Krylova. Week 2 Progress. Team 7. The U.S. setting up o

Added on - 17 Oct 2019

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KrylovaWeek 2 ProgressTeam 7The U.S. setting up of the Terminal High Altitude Area Defense system in South Koreahas indeed angered China and it has embarked on an economic war against them. Chinesecitizens have begun boycotting South Korean businesses, opposed tourism and even denied entryto a famous K-pop group. Chinese government controlled media has only fueled this even moreby applauding the protests. This would certainly hurt South Korea since “China is Seoul's largesttrading partner, receivingone-quarterof South Korea's exports.” One Korean conglomerate thatgave up land for the THAAD system has been especially targeted, and 23 Lotte Mart stores inChina are being shut down left and right. Chinese companies have also gotten behind theChinese government and denied several services to Lotte industries around China. Also, a $2.6billion theme-park project in northeastern China” was also suspiciously suspended under safetycharges. In total, Lotte has invested $9 billion on the Chinese market over the years. The drasticmeasure the Chinese government took against the Lotte Conglomerate almost right away shouldbe very intimidating to any business seeking ventures in China. The Chinese governmentoutright temporarily ignored 26,000 jobs and still had the support of its people. Such agovernance is very authoritative since at its very basis it is a communist entity. The politicians inChina know how to control the people and how to twist their views. A business depends on theconsumer, and if government controls the consumer one’s true focus should be the puppeteer. Ifthe government doesn’t like the company, it is impossible to make business there. Makingbusiness in a country with such a government and a people with such nationalistic feelings isdangerous and it is an issue in management to take such a risk into going into a market such as
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