The Role of Multinational Enterprises in Promoting China's Economic Development in People-to-people Diplomacy

Abstract

Abstract: Over the past decade, there has been a growing narrative surrounding China's economic rise, driven by the nation's increasing economic influence, expansion of financial resources, and a surge in foreign direct investments. This has rendered the examination of China's economic trajectory a critical area of study. Multinational corporations, which are integral to the market economy, have been instrumental in fueling the economic expansion of China. Utilizing a combination of literature analysis and case studies, this paper delves into the pivotal contributions of these enterprises in fostering China's economic progress through grassroots diplomatic initiatives. Coca-Cola China exemplifies how multinationals, via deliberate people-to-people diplomacy, have significantly bolstered China's economy while also securing mutual gains. These findings underscore the significance of monitoring the evolving role of multinational firms in the global business landscape, which is increasingly vital for mutual prosperity and the enhancement of worldwide economic growth through equitable and reciprocal partnerships.