吉利收购沃尔沃的战略分析.pdf

VOLVO AND GEELY MERGE AND ACQUISITION. CASE STUDY REPORT. INTERNATIONAL BUSINESS ADMINISTRATION DR. RODERICK BUGADOR J INA-- 201730113 JOSÉ SÁNCHEZ – 201830255 VOLVO AND GEELY MERGE AND ACQUISITION – 2018 Host and Home Country Background China background Since the late 1970s, China has shifted from a closed central planning system to a more market-oriented system and has played an important role in the world. In 2010, China became the worlds largest exporter. The was done by including gradual price liberalization, fiscal decentralization, increased ownership of state-owned enterprises, creating a diversified banking system, the development of the stock market, the rapid growth of the private sector, and opening up to the outside world trade and investment. China implements reforms in a gradual manner. In recent years, China has renewed its support for state-owned enterprises in sectors that they believe are critical to “economic security” and clearly hopes to cultivate a national champion with global competitiveness. We can see more information in figure 1. After years of close ties between the Yuan and the U.S. dollar, in 2005 China revalued the Yuan against the U.S. dollar. From 2005 to 2008, the Yuan appreciate against the US dollar, but from the global financial crisis to 2010, China allowed the gradual exchange rate to be restored, and the exchange rate was almost fixed to the US dollar. Since 1978, economic restructuring and the increase in efficiency have contributed to more than 10 times GDP growth. Based on the PPP, China became the world’s, after the United States, second largest economy in 2012. However, per capita income is lower than the world average. The Chinese government faces many economic chall