy the highest degree of market access and economic freedom in China. And the rapid increase of international trade in China has greatly enhanced its global economic position and foreign capital investment. In the 1990s, China was in the ranks of the world’s top 10 exporters. Today China has rapidly become the world’s fourth largest trading nation. Because of it’s economic strength and enormous foreign trade, China has emerged as a global economic power over the past two decades. China has joined the U.S., European Union, and Japan as a global economic power. And China’s ongoing economic transformation is making a profound impact not only on China or Asia but on the world. Here are some facts: •China and the U.S. are the world's largest and second largest foreign investment destinations respectively. China became the world's largest recipient of foreign direct investment (FDI) for the first time in 2002. The large inflow of FDI made China to surpass the United States as the world’s top recipient of FDI. It has helped China to grow at the fastest pace among the world’s top 10 economies •In the early 1990s, China experienced a foreign exchange shortage. But by the end of October 2003, China’s foreign exchange reserve reached US$401 billion. It has become the world’s second largest nation with foreign exchange reserve only after Japan’s US$644.569 billion. •China is the second largest energy consumer in the world, following the United States. China’s rapidly growing economy will drive energy demand growth of about 4-5% annually through 2015 (compared with a growth of about 1 % in the industrialized countries.) China currently consumes about 10 % of the world’s energy, and also accounts for about 1- percent of world’s energy production. •The United States is the world's largest trading nation for both imports and exports. It accounts for roughly 20 % of world trade in goods. But China has rapidly become the world's fourth largest trading nation since 2003, after Japan and Germany which rank second and third respectively. •China is the second-largest holder of U.S. Treasury debt in the world, after Japan, and closing in on the No.1 spot.
There is no doubt as China keeps gaining stature in the world economy, China will play an increasingly important role as both a major local market for US goods and as one of the distribution centers for Asia. Its trade and interaction with the rest of the world will continue to grow. More and more US multinationals realize the importance of China’s market and have begun to integrate China into their regional and global production networks.
Doing successful business in China begins with an understanding of the business climate and culture. As a result, more and more US business professionals are interested in learning Chinese business language and in particular Chinese business culture. The objectives of this course are to fulfill those needs.
Student learning goals
This course is designed for students who are interested in doing business in China:
*Build their vocabulary of business and professional terminology; *Read business related articles and statistical information;
*Learn business customs and practices; *Master the necessary skills of answering the telephone, responding to business inquires, and making appointment;
*Practice taking messages, and write brief summary reports in Chinese;
*Practice making formal presentations;
*Review basic business documents including invoices, shipping documents; bank statements, and brochures introducing new products;
*Write basic business communications including letters, reports and resumes.
General method of instruction
This course will teach business language in Chinese. It will focus on China’s contemporary international business issues and practices. Course subjects will include international business activities such as trade, banking, marketing, finance and investment. Contemporary newspaper reports, periodicals, documentary materials, government statistics, as well as video recordings will be the main tools to explore different aspects of the businesses in China.
Recommended preparation
This is a Chinese and English bilingual course, and is taught in Chinese. English reading materials will be used for translation training purpose. Students are encouraged to speak Chinese only in class. Thus students are required to have considerable knowledge of the Chinese language including speaking, reading and writing skills. Weekly presentations in Chinese are required.
Class assignments and grading
There will be one midterm and one final exam each quarter. Weekly oral presentation is counted as one quiz. As a matter of policy, there will be no make-up quizzes or exams at other than the scheduled times. Individual rescheduling of examinations is not permitted.
Preparation/participation 10% Weekly presentation (quiz) 30% Midterm 30% Final exam 30%
