Strategic Compensation: A Human Resource Management Approach, 9/e

Asia

1. 5 For Asia (India and the People’s Republic of China), summarize key facts about wage and salary, paid time-off benefits, and protection programs.

In 2015, China was the largest economy in Asia, followed by India and Japan.⁴¹ Asia has several trade blocs, including Asia-Pacific Economic Cooperation, Asia-Europe Economic Meeting, Association of Southeast Asian Nations, and South Asian Association for Regional Cooperation. Given the wide variation and diversity in the world’s largest and most populous continent, however, there is no unifying economic body like the EU or NAFTA that represents all the countries of Asia. This section will examine a representative sample of the relatively more developed and developing economies in Asia: India ...