International Business- Assignment 4
From: Nicole Ki
Date: June 26, 2014
Re: International Business- Assignment 4
1. Discuss the implications of globalization on the food industry in China. 2. What makes China so attractive to U.S. food companies? Discuss why it is important to gain 3. Reflect on the standardization versus adaptation debate as it relates to marketing fast food and processed food in China. Using the ‘4Ps’ of marketing, discuss how companies should approach the market. Which elements in the marketing mix can be standardized? Which elements must be adapted to suit local preferences? See http://www.mindtools.com/pages/article/newSTR_94.htm 4. How is Western culture influencing China’s culture? Discuss how companies
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This has played an important role in China’s economic development and export success, with foreign-invested enterprises accounting for over half of China’s imports and exports, according to the Ministry of Commerce. China’s FDI in September 2013 rose 4.9 percent from the previous year to $8.8 billion, as released in a report by the Ministry. Investment from the United States and the European Union continues to grow with an 18 percent and 4 percent jump, respectively, over the eight-month period. U.S. direct investment totaled $2.5 billion as of August 2013 and EU levels hit $5.4 billion. The growth in FDI not only demonstrates the international reliance on the Chinese economy but China’s need for it is shaping the way the economy develops. A Ministry of Commerce spokesperson has said that China is focused on the quality and structure of foreign investment rather than growth figures. One could see the opening of the new Free Trade Zone in Shanghai as both a way of ensuring Chinese competitiveness within the markets as well as encouraging FDI into the Chinese business environment.
Food and beverage scene and changing diets, foreign firms have penetrated Chinese food markets and supermarkets have risen to become the leading food retailer in urban areas, taking the place of some traditional markets. A growing range of foreign brand names and imported products can be seen lining supermarket shelves,