International Business VS. Domestic Business
International Business
Trade that takes place between two countries internationally.
Domestic Business
Trade that takes place within geographical boundaries
Many Restrictions
Few Restrictions
Huge Capital Investments
Less Capital Investment
Single Currency
Customers are heterogeneous
Multiple Currencies
Customers are homogeneous
China
Main language: Mandarin
USA
Main language: English
Price is accepted as is
Price is negotiated
Constitutional Federal Repbulic
Communist Party-led State
Elders are treated as another member of the family. (Culture)
Elders are treated with the highest amount of respect and dignity. (Culture)
Social Media is not checked as much. (WeChat is their Facebook to us)
Social Media is used more and not the same main site (Facebook).
Collectivism or group focus is more important in this culture.
Individualism or peoples own personal goals are more important than ones of a whole group.