1. When did the People’s Republic of China open to foreign investments? a. _____ In the late 1960s b. _____In the late 1970s c. _____In the late 1980s d. _____In the late 1990s

2. True or False ______The percentage increase in U.S. exports to China outpaced U.S. exports to the rest of the world during 2000-2011.

3. How did Best Buy enter China in 2006? a. _____By opening franchise stores with Chinese owners b. _____By negotiating a government contract c. _____By making a greenfield investment d. _____By acquiring a majority interest in an existing company

4. Best Buy had several challenges in China. Select all that apply. a. _____The Chinese thought Best Buy was a cheap brand name b. _____Consumers were only willing to pay higher prices for brands like Apple. c. _____Piracy in China reduces the demand for electronics at competitive prices. d. _____The Chinese do not want to shop at huge mega-stores. e. _____Chinese consumers have no pent-up demand for the types of products Best Buy sells. f. _____Most Chinese consumers buy their electronics online.