NON-STANDARD SOURCES OF BUSINESS FINANCING: THE EAST ASIAN APPROACH

N.G. Muminov, F.T. Egamberdiyev, B. Elmonov, T.V. Kim

Abstract


Abstract. Small business is one of the most important areas of self-reliance and raising the standard of living of the population. It is necessary to study the various experiences of the advanced countries of the world at the aim of developing small business widely and broadly. The greatest experience of China deserves to learn it in this direction. The issues of support and financing of small business and private entrepreneurship are covered in the works of many scientists in scientific and economic literature. The place and role of small business in the economic development of China is the object of study of many scientific works of our time. Nowadays, there is no clear methodology for assessing the system of economic relations, taking into account the social component in the process of its transformation. The state in every possible way supports small business realizing that the increase in employment of the population has a beneficial effect on the standard of living and relieves social tensions in society. The article carefully examines the economic category of Huaqiao as a social phenomenon between relatives, but gives a powerful impetus to business development in the end. An important feature of East Asian entrepreneurship, and Chinese methods in particular way are the most nepotism of business, as well as, the transfer of control by inheritance, as a rule, from father to son, and at all levels, from small business to major corporations. Economic efficiency of business contacts of the Chinese is very high. In many ways, production of many types of products was established, market management
methods were mastered, and lifestyles changed in China. Close mutually beneficial cooperation, played a huge role in the entry of the PRC into the global and regional market.
Keywords: huaqiao, ethnic Chinese, foreign (Chinese) diasporas, compatriots abroad.


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