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The Impact of Economic Globalisation on COFCO. ... COFCO benefit from economic
globalisation and suffer its impact at the same time. ...
... 5 5.3.2 Domestic competition 6 6. CONCLUSIONS 6 7. RECOMMENDATIONS 6 8. REFERENCES
7 The Impact of Economic Globalisation on COFCO 1. Introduction In November ...
Submitted by zqhslzjl on July 22, 2006
Category: Business
Words: 2696 | Pages: 11
Views: 188
Popularity Rank: 55,923
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1. Introduction
In November 2001, China became a formal member of the World Trade Organization (WTO), which symbolised China¡¯s involvement in economic globalisation. Great opportunities and challenges would bring a big change in China. As a state agriculture enterprise, Chinese Oils and Foodstuffs Corporation (COFCO) is undoubtedly confronted with the impact of economic globalisation. The purpose of the report is to discuss the opportunities and challenges of China national cereals and COFCO under the impact of economic globalisation, and how to make a new development.
2. Background
Globalisation is an interaction and integration progress, which is among the people, companies, and governments of different nations. It is driven by international trade and investment and aided by information technology. Globalisation has impacted on the environment, on culture, on political systems, on economic, and on societies around the world (CSIS, 2006).
2.1 Economic globalisation is unavoidable.
Economic globalisation characterizes today's world economic environment. There are two major factors. First, economic globalisation has been promoted by the need for worldwide industrial restructuring. It has promoted the new emerging market economies highly and has helped the process of industrial restructuring with their new productive capabilities, especially in Asia. The second, the international capital generated from industrial production and commercial circulation becomes available. In addition, economic globalisation has been expediting by a different kind of capital which represented by various investment funds has eagerly been invested into areas where it can generate the most profit (Tong, 2006).
2.2 Globalisation and China
As one of the fastest growing economies, China has devoted herself into the economic globalisation process. And economic globalisation has brought several opportunities to China¡¯s market. First, foreign...
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