Part 1/9:
A Glimpse into China’s Economic Transformation and the Challenges Facing Volkswagen
The economic landscape of China in 1983 stands in stark contrast to its robust presence on the global stage today. Back then, the country was impoverished, with a GDP per capita of merely $32, ranking it 161st in the world. This economic backdrop made China an unattractive market for multinational corporations. Despite having a massive population, the absence of diplomatic and economic engagement with Western nations left China almost completely closed off to foreign investment and auto manufacturers.