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Doing Business in PRC

Doing business in the PRC represents a vast business opportunity for our company, as well as for others. In short, there will be competition from organizations indigenous to the PRC as well as from foreign operations, such as ours. Probably the most important thing to remember is that our position will be one of "guests" while "in country" and behavior must therefore be exemplary.

The PRC has been, heretofore, a relatively closed market situation for Western products. What penetration by Western companies has occurred has met with frustration and challenges due to the large number of disconnects between the governmental infrastructure (both at the national as well as at the regional level) and the lack of structure associated with the legal system. The biggest challenge, therefore, facing anyone wishing to do business in the PRC will be that activity associated with navigating the myriad of geographic disparities and the legal structure as well as the differences (from region to region) in personal as well as business-related "disposable" income, consumer preferences, payment, and in general a lack of understanding and comprehension of the "details" associated with the way business is transacted in the West (Yuva 42).

The recent economic growth in the PRC has been fueled by the following three (3) factors. First, the central government priming of the business pump intended to accelerate economic activity associated with the development of new infrastructure and upgrading technology·especially associated with the interior of the country.

Second, the PRC, in recent years, has depended upon their vast pool of low-cost labor to perform "labor rich" production of components for the electrical machinery, equipment and power generation industries. Today, the "value" of the PRC-manufactured goods has notched up on the overall global manufacturing scale and has allowed them to transcend beyond textiles, shoes, and apparel int...

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Doing Business in PRC. (1969, December 31). In LotsofEssays.com. Retrieved 10:23, March 28, 2024, from https://www.lotsofessays.com/viewpaper/1696281.html