Topics: David Deangelo
For Western businesses, doing business in China requires careful navigation of the cultural differences between China and the West.
The country is the largest exporter in the world and provides many Western businesses crucial intermediate goods and services at low costs. Chinese businesses are also big importers of Western intermediate goods and services.
In 2009, the United Nations estimated the Chinese consumer market to be the fourth largest in the world. In 2010, the Boston Consulting Group (BCG) predicted that China will become the world's second largest consumer market after the U.S. by 2015.