Cross-cultural Connectivity China - Central and Eastern Europe: Business Opportunities and Challenges Cover Image

Междукултурната свързаност Китай - Централна и Източна Европа: възможности и предизвикателства пред бизнеса
Cross-cultural Connectivity China - Central and Eastern Europe: Business Opportunities and Challenges

Author(s): Bistra Vassileva, Plamena Palamarova
Subject(s): Politics / Political Sciences, Social Sciences, Economy, Business Economy / Management, Economic development, Globalization, Geopolitics
Published by: Великотърновски университет „Св. св. Кирил и Методий”
Keywords: globalization; cross-cultural communications; global-local branding; China

Summary/Abstract: Globalization is signified as a quintessence of the last decade of the 20th century. Its effect on international trade is outstanding since the globalization contributes a great deal to the international markets interconnectedness. The shifting balance of power on the global markets has been indicated as a transition from Globalization 2.0 (Western dominated) to Globalization 3.0 (China-dominated). This paper deals with the issues of cross-cultural communication and global-local branding paradigm as a key aspect of cross-cultural connectivity China-CEE. Global positions of China as a part of BRIC countries are analyzed in terms of level of globalization using KOF index of globalization. Cultural profile of China is compared to the profiles of CEE and Balkan countries through Hofstede determinants. Several conclusions about business challenges and opportunities for CEE companies on Chinese market are drawn.