Transcript
International Marketing Daniel Chuah | 14833837
Table of Contents
1.0 Executive Summary………………………………………………………………………….2
2.0 Introduction…………………………………………………………………………………..3
3.0 Screening……………………………………………………………………………………...4
4.0 China: Country Profile………………………………………………………………………4
4.1 Political Structure, Stability and Risks………………………………………………4-
5
4.2 China’s GDP and Consumer
Spending………………………………………………...5
4.3 Foreign Trade………………………………………………………………………….5
4.4 Tax Policy Risk………………………………………………………………………..5
4.5 Infrastructure
Risk……………………………………………………………………..6
5.0 India: Country
Profile………………………………………………………………………..6
5.1 Political Structure, Stability and Risks………………………………………………6-
7
5.2 India’s GDP and Consumer Spending…………………………………………………
7
5.3 Foreign Trade………………………………………………………………………….7
5.4 Tax Policy Risk……………………………………………………………………...7-
8
5.5 Infrastructure
Risk……………………………………………………………………..8
6.0 China and India: Hofstede Cultural
Dimensions…………………………………………...8
6.1 Power Distance……………………………………………………………………...8-9
6.2 Individualism………………………………………………………………………9-10
6.3 Pragmatism…………………………………………………………………………..10
7.0 Selection………………………………………………………………………………….10-12
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8.0 Recommendations…………………………………………………………………………..12
8.1 Market Entry Mode…………………………………………………………………..12
8.2 Target Market…………………………………………….………………………12-13
8.3 Positioning and Customization of product/ promotion…………………………….…
13
9.0 References……………………………………………………………………………….......14
10.0 Appendices………………………………………………………………………..…15-20
1.0 Executive Summary
The purpose of this report is to analyze and discuss the potential entrances of Hubbard
Foods Ltd into an international market. The two countries that will be analyzed are India and
China. This report will contain data of the GDP growth, economic and political stability,
consumer spending power, and tax policy and infrastructure risk. These two nations will then be
assessed and a thorough consideration will be done to come to a selection process. Hubbard
Foods Ltd aims to create a global presence among these two nations through precise strategic
planning and evaluation of economic, political, legal, cultural, security and infrastructure. The
initial step of this process is to expand one of its product range called Hubbard Light & Right
cereal over one of these two nations concerning the ideal market to enter.
Hubbard Food Ltd believes that its cereal product range can deliver value and change the
habits of consumption in these two nations. Effective thorough research, branding, advertising
and distribution must be considered when expanding internationally. Advertising components
must be aligned to its international markets culture, trend, standards and food safety check. With
the strong financial background experienced with Hubbard Foods Ltd, there is a strong potential
that this brand can be a success in the overseas market. However, there are many setbacks and
obstacles that must be accomplished when expanding internationally such as trade barriers, high
taxation costs, corruption, inflation rates and other factors.
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Note: All figures within this plan are in U.S. dollar, and reflect the currency exchange rate of $1
USD = 6.14 Chinese Yuan and $1 USD = 60.83 Indian Rupee.
2.0 Introduction
Hubbard Foods Ltd was founded way back in 1990 by Dick and Diana Hubbard. In 1987,
standing on a rock in the middle of the Central Park, Dick Hubbard announces to the world, well,
Diana (aka Mrs Hubbard), his plan to start creating cereals that would make New Zealand proud
and healthier at the same time (Hubbards, 2013). The company started out in 1989 as “Winner
Foods”, but after 2 years, Dick Hubbard decided it would be best to put his family name to the
company. Hubbard Foods Ltd is now a New Zealand manufacturer of breakfast cereals based in
Auckland. In the year 2002, Light & Right cereals product range was born.
The New Zealand Institute of Food Science & Technology INC (NZIFST) stated that
Hubbards cereals have become a part of Kiwi culture (n.d.). These days, Hubbard Foods has a
turnover of $38 million, employs around 130 people, and is looking at the possibility of
exporting the Hubbards brand overseas (NZIFST, n.d.). The company has an amazing range of
product offering that includes 6 different types such as the Muesli range, Light & Right range,
Thank Goodness Gluten Free range, Kids range, and Bran range. Hubbard Food Ltd generally
serve to provide a wide range of products based on consumers’ needs and wants.
Furthermore, Hubbard Food Ltd has several positive features that enables them to
position themselves apart from its competitors in New Zealand. Firstly, Hubbard Foods Ltd
makes natural, healthy, nutritious, delicious and sustainable food that is good for its consumers.
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As all those chefs on the telly say, “Words can’t describe food that’s been made with passion and
love’ (Hubbards, 2013). Secondly, the company is owned by the Hubbards family, solely owning
the intellectual property it gives a greater ability to react to the consumer taste and enabling them
to position its products towards a higher end. This means that the brand has no other involvement
of third party network, which enables greater pricing flexibility and control.
Currently, the company sells its cereal in New Zealand and exports to the United
Kingdom, Asia, and Australia. This goes to show that the company has the ability to expand their
opportunities in the overseas market with the experience that they had. Thirdly, the founder and
CEO, Dick Hubbard has been well-known for its contributions and social responsibility in New
Zealand for a number of years. This has earned the recognition and credibility of a good positive
reputation for the company.
3.0 Screening
In this section of the report, we will determine which market is more attractive by
utilizing the Trading Economics website, Euromonitor International, The Hofstede Centre, and
other variation to conclude this report. Hubbard Foods Ltd has chosen specifically 2 countries to
expand internationally. The two countries are China and India. This section will discussed
further into the selection of in-depth screening criteria. Several parts of the criteria will involve
macro level indicators such as country’s political stability, geographic / cultural distance and
economic development. This in-depth screening criteria will then justify as to why India or
China is Hubbard Foods Ltd ideal choice for an international expansion.
4.0 China: Country Profile
China occupies the entire 5,000-km spread from the Sea of Japan and the East China Sea
in the east, to the Afghan border in the west, China has one of the longest international
boundaries in the world (Euromonitor International, 2014). The capital of China is Beijing. The
ruling party of China is the Chinese Communist Party. In November 2012, Xi Jinping was
elected President. The biggest regional risk is arising from the fast growth of capital outflow
from China, some of which is carry on to corruption.
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According to Trading Economics (2014) it shows food inflation in China decreased to 3
percent in August of 2014 from 3.60 percent in July of 2014. Food inflation in China averaged
6.55 percent from 1993 until 2014, reaching an all-time high of 40.20 percent in October of 1994
and a record low of -5.50 percent in April of 1999 (Trading Economics, 2014). (Appendix 1)
4.1 Political Structure, Stability and Risks
All legislative authority is vested in the 2,989-member National People’s Congress,
which is elected every five years (Euromonitor International, 2014). The Congress however
meets only once a year and political decisions are mostly made by the Communist Party. It is
said to be that China’s pension system is chaotic and the locals are very unhappy with the
situation that they are stuck in. The living standards and income gap between urban and rural
inhabitants will continue
to distant from one another. Government must find a solution fast before this turns into a huge
crisis such as the Europe crisis. By 2015, the country will have over 149 million people over the
age of 65, up from just 46 million in 1980 (Euromonitor International, 2014).
4.2 China’s GDP and Consumer Spending
Trading Economics (2014) stated that China’s Gross Domestic Product (GDP) was worth
9240.27 billion US dollars in 2013. (Appendix 2) The GDP value of China represents 14.90
percent of the world economy (Trading Economics, 2014). This goes to show that the China
economy is highly dependable by the world trading and businesses. Not only that, China’s
consumer spending has also vastly increased. Consumer spending in China increased to
212187.50 CNY HML in 2013 from 190423.80 CNY HML in 2012 (Trading Economics, 2014).
(Appendix 3) China is also one of the top 10 largest economies by GDP in purchasing power
parity (PPP). Forecast has stated that by year 2020, China will overtake all countries and become
the world’s largest economy. (Appendix 4) This goes to show that China’s consumer has a very
high purchasing power over other countries in general.
4.3 Foreign Trade
Exports (in dollar terms) grew by 7.8% in 2013 (Euromonitor International, 2014).
Following accession to the World Trade Organisation (WTO), China will automatically get full
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market economy status by 2016 (Euromonitor International, 2014). This will help to boost
China’s economy more and gain additional foreign investors investing into China. Research has
stated that China will be the biggest economy in the world and through this, China will be a fast
booming economy. With this, more foreign investors will be investing heavily to the economy
making it an attractive country to invest in. (Appendix 5)
4.4 Tax Policy Risk
The tax burden in China is perceived to be a burden. Taxes in China is said to be
gradually increasing. The corporate tax rates for domestic and foreign enterprises are now the
same, and it is becoming tougher for investments to gain access to tax relief (China: Risk ratings,
2011). However, China’s economy is booming quickly even with the burden on taxes. Foreign
companies are willing to pay the high amount of taxes because they are able to capture a bigger
market in China thus, profiting more.
4.5 Infrastructure Risk
Infrastructure has been vastly improved in the recent years due to the government
spending in building better transportation systems and top engineering road projects. This has
provided better services and ease of comfort for foreign investors to set up companies in China.
Meanwhile, a new high-speed rail network is emerging, though freight lines need more
investment (China: Risk ratings, 2011). Mobile tele-coms are widespread, while Internet
penetration (including broadband) is relatively high for a developing nation and is still growing
rapidly (China: Risk ratings, 2011).
5.0 India: Country Profile
India occupies the central northern coast of the Indian Ocean, where it is bounded in the
west by Pakistan, in the north by Tibet (a region of China), Bhutan and Nepal, and in the east by
Myanmar and Bangladesh (Euromonitor International, 2014). Spanning the equator, its climate is
tropical and occasionally prone to violent storms (Euromonitor International, 2014). The capital
of India is New Delhi. The current President of India is Narendra Modi and the ruling party for it
is The Bharatiya Janata party. Although India is trying to position itself as another emerging
market success story to rival China, it faces external security risks and internal divisions in the
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form of terrorist threats, insurrection movements, and state-level disputes that are largely absent
from China (Political & Economic Risk Consultancy Ltd, 2010). Transportation of goods will
also be a main risk as there are stories that have been told of theft and robbery on the highway
and streets of India. This will mean that there will be a need for investment in the protection of
goods travelling back and forth from its suppliers to the supermarkets.
According to Euromonitor International (2014), food inflation in India remained
unchanged at 9.16 percent in August of 2014 from 9.16 percent in July of 2014. Food inflation in
India averaged 10.57 Percent from 2012 until 2014, reaching an all time high of 14.72 Percent in
November of 2013 and a record low of 4.11 Percent in January of 2012. (Appendix 6)
5.1 Political Structure, Stability and Risks
India has a diverse and large number of ethnic groups with India being a federation for 28
states and seven union territories. The President holds all the power and appoints the Prime
Minister and his cabinet on the number of vote results to the Parliament. In the eastern part of the
country, there is a Maoist insurgency while more than a dozen rebel groups have been fighting to
wrest Kashmir from India (Euromonitor International, 2014). According to Euromonitor
International (2014), Kashmiri militants have repeatedly targeted India’s cities.
5.2 India’s GDP and Consumer Spending
The Gross Domestic Product (GDP) in India was worth 1876.80 billion US dollars in
2013 (Trading Economics, 2014). The GDP value of India represents 3.03 percent of the world
economy (Trading Economics, 2014). This made India ranked 8 in the world economy and it is
one of the world’s biggest economy. (Appendix 7) GDP in India averaged 517.27 USD Billion
from 1970 until 2013, reaching an all time high of 1876.80 USD Billion in 2013 and a record
low of 63.50 USD Billion in 1970 (Trading Economics, 2014). However, consumer spending in
India has been a decline as compared to the year 2013. According to Trading Economics (2014),
consumer spending in India decreased to 9784.52 INR Billion in the first quarter of 2014 from
9833.86 INR Billion in the fourth quarter of 2013. (Appendix 8) Although India does not have a
comparatively high GDP as compared to China, it has somehow managed to become world’s
third biggest economy in terms of purchasing power parity (PPP). According to The Economic
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Times (2014), India has displaced Japan to become world’s third biggest economy in terms of
purchasing power parity (PPP).
5.3 Foreign Trade
India has a very large domestic market making them less dependent as compared to most
Asian countries. (Appendix 9) Trade barriers have been reduced since the country joined the
World Trade Organization (WTO) but import tariffs are still high (Euromonitor International,
2014). The World Trade Organization as investors has come to know is an organization that
would help ease up international trade barriers and encouraging the country’s economy to be
more globalized. In addition, India has concluded free trade agreement with Malaysia, Singapore
and Japan. This agreement will help to boost the current economy of India greatly.
5.4 Tax Policy Risk
Tax policy in India is in a moderation level. India’s tax system is susceptible to tax
evasion, and the underground economy is estimated to be around half the size of the official
economy (India: Risk ratings, 2007). Many local and foreign investors are escaping tax because
it is made possible for them. This makes the rich get richer and the poor get poorer. The budget
reduced corporate taxes and locally incorporated subsidiaries of foreign companies are now
taxed at just under 33 percent and are entitled to incentives available to Indian companies (India:
Risk ratings, 2007).
5.5 Infrastructure Risk
India’s infrastructure is said to be very poor therefore making its risk very high. Most of
the roads and railways are rundown and transportation around India is said to be not efficient and
reliable. Despite India’s successes in information technology, computer and Internet access is not
widespread (India: Risk ratings, 2007).
6.0 China and India: Hofstede Cultural Dimensions
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If we explore China and India using the Hofstede cultural dimension data provided, we
can understand better the culture and types of consumers. This will be a good indicator as to
whom we will be selling our product to and what ticks them into purchasing Hubbard cereals.
(Appendix 10) Kotabe et al. (2014) stated that the notion of cultural complexity refers to the way
messages are communicated within a society.
6.1 Power Distance
The power distance dimension is defined as the extent to which the less powerful
members of institutions and organisations within a country expect and accept that power is
distributed unequally (The Hofstede Centre, n.d.). From the table in Appendix 10, we can see
that China’s power distance is placed at 80 whereas India is at 77. There is only a slight
difference in these two countries. Based on the score of 80 and 77, we can tell that both countries
find that power is distributed unequally and it is known to be acceptable in the eyes of society.
China in general is a society that believes that inequalities amongst people are acceptable (The
Hofstede Centre, n.d.).
China would fit closely to being a high-context culture. Nonverbal communication is
vastly used, such as implied meanings, nonverbal cues, symbols or indirect statements. They are
usually comfortable when there is a considerable amount of silence. This high context culture
comes from a long history of close families that have been practice centuries ago. There are more
hierarchical presence in China due to more exposure in the corporate culture. Individuals are
influenced by formal authority and sanctions and are in general optimistic about people’s
capacity for leadership and initiative (The Hofstede Centre, n.d.).
On the other hand, India scores 77 on this dimension, indicating an appreciation in
hierarchy like the Chinese. If one were to encapsulate the Indian attitude, one could use the
following words and phrases: dependent on the boss or the power holder for direction,
acceptance of un-equal rights between the power-privileged and those who are lesser down in the
pecking order, immediate superiors accessible but one layer above less so, paternalistic leader,
management directs, gives reason / meaning to ones work life and rewards in exchange for
loyalty from employees (The Hofstede Centre, n.d.). As we can see, both countries have similar
attributes when it comes to the power distance dimension.
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6.2 Individualism
The fundamental issue addressed by this dimension is the degree of interdependence a
society maintains among its members (The Hofstede Centre, n.d.). On the individual dimension
China scores only 20. This would tell us that China is more of a collectivist society. The
collective identity of the Chinese people is partly built upon the result of a civilization from
agriculture. Generations after generations, the successive generation of peasant farmed Chinese
community have been in the same neighborhood with the same soil from the grandparents before
them. This apparent lifestyle of theirs have been portrayed down to the way they do business.
The Chinese tend to work in teams rather than being a soloist, with tasks assigned to groups to
work upon. With this, Chinese are able to work together cohesively in the workforce and are able
to adapt to different groups of people. This may help in the working world for companies.
However, India scores higher than China for this dimension with a score of 48. Based on
that score, we can tell that India is at the middle of this dimension. India is a society which
belongs to both collectivistic and individualistic traits. The collectivist side means that there is a
high preference for belonging to a larger social framework in which individuals are expected to
act in accordance to the greater good of one’s defined in-group(s) (The Hofstede Centre, n.d.). In
such situations, the actions of the individuals are influenced by various concepts such as the
opinion of one’s family, extended family, neighbors, work group and other such wider social
networks that one has some affiliation toward (The Hofstede Centre, n.d.). The individual aspect
of the Indian society however, can be seen on the analysis of the Indian philosophy and religion.
The Hindus believe in a cycle of death and rebirth, with the manner of each rebirth being
dependent upon how the individual lived the preceding life (The Hofstede Centre, n.d.). With
this adoption of habit, Indians can work individually or as a group making them a very adaptable
person. Through this lifestyle that they have, they are better equipped and would be ready to
work in Western or Asian countries.
6.3 Pragmatism
This dimension describes how every society has to maintain some links with its own past
while dealing with the challenges of the present and future, and societies prioritize these two
existential goals differently (The Hofstede Centre, n.d.). China scores 87 in this dimension which
is fairly high which means they are a very pragmatic culture. Those with a culture which score
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high, on the other hand, take a more pragmatic approach: they encourage thrift and efforts in
modern education as a way to prepare for the future (The Hofstede Centre, n.d.). With this, the
Chinese can be educated with the health approach of breakfast cereals as a morning breakfast.
The Chinese will adopt this culture after a certain fair of time making it easier for Hubbards to
tap the Chinese market. India on the other hand scores 51 for this dimension. This indicates a
preference for a more long-term, pragmatic culture. The Indians prefer to maintain its time-
honored traditions and norms while at the same time taking a more pragmatic approach in life.
7.0 Selection
I have concluded that China is the ideal choice for Hubbard Foods Ltd to expand
internationally. Why China? As we have analyze up to now, there is a good indication that
business and growth of country’s economy in China is vast growing. Even with the backlash of
high tax policy rates, China is still a more improved country in terms of its infrastructure and
consumer spending. The GDP value of China represents 14.90 percent of the world economy as
compared to India being only 3.03 percent of the world economy. This goes to show that China’s
GDP annually is four times bigger than India. Many foreign investors are thinking of investing in
China due to its blooming economy.
In addition, charts for consumer spending in China have shown an increased to
212187.50 CNY HML in 2013 from 190423.80 CNY HML in 2012 making it double in numbers
as compared to India. No doubt, both countries have relatively high consumer spending power
but China is forecasted to be the number one largest economy in the world by the year 2020.
With this, China will also be the top largest economies by GDP in purchasing power of parity
(PPP). In return, this will make China a more globalize economy. It will also make China free
from language barriers as there will be more multinational companies investing in China. There
will be a diverse culture in the market and maybe even the most populated country in the world
by 2030. Hubbard Foods Ltd can tap early into the market marking their territory in the cereals
business before economy in China expands fully.
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Infrastructure risk for China is also less as compared to India. India’s infrastructure is
reported being very poor making it high risk. However, China’s infrastructure has been
improving due to the government’s non-neglecting attitude for its transportation systems, road
and railway projects. With this in mind, we know that it would be easier for Hubbard Foods Ltd
to transport its products across. There has also been an on-going project for high-speed rail
network in China making it one of the biggest projects in the world. This will greatly improve
the standards and well-being of transportation systems in China. This will place an ease of
comfort for foreign investors investing in China.
China’s unemployment rate as of 2010 – 2013 have been the same making it a very
steady economy with jobs opening being mostly available. (Appendix 11) India’s unemployment
rate as of 2010 – 2013 has been a slight decrease from 9.3% - 9.0%. (Appendix 12) This
indicates that China has more job opportunities as compared to India due to its lower percentage
of unemployment rate, thus foreign investment may be thriving.
Cereals market in China have also been growing making cereal foreign companies
wanting to invest in the country. The health and wellness trend, plus the convenience offered by
breakfast cereals, will continue to underpin a good performance over the forecast period, along
with higher health consciousness among Chinese consumers (Euromonitor International, 2014).
Growing interest in Western culture resulted in a growing number of Chinese consumers
inhabiting the lifestyle of Westerners in eating healthily. This demographic group has higher
disposable income and a more westernized outlook than consumers in other regions of China,
and is gradually accepting breakfast cereals (Euromonitor International, 2011).
8.0 Recommendations
With the analysis of the Chinese political, economic, social, technological, legal, cultural,
infrastructure and security, several recommendations have been establish to help Hubbard Foods
Ltd select the appropriate market entry mode, target market, positioning, and standardization vs
customization of product/promotion.
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8.1 Market Entry Mode
Through the establishment of Strategic Alliances in China, it may allow Hubbard Foods
Ltd to become more associated with the local businesses and consumers. This enables the
company to adjust easily with the new market making them better equipped and recognized. In
China, Guilin Sea Mild Biology Technology Developments leads breakfast cereals with a value
share of 19% in 2013 (Euromonitor International, 2014). If Hubbard Foods Ltd is able to
cooperate with this company, there may be opportunities for Hubbard cereals to reinvent
themselves and appeal to the Chinese community.
8.2 Target Market
Hubbard Foods Ltd can target the middle to high class income consumers in China due to
its premium product in New Zealand. Hubbard Foods Ltd must attract the Chinese with high
disposable incomes that are health conscious. Understanding what attracts these consumers in
buying the Light & Right range is crucial. Color, design, packaging, quality, customization has
to suit the Chinese consumers. Chinese consumers are very particular and sensitive to certain
types of color such as black that means death for them. With the right choice of color in its
packaging can help boost the sales of the product.
8.3 Positioning and Customization of product/promotion
As for positioning, Hubbard Foods Ltd should position their brand as prestige and
exclusive. This is because Hubbard Foods Ltd is a premium product here in New Zealand and it
has been positioned this way since the very beginning. Consumers choose Hubbard cereals over
other brands because they know that Hubbard cereals is higher in quality and tastier. Chinese
consumers with high disposable income loves spending on luxury goods that are sold by foreign
companies such as the case of designer goods. It makes them feel that they are better than rest.
The product has to be perceived as high quality and healthier as compared to other cereal brands.
Promotions are unnecessary if we were to tap into the high disposable income group of the
Chinese.
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9.0 References
Career Profiles of some Food Technologists. (n.d.). Retrieved August 30, 2014, from
http://www.nzifst.org.nz/careers/successstory3.asp
ET Bureau. (2014). India displaces Japan to become third-largest world economy in terms of
PPP: World Bank. Retrieved September 1, 2014, from
http://articles.economictimes.indiatimes.com/2014-04-30/news/49523310_1_capita-income-
third-largest-economy-world-gdp
Euromonitor International. (2011). Breakfast cereals in China: The boom continues. Retrieved
September 8, 2014, from http://www.just-food.com/analysis/the-boom-continues_id116942.aspx
Euromonitor International. (2014). Breakfast Cereals in China. Retrieved September 8, 2014,
from http://www.euromonitor.com/breakfast-cereals-in-china/report
Hubbards (http://www.hubbards.co.nz/).
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Kotabe, M., Marshall, A., Ang, S. H., Griffiths, K., Voola, R., Roberts, R. E., Helsen, K. (2014).
International Marketing (4th ed.). Milton Qld, Australia: John Wiley & Sons.
Political & Economic Risk Consultancy Ltd. (2010). Overall Country Risk Ranking. Retrieved
from http://www.asiarisk.com/exsum.pdf
ProQuest. (2011). China: Risk ratings. Retrieved from
http://search.proquest.com.ezproxy.aut.ac.nz/docview/872082298?pq-origsite=summon
ProQuest. (2011). India: Risk ratings. Retrieved from
http://search.proquest.com.ezproxy.aut.ac.nz/docview/201746187?pq-origsite=summon
Riel, B. (n.d.). The Cultural Context China. Retrieved September 3, 2014, from
http://www.international-mobility.com/uk/interculturel/china.php
10.0 Appendices
Appendix 1: China Food Inflation.
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Figure 1. China Food Inflation. Retrieved from http://www.tradingeconomics.com/china/food-
inflation. Copyright 2014 by Trading Economics. Reprinted with permission.
Appendix 2: China’s GDP in U.S. dollars.
Figure 2. China’s GDP in U.S. dollars. Retrieved from
http://www.tradingeconomics.com/china/gdp. Copyright 2014 by Trading Economics. Reprinted
with permission.
Appendix 3: China Consumer Spending.
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Figure 3. China Consumer Spending. Retrieved from
http://www.tradingeconomics.com/china/consumer-spending. Copyright 2014 by Trading
Economics. Reprinted with permission.
Appendix 4: Top 10 largest economies by GDP in PPP terms: 2010 and 2020.
Figure 4. Top 10 largest economies by GDP in PPP terms: 2010 and 2020. Retrieved from
http://blog.euromonitor.com/2010/07/special-report-top-10-largest-economies-in-2020.html.
Copyright 2010 by Euromonitor International. Reprinted with permission.
Appendix 5: Total Foreign Trade: 2006 – 2013 of China.
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Figure 5. Total Foreign Trade: 2006 - 2013. Retrieved from
http://www.portal.euromonitor.com.ezproxy.aut.ac.nz/Portal/Pages/Search/
SearchResultsList.aspx. Copyright 2014 by Euromonitor International. Reprinted with
permission.
Appendix 6: India Food Inflation.
Figure 6. India Food Inflation. Retrieved from http://www.tradingeconomics.com/india/food-
inflation. Copyright 2014 by Trading Economics. Reprinted with permission.
Appendix 7: India’s GDP in US dollar.
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Figure 7. India’s GDP in U.S. dollar. Retrieved from
http://www.tradingeconomics.com/india/food-inflation. Copyright 2014 by Trading Economics.
Reprinted with permission.
Appendix 8:
Figure 8. India Consumer Spending. Retrieved from
http://www.tradingeconomics.com/india/consumer-spending. Copyright 2014 by Trading
Economics. Reprinted with permission.
Appendix 9: Total Foreign Trade: 2006 – 2013 of India
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Figure 9. Total Foreign Trade: 2006 - 2013. Retrieved from
http://www.portal.euromonitor.com.ezproxy.aut.ac.nz/Portal/Pages/Search/
SearchResultsList.aspx. Copyright 2014 by Euromonitor International. Reprinted with
permission.
Appendix 10: Hofstede Dimension: China vs India
Figure 10. Hofstede Dimension: China vs India. Retrieved from
http://geert-hofstede.com/china.html.
Appendix 11: Unemployment rate of China.
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Figure 11. Unemployment rate of China. Retrieved from
http://www.portal.euromonitor.com.ezproxy.aut.ac.nz/Portal/Pages/Search/
SearchResultsList.aspx. Copyright 2014 by Euromonitor International. Reprinted with
permission.
Appendix 12: Unemployment rate of India.
Figure 12. Unemployment rate of India. Retrieved from
http://www.portal.euromonitor.com.ezproxy.aut.ac.nz/Portal/Pages/Search/
SearchResultsList.aspx. Copyright 2014 by Euromonitor International. Reprinted with
permission.
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