Essay on Foreign Investment & Human Resource Development in China's Economic Growth

Introduction

Foreign investment refers to the investment of local companies and assets of another country by an investor from a foreign country.it also involves opening up new corporations in other countries because the opportunity for labor costs and production may come in handy (Ramaswamy, 2019). While Human resource development refers to the use of organization, training, and developing one`s career in order to improve the company`s effectiveness (Schmidt, 2010). China`s economic growth has brought about a shortage of skilled laborers even though the fact the country is instilling forces and initiatives to handle the workforce (Jianhua et al., 2013). Foreign investors have tried to enhance their competitive ability and also improve technology and also the utilization of the resources (Shi et al., 2019). The study will mostly focus on foreign investment, contribution and human resource development and also the innovation policy in China

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Research Questions

• What are a foreign investments and foreign policy?
• What are the impacts of foreign investments?
• What are the contributions of human resource development?
• What are the impacts on human resource management?

Research Objectives

• The research aims to show how foreign investment has helped to increase the vast economic growth
• The research also aims to showcase the human resource strategies that have been implemented to curb the shortage of workforce
• The research explains different innovation policies that surround human resource development and also foreign investors.

Problem statement

The foreign investors and also human resource management should try to improve on the public relationship between them.

Literature review

Foreign investment refers to when an individual or a company from one country decides to invest her assets or ownership of a country based in another different nation., most of the countries do so in order to increase their network and also due to the cheap labor and also materials (Liu et al., 2010). When a country welcomes new investors, it tends to improve the economy of a country. Foreign policy refers to how a country relates to the other in matters of trade, business and others, the way a country relates to the other strengthens the bonds, and this will help benefit both of them in terms of finance and profit (Bian, 2015), China tends to allow foreign investment, and by doing so, it has helped increase growth and productivity of the government`s economy (Strom, 2018).

Foreign investments have a positive impact on the development and growth of the economy of china since it has helped to aid in the provision of financial assistance to the country and also help to increase the business network (Xinhua, 2018). China supports the export and importation network of business since it leads to industrial growth and also increases profits in the areas and, by doing so, help to create business employees and also improve on the public relations between the two countries (Witkowska, 2019). It also leads to economic development and also invite new investors.

Human resource management contributes and can lead to facilitating change, proposing smart strategies and programs which are later used in improving quality business and also help in the implementation of wrong businesses (Anshan & April, 2013). It tends to handle the labor relations and dispute resolution operations for a company, and they also ensure that the organization is familiar with the government laws and regulations in regards to paying wages, taxes and also ensure labor and equal opportunity requirements (Tsai, 2018).

The human resource management tends to add value to the business since they tend to bring about change, proposing new strategies that may also lead to increase in business profits or increase the productivity and also the formation of programs that tend to provide a quality and also based on contribution to the business in the area (Schmidtke & Chen, 2016). Human resource management also tends to create visions, define values, set goals, and by doing so, it will help obtain the right people and also motivate them (Wang, 2017). Human resource management also contributes to the creation of adding value by ensuring the people working are well trained and help them create pleasant environs that can stimulate positive productivity (Yu et al., 2019).

Significance of the Study

The study is essential in bringing up how human resource management influences foreign investments, and how both human resource management and foreign investment influence the economy of a particular country (Zhang & Nesbit, 2018). The findings of this study are crucial as they will help investors and the country in determining the impact of foreign direct investment to China and what the government can do to attract more investors. Moreover, the government and the concerned authorities should put the recommendations of this study into consideration to ensure that they attract the right investors (China & Lu, 2020). For researchers, the study will help to uncover essential areas for educational purposes that other researchers were not able to explore. Therefore, new approaches and theories of foreign investment will be attained.

Research Methodology

The research methodology in the study is a document review that is a branch of qualitative research. It is essential as it becomes easy to align outcomes, assign resources, make decisions, and create strategies. It has its advantages as it does not require the participation of individuals to get information. It is cost-effective and reduces the time for analysis as only one person can do all the work. Its disadvantages include that it does not give room for opinions and that the information can be sensitive. The documents may also not available on the public domain or require subscriptions or purchases. The research design and methodology also show how the research outcome at the end. It also illustrates the research methods to be used during the research processes. If the researcher needs to emphasize, he or she will outline the research strategy, research design, study area, and sources of data.

Conclusion

Foreign investments tend to work hand in hand with human resource management in order to bring about productivity in one`s country. The foreign investments based on good relations between one country and the other, and by doing so, it will help increase the business network and also increase productivity and also offer business opportunities to the local people. The foreign investments tend to bring about and increase excellent public relations between one country and the other.

References

Anshan, L., & April, F. Y. (2013). Forum on China-Africa Cooperation : The Politics of Human Resource Development. Africa Institute of South Africa. http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=nlebk&AN=632583&site=eds-live&scope=site. Accessed May 15, 2020.

Bian Y bianyongmin@uibe. edu. C (2015). A Revisit to China’s Foreign Investment Law: With Special Reference to Foreign Investment Protection. Journal of East Asia & International Law ;8(2):447-469. doi:10.14330/jeail.2015.8.2.08.

China, K., & Lu, L. (2020). Greater flexibility for financing and structuring foreign investment in China. International Tax Review, N.PAG. http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=bth&AN=141630937&site=eds-live&scope=site.

Jianhua Li, Changhe Wang, McGoogan, J. M., Keming Rou, Bulterys, M., & Zunyou Wu. (2013). Human resource development and capacity-building during China’s rapid scale-up of methadone maintenance treatment services. Bulletin of the World Health Organization, 91(2), 130–135. https://doi-org.proxygsu-gamc.galileo.usg.edu/10.2471/BLT.12.108951

Liu, G. G., Zhang, S., & Zhang, Z. (2010). Investing In Human Capital For Economic Development In China. World Scientific.http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=nlebk&AN=340783&site=eds-live&scope=site. Accessed May 15, 2020.

Ramaswamy, M. P. 1. rmp@umac. m. (2019). The impact of the new Chinese Foreign Investment Law 2019 on the administrative legal system governing foreign investments and implications for the investment relations with Lusophone Markets. Juridical Tribune / Tribuna Juridica, 9(2), 330–343. http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=lgs&AN=137936128&site=eds-live&scope=site.

Schmidt, S. W. (2010). Case Studies and Activities in Adult Education and Human Resource Development. Information Age Publishing. http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=nlebk&AN=469752&site=eds-live&scope=site. Accessed May 15, 2020.

Schmidtke, C., & Chen, P. (2016). Component Theories for Human Resource Development in China: A Proposition. International Journal of Adult Vocational Education and Technology, 7(4), 35–53. http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=eric&AN=EJ1155645&site=eds-live&scope=site.

Shi, S., Wall, R., & Pain, K. (2019). Exploring the significance of domestic investment for foreign direct investment in China: A city-network approach. Urban Studies (Sage Publications, Ltd.), 56(12), 2447–2464. https://doi-org.proxygsu-gamc.galileo.usg.edu/10.1177/0042098018795977

Strom, Z. (2018). A “Silk Road” for Capital: Trade Policy and Foreign Investment Laws of China’s Neighbors. Northwestern Journal of International Law & Business, 38(3), 475–498. http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=lgs&AN=130868059&site=eds-live&scope=site.

Tsai, I.-C. (2018). Structural Changes in the Relationship between Foreign Direct Investments and China’s Housing Price Bubble. Chinese Economy, 51(6), 503–521. https://doi-org.proxygsu-gamc.galileo.usg.edu/10.1080/10971475.2018.1481007

Wang, Q. (2017). The Management of Foreign Private Equity Funds Involves Foreign Investment and Foreign Exchange in the China (Shanghai) Pilot Free Trade Zone. Chinese Economy, 50(4), 249–258. https://doi-org.proxygsu-gamc.galileo.usg.edu/10.1080/10971475.2017.1321887

Witkowska, J. (2019). The Attitudes of the European Union and China Towards Foreign Direct Investment: Implications for Bilateral Relations. Comparative Economic Research, 22(3), 83–98. https://doi-org.proxygsu-gamc.galileo.usg.edu/10.2478/cer-2019-0024

Xinhua, Y. (2018). Lesson to be learned from Aquaculture Development in China: Human resources, Technology innovation, Extension and Governance. FAO Aquaculture Newsletter, 59, 49–51. http://search.ebscohost.com.proxygsu-gamc.galileo.usg.edu/login.aspx?direct=true&db=eih&AN=133511794&site=eds-live&scope=site. Accessed May 15, 2020.

Yu, L., Zhang, J., & Wen, Y. (2019). Does foreign investment liberalisation enhance women’s economic status? Microevidence from urban China. World Economy, 42(12), 3404–3429. https://doi-org.proxygsu-gamc.galileo.usg.edu/10.1111/twec.12873

Zhang, Y. E., & Nesbit, P. L. (2018). Talent Development in China: Human resource managers’ perception of the Value of the MBA. The International Journal of Management Education, 16(3), 380–393. https://doi-org.proxygsu-gamc.galileo.usg.edu/10.1016/j.ijme.2018.06.001