ABSTRACT
Beginning in the 1980s a number of national economies moved from impoverished or lesser-developed status to being relabeled as emerging economies. Four of these economies became known as the BRIC countries—Brazil, Russia, India, and China—due to their tremendous growth rates. Out of the BRIC Countries, China is the most important to world trade from demographic and economic perspectives. This chapter will focus on doing business in the People’s Republic of China (PRC or China); more specifically, the focus will be on Mainland China, although doing business in Hong Kong will also be briefly discussed. In more recent times, South Africa and, to a lesser extent, Turkey have been recognized as BRIC-like countries. The diminishment of the Russian economy beginning in 2014 will be analyzed in Chapter 20’s coverage of “Foreign Direct Investment (FDI).”
