Introduction

Abstract

1.Putting China into perspective

The Chinese economy is becoming increasingly indispensable. Since the beginning of the 21st century, as international business ebbs, flows and changes directions, China’s industrial growth has been influencing the entire global economy (Meckl, 2010; Littrell, 2002; Seitz, 2000). In 2001, China replaced the United States of America (USA) as the leading recipient of foreign investment with an estimated value of 52 billion U.S. dollars (House, 2004). By the end of the year 2009, China’s passenger vehicle market surpassed that of the United States as the world’s largest auto market. Considering the facts above, the role of the Chinese market will continue to remain a major issue (Meier, 2008).