26 units in summer semester 2020 in blocked mode
Lecturer: Dr. Manfred Reichl
In English language

The seminar is limited to 25 attendees. There will be a waiting list, since our experience is
that (i) at the beginning of the registration period, students are overbooking various
seminars, with the consequence that these are fully booked after a few hours; (ii) appr. 20%
of the students usually cancel their registration for the course during the following days. So if
the course is already fully booked, please contact jana.salot@wu.ac.at for the
waiting list.

This course – a “spin-off” of the seminar “Scenarios of globalization”, held by Dr. Reichl
since 2008 – is a consequence of the ever increasing importance of China for the global
economy. The highly successful teaching and learning method of the globalization-course
will be continued.

Course description

Since China started to implement its market-oriented economic model in the 1980ies and
early 1990ies, China has become the second biggest economy after the US, regaining its
leading position, which it held until the early 19th century. During the last two decades, China
has gained – propelled by its special political model – an ever increasing influence on the
global economy, cumulating in the “trade war” between the US and China during the last 2
years. It has rapidly developed from a low-cost manufacturing location for high-volume
consumer products and from a vast market for Western investment goods in the 1990ies to a
producer of intelligent and increasingly competitive, technologically leading investment and
consumer goods.
China has not only started to compete with established Western companies in their home
turfs, but has increasingly been active as acquirer of Western technologies and assets. Its
demand and sourcing strategy of raw materials have increasingly influenced global
production volumes and prices in many economic sectors. Today, nearly no globally active
company can risk not to be present in China.
Today, China’s huge reservoir of human labor and of (potential) consumers creates
opportunities and challenges. For most companies and countries the basic questions is:
What can be future models for a balanced world economy including China? What position
should China have in the overall strategy of a company? How should companies proceed
when optimizing their presence in China? What should they consider before expanding or
restructuring their activities in China?
This highly interactive course will analyze and describe the past, present und possible future
developments of China’s economic development and the impact it has and might have on
other parts of the world (especially on Europe, the US and Africa/South America) as well as
in various industries.

Structure and schedule
The course will be held in blocked mode. There will be a short preparatory block on
Mon, Mar 23, 2020 17:00 20:00 D1.1.074 Seminar room (3 units)

The major block will be in the week starting on May 25, 2020:
Mon, May 25, 2020 09:00 16:00 D1.1.074 Seminar room (6 units)
Tue, May 26, 2020 09:00 17:00 D1.1.074 Seminar room (6,5 units)
Wed, May 27, 2020 09:00 16:00 D1.1.074 Seminar room (6,5 units)
Thu, May 28, 2020 09:00 13:00 D1.1.074 Seminar room (4 units)
Thu, May 28, 2020 18:00 19:00 D1.1.074 Seminar room (written exam)

Aim of the course

China and its impact on the world economy is changing rapidly. Simple facts and numbers
(except in history and geography) will most probably be outdated once the students leave
university. Therefore, the course has to take a more sustainable approach in dealing with the
dynamics within China, its demand and consumption, the strategies of its companies, and its
trade with other parts of the world. The course also is dealing with possible structural
changes within the global economy due to the impact of China.
Against these considerations, it is the aim of the course to give students an understanding of
the structure of China’s economy with regard to different industries, different regions, its
development during the last decades, and its political and economic thinking. In addition,
strategies, strengths and weaknesses of Chinese companies in various industries will be
highlighted, as well as the topic “being present and investing in China” for Western
companies.

Planned learning outcomes

The course will provide an understanding of the economic background and attitude of
Chinese society and politics, China’s recent economic structures, trade flows and trends,
economic forces, as well as risks and opportunities for Western companies and investors.
After participating in the course, students should be able
i) To understand the structure of China’s economy with regards to economic sectors,
regions, social values, and the role of the state;
ii) To judge Chinese companies, their strengths and weaknesses, and their global
strategies;
iii) To assess China’s potential for Western companies as well as approaches for
investing and optimizing a company’s presence in China;
iv) To understand the impact, which China and its companies are having and might have
in the future on world markets.
Participants will prepare and present specific topics, like historic and recent developments,
characteristics and role of state-owned companies, situation and trends in specific industries
(e.g. in Agriculture, Consumer Goods, Energy, Automotive), or financial markets. Thus, they
will develop sensitivity for trends, impacts and interrelation of various subjects with regard to
China.

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It is Dr. Reichl’s experience that participants benefit the most when they study, prepare and
present specific subjects on their own or in small teams. Students highly appreciate the
opportunity to work in a practical way (as later in companies) and to get presentation
experience. Since most information and data are available online, the real value-added of
the course will be in discussing, connecting and interpreting information, data, and trends,
which will be prepared and presented by one or more students. Consequently, the course
will include around 15 short presentations by students on pre-defined subjects.

Thus, the course will be held in a highly interactive mode, with the students preparing and
presenting defined subjects, and working in teams on cases. There will be a homepage
available for the course on learn@wu, providing a platform for discussions and blogs of
students. Students are expected to participate in these online discussions. In addition, the
course will be supported by guest speakers, who will highlight their own experiences, views
and interests.

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