3. Many international trade and development experts argue that China is just now discovering the difference between
Question:
3. Many international trade and development experts argue that China is just now discovering the difference between being a major economic player in global business and its previous peripheral role as a low-cost manufacturing site on the periphery of the world economy. What do you think?Mattel was forced to deliver a humiliating public apol- ogy to 'the Chinese people' on Friday over the damag- ing succession of product recalls of China-made toys that the US toy maker has announced in recent months. In a carefully stage-managed meeting in Beijing with a senior Chinese official, which, unusually, was open to the media, Thomas Debrowski, Mattel's executive vice-president for worldwide operations, read out a prepared text that played down the role of Chinese factories in the recalls. "Mattel takes full responsibility for these recalls and apologises personally to you, the Chinese people, and all of our customers who received the toys," Mr Debrowski said. The apology was in stark contrast to recent comments from Robert Eckert, Mattel's chief executive. In testimony to the US Senate last week, he suggested that the fault for the group's recent prod- uct recalls lay with outside contractors. "We were let down, and so we let you down," he said. -"Mattel in Apology to Chinese," Financial Times, September 22, 2007, p. 15.
Step by Step Answer:
Fundamentals Of Multinational Finance
ISBN: 9780321541642
3rd Edition
Authors: Michael H. Moffett, Arthur I. Stonehill, David K. Eiteman