market in exchange for transferring

Starting in the 1980s, German carmakers were among the first foreign companies to gain a foothold in China. The operating principle was the joint venture, which was a perquisite for foreign automotive companies to gain access to the growing Chinese market in exchange for transferring technology and knowledge. Hailed as a massive success for both sides, the idea emerged of cooperation that knows only winners and no losers. German automobile manufacturers and suppliers have since established more than 350 sites in China. But the rapid growth in Chinese GDP and market sales concealed the structural challenges to the German position. Chinese joint venture partners absorbed know-how, and China’s automobile production matured rapidly in the 1990s with increasing localisation of component production. In 1992, China’s annual car-making capacity exceeded 1 million สล็อตเว็บตรง