Emerging Economies and Globalization

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Running Head: EMERGING ECONOMIES AND GLOBALIZATION1Emerging Economies and GlobalizationStudentInstructorCourseDateEvaluate the trade theories of Comparative Advantage and National Competitive Advantage inthe context of General Electric Healthcare’s operations in India and China. Discuss how thesetheories explain GE Healthcare's decision to expand into these emerging economies and thepotential risks and benefits of such strategies. Additionally, analyze GE Healthcare’s humanresource strategy and provide recommendations for preparing expatriates for assignments inthese countries. Your response should be between1,000-1,500 words.

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EMERGING ECONOMIES AND GLOBALIZATION2Emerging Economies and GlobalizationMultinational corporations have been regularly seeing for the latest unsaturated marketsfor tapping in the optimisms of enhancing their business along with capitalizing on the upcomingindustry trends. General Electric Healthcare (GEH) has been one of such Multinationalcorporations thathavebeen trying to capitalize on incessantly increasing healthcare industry. Inthe year 1878, Thomas Edison has launched General Electric (GE) that has been the corporation,which has set General Electric Healthcare in the year 2004.General Electric had been the very first organization to invent household light bulb aswell as it has successfully ventured forwarded in electric industry by their innovations as well asmanufacturing of the household appliances, lighting fixtures, light sockets, for founding one ofcountries biggest computer organizations. This organization has recently set General ElectricHealthcare in the year 2004 for tapping in the increasing healthcare industry along with in theyear 2005; General Electric Healthcare has innovated along with manufactured world’s 1sthigherdefinition magnetic resonance (HDMR) system(About US, General Electric website, 2014).General Electric Healthcare has presently expanded their operations in India along withChina; its India operation has been making newer drugs for healthcare industry and its Chinalocation has been busy in manufacturing the X-ray equipment for healthcare industry. Thisresearch would discuss the General Electric Healthcare business operations along withfollowing:Two trade theories, which describe why General Electric Healthcare has enhanced theiroperations withinIndia and China.The explanation of trade theories along with the evaluation of

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EMERGING ECONOMIES AND GLOBALIZATION3General Electric Healthcare’s reasoning about using theories Potential pitfalls within the GeneralElectric Healthcare’s strategy.The evaluation of General Electric Healthcare’s human resourcestrategy within China as well asIndia,Proposal for training along with preparing expatriates forits assignment in India and ChinaTrade TheoriesTwo trade theories for the discussion have been the Comparative Advantage and alsoNational Competitive Advantage.Comparative AdvantageComparative Advantage had been launched in the year 1817, by David Ricardo within itsbook ‘The Theory of Political Economy and Taxation’. As per Ricardo, Comparative Advantagehas been if “two countries along with two commodities, even when one country has been lessereffective than another nation in producing both the commodities, there has still been the basis forthe mutually advantageous trade”(Gunawardan, 2007).When any nations specializes in developing as well as manufacturing of the specificproduct and afterwards exports that when having comparative advantage and also afterwardsimports goods because of comparative disadvantage(Gunawardan, 2007).Having thecomparative advantage has not been the similar thing like being best atanything;this has beenthe capability of generating the best at the low cost.Every nation has separate comparative advantages. For instance, China having thecomparative advantage in their labor intensive manufacturing industry.General Electric

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