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 organization activities and have become increasingly competitive regarding global business.

Question

Quizplus · Accepted Answer

APEC (Asia-Pacific Economic Cooperation) was established in 1989 to promote open trade and economic and technical cooperation among member nations in the Asia-Pacific region. China is a member of APEC, and Ikea and other global retailing giants operating in China can benefit from the organization's activities, including participating in trade and investment initiatives.

Ikea Has Opened Stores in Beijing and Shanghai and Hopes