hubbards light & right

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/).

14

http://www.hubbards.co.nz/

http://www.euromonitor.com/breakfast-cereals-in-china/report

http://www.just-food.com/analysis/the-boom-continues_id116942.aspx

http://articles.economictimes.indiatimes.com/2014-04-30/news/49523310_1_capita-income-third-largest-economy-world-gdp

http://articles.economictimes.indiatimes.com/2014-04-30/news/49523310_1_capita-income-third-largest-economy-world-gdp

http://www.nzifst.org.nz/careers/successstory3.asp


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


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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http://www.international-mobility.com/uk/interculturel/china.php



http://www.asiarisk.com/exsum.pdf


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.

16

http://www.tradingeconomics.com/china/gdp

http://www.tradingeconomics.com/china/food-inflation

http://www.tradingeconomics.com/china/food-inflation


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.

17

http://blog.euromonitor.com/2010/07/special-report-top-10-largest-economies-in-2020.html

http://www.tradingeconomics.com/china/consumer-spending


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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http://www.tradingeconomics.com/india/food-inflation


http://www.portal.euromonitor.com.ezproxy.aut.ac.nz/Portal/Pages/Search/SearchResultsList.aspx



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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http://www.tradingeconomics.com/india/consumer-spending



Figure 9. Total Foreign Trade: 2006 - 2013. Retrieved from



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.

20

http://geert-hofstede.com/china.html




Figure 11. Unemployment rate of China. Retrieved from



permission.

Appendix 12: Unemployment rate of India.

Figure 12. Unemployment rate of India. Retrieved from



permission.

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