Challenges In International Trading Practices of Select Business in Hubei China: Basis for Enhancing Internationally Based Trading Strategies

Abstract

The cultural and trade exchanges between China and Southeast Asian countries have been very close and frequent since ancient times. As early as the early 1980s, China reached a consensus on economic and trade cooperation with Southeast Asian countries, so the economic, trade, and cultural development of both sides have achieved rapid growth. After the formal establishment of the China-ASEAN Free Trade Area (CAFTA), the two sides formally established the "strategic cooperative partnership" and opened the cooperation and development between China and Southeast Asian countries. The two sides have made great breakthroughs in many fields, especially in trade, finance, culture, science and technology, investment, and other fields. While China is being considered a global distributor and trader, not all businesses are operating internationally or doing business outside borders. How businesses expand their operation is an interesting endeavor since the challenges faced by these businesses are also on a different level. Coping with international and global challenges has been a serious matter for businesses doing international trading. Rationalizing the export, import, and investment practices of the select businesses may provide significant insights into doing international trading. Likewise, identifying the factors affecting trade and determining its influence is vital for international trade.