Question

Sustainable development and the international responsibility of large multinationals in the developing world is a major issue. What do you forecast will be the strongest factors affecting the future of China and India in the context of The Atlantic article, “How Walmart is Changing in China?’ and the readings since the mid-term of Prof. Michael Santoro, Nanda Nilekani and Paul Shrivastava?

Answer 1

The strongest factors that will affect the future of China and India will be their ability to offer sustainable development opportunities to large multinational companies. It should be noted that both China and India are developing countries and as such their primary focus is on development on economic growth and sustainable development is only their secondary focus. As such governments in both India and China should promulgate long term policies that put into place a robust framework for sustainable development. Government should develop accounting principles that focus on 3P – profit, people and planet.

Focus should be on using renewable energy, creating of minimum waste and sell products that are made in a sustainable manner. India and China should encourage sale of organic products by offering them incentives like tax holidays to their factories or duty cut backs. Capitalism should not be allowed to prevail at the cost of sustainability.