China with the world's largest population is also the world's largest market. ... It can take a long time for a foreign firm to gain the trust of local customers; this be expedited by creating a joint venture with a firm that has already established a relationship with local customers and suppliers. ... This not only guarantees employees' loyalty to the company, which creates mutual trust, but also helps to keep harmony. Establishing a joint venture helps a foreign company take advantage of the relationships that a local company has already created, whereas setting up a new comp...

• Word Count: 3326
• Approx Pages: 13
• Has Bibliography
• Grade Level: Undergraduate