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Tesco looks to the East

Tesco has announced what could be the first in a series of joint ventures to increase the company's exposure to the Chinese market, a market which is showing significant growth even in these difficult times. The company will be involved in the building of three shopping malls in northern China which will each be anchored by a Tesco store. The idea is to build 18 so called "hypermarkets" in total which will not only increase brand awareness of Tesco in China but will increase the company's exposure to the largest market on the planet.

It is interesting to see that even in these most difficult of times the likes of Tesco are looking well into the future and increasing their exposure to overseas markets. Many believe that the UK market sector is becoming oversaturated with the likes of Tesco and Asda dominating more and more, leaving smaller companies in their wake. However, it has to be said that UK business achievements in areas such as the US and China have been mixed to say the least in recent times. Whether Tesco will be able to improve upon the reputation of UK companies in China remains to be seen.

Will the likes of Asda, Sainsbury's and Morrisons now look to build upon their own presence in overseas markets?

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