The conflicts with North Korea prevented South Korea from concentrating more in economic sector. In short, doing business in a country depend on many internal and external parameters. This paper briefly analyses the business prospects in Chin and Korea.
Mao Zedong was succeeded in implementing a cultural revolution in China through the October revolution. But it is difficult to recognize Mao as the architect of modern China. Deng the visionary leader followed by Mao was the architect of modern China. Mao was more adamant in the implementation of the tight communist principles whereas Deng has given the communist principles more liberal look and a human face. Mao was more focussed on ideological warfare and class struggle whereas Deng shifted his attention towards the practicability of communist principle in economic progress. Lieberthal (2003) has mentioned that the political considerations in Beijing dictated the pace and thrust of the reform process throughout the 1980’s (Lieberthal, 2003, p.123). Mao failed to recognize that the biggest population of China need more practical solutions than the one mentioned in the communist manifesto. On the other hand, Deng realized that for China like a heavily populated country, principles on papers may not help and practical solutions were required.
Gittings, (2005) has mentioned that political reformation process undertaken by Deng was the result of his realization that the economic reforms would be ineffective unless the party could also be reformed (Gittings, 2005, p.173). Politics were dictating the Chinese administration before Deng and it was difficult for the business people to start a private business in China before the Deng administration. Deng has realized that the government alone may not be able to tackle China’s problems and the cooperation of the private capital is essential for the