Chinese market Essay Example | Topics and Well Written Essays - 6750 words

Chinese market - Essay Example The paper describes four subjects which are the basis to validate the hypotheses of this thesis. The subjects are technology, cultural analysis, international market entrance strategies, and the development of foreign investment in China. The technology subject shows how technology has influenced economic markets worldwide during the last century. Through a systematic historical perspective the literature review illustrates how technology has influenced all economic systems worldwide and how the factor breaks national barriers. The cultural analysis section describes the elements of Hofstede cultural dimension model and provides examples of its application. Three different market entrance strategies are described with examples of its usage. The fourth subject shows a historical overview of foreign investment in the target market, China, to illustrate its evolution and inevitable transformation towards an open market. The evolution of the economic systems and the international markets has been impacted by a key variable which transcends national boundaries. This key factor is called technology. Technology is defined as the application of scientific knowledge in industry or business. During the 20th century technology has been a determining factor that has transformed the way nations perform business. During the industrial revolution technological advances help increase the overall worldwide output of goods. All industrialized nations benefited from the application of technology such as massive machinery in their production generation activities.