Blueprint for a new world trade order

Japanese automobile giant Toyota is a latecomer to the China market, having entered it in 2000, compared to Germany's Volkswagen and US-based General Motors that entered China through local joint ventures in the 1980s and 1990s.

Early entry into the Chinese market, the world's largest producer and consumer in various fields, later proved to be a solid foundation for future development for VW and GM.

Their good performance in China in recent years suggests it may be a wise idea for foreign companies to enter and team up with Chinese companies as early as possible, to grab as much market share as possible, both in China and markets elsewhere, particularly in the wake of launch of the Belt and Road Initiative.