IKEA has opened stores in Beijing and Shanghai and hopes to capitalize on China's growing consumer economy, since the potential of China's consumer market is so vast that it is almost impossible to measure. IKEA and other global retailing giants operating in China are beneficiaries of the _____, which was established in 1989 to promote open trade and economic and technical cooperation among member nations. In addition, they are allowed to participate in a wide range of organizational activities and have become increasingly competitive regarding global business.
A) APEC
B) EU
C) NAFTA
D) ASEAN

Question

Quizplus · Accepted Answer

ASEAN (Association of Southeast Asian Nations) and NAFTA (North American Free Trade Agreement) do not include China, while the EU (European Union) is a regional organization focused on Europe. APEC (Asia-Pacific Economic Cooperation) is the most relevant organization in this context, as it includes China and aims to promote open trade and economic cooperation among member nations in the Asia-Pacific region.

IKEA Has Opened Stores in Beijing and Shanghai and Hopes