internationalization of chinese baby stroller
TRANSCRIPT
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ACKNOWLEDGEMENT
In preparation of this report, which is entitled Internationalization & Innovation,
there are several issues that I have encountered such as limitations on information and lack of
resources. However, I am very thankful to Allah, my own beloved parents, family members
and friends for their constant encouraement without which this assinment would not be
possible to finish.
!urthermore, with a help from my own wise lecturer, "ir Ammar Amierul and my
fellow colleaues, I have manaed to overcome the problems easily. #hus, I would like to
take this opportunity to e$press my profound ratitude and deep reards to my lecturer, for
his e$emplary uidance, monitorin and constant encouraement throuhout the course of
this report. %esides that, I would also like to take this opportunity to e$press a deep sense of
ratitude to my fellow classmates for their cordial support, valuable information and
uidance, which helped me in completin this task throuh various staes.
#hese people have helped me to et throuh a lot of barriers and without them this
proect could not have reached this stae. Hence, once aain I would like to thank all of them
very much for their full support.
Table of Content
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Content Page
Introduction '
(.) Internationalization of a *hinese +born local brand in a forein sector-
the case study of ood%aby
(./ oodbaby- History, brands, and main achievements
(.( A competitive analysis of the baby strollers sector in *hina
(.0 Interviews with customers
(.' !indin
(.1 !uture 2esearch
(.3 *omments
4
4
//
/0
/0
/'
/'
0.) reen rowth and technoloical innovation- A case for "outh Asian
countries
0./ #echnoloical innovations and Intellectual 5roperty 2iht
0.( #echnoloical innovations and 2esearch and 6evelopment
7$penditure
0.0 #echnoloical innovations and reen #a$es
0.' !indin
0.3 *omments
'.) Interation of Ideas- #echnoloical Innovations and Internationalization
/1
/1
/3
/4
/8
/9
()
1.) *onclusion (/
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2eferences
((
1.0 Introducton
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TITLE
Internationalization of
a *hinese :%orn local: %rand
in a !orein
"ector- #he case study of
ood%aby.
reen rowth and
#echnoloical Innovation-
A case for "outh Asian
countries.
A!T"O#
!rancesca *hecchinato, ;ala
Hu, Alessandra 5erri & #iziano
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market
2@(- In order to compete with
international brands in the local
market, do the features of
lobal brands affect *hinese
brands :oin lobal:
strateies
2@(- Are 2esearch and
6evelopment >2&6?
7$penditures continued to
demonstrate an increasinly
sinificant role in patentin of
reen technoloies
2@0- 6oes environmental
ta$ation plays a fundamental
role in introducin and
developin the innovative
reen technoloies
#E'EA#C"
MET"ODOLOG$
=i$ed =ethod
/. !irst phase-
Analyzin oodbaby
companys profile, history, and
internationalization activities
by usin first and secondary
data.
(. "econd phase-
=ade a competitive analysis of
the strollers brands in the
*hinese market in
order to have an overview of
the sector, demonstrate the
internationalization
characters of the brand, anddefine its positionin.
0. #hird phase-
5reparin and administerin a
multiple choice Buestionnaire
for consumers to
analyze oodbabys brand
awareness and purchase rate,
as well as the product
@ualitative =ethod
%y usin secondary sources,
the information has been
collected from all the related
oranizations in "outh Asia,
which are directly or indirectly
related to the reen rowth
developmental aenda induced
by I52s, 2&6, and
7nvironmental #a$ation.
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variables and influencers role
in the strollers purchase.
)A#IA&LE'+DIMEN'ION'
/. @uantitative
6ependent variable-
"trollers purchase
Independent variable-
%rand awareness, purchase
rate, products variable &influencer role.
(. @ualitative
i. oodbaby marketin and
brandin strateies.
ii. lobal brand features in
affectin oodbaby +oin
lobal strateies.
/. Intellectual 5roperty 2iht
I52s increase the
awareness and
knowlede, and then
are able to promote the
technoloical
innovation.
(. 2esearch and 6evelopment
7$penditure
2esearch and
development introduce
the new knowlede ofproduction and the
method of technoloical
chane.
0. 7nvironmental #a$ation
7nvironmental ta$es are
the vital policyinstruments to decrease
the environmental
damaes.
lobalization toether with the reduction in trade barriers and tariff provide the
opportunity for business firms to e$pand their business into forein markets, even on the first
day of its establishment. 6ue to this phenomena, business firms rapidly e$pand their business
by penetrate into new markets abroad. #he term internationalization is used to define such
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activity that could be seen in the business world today. #here are various definitions of
internationalization were bein used by researches and it varies dependin on the interest and
phenomenon of the study. Cne of the most applied theories of market internationalization is
represented by the internalization theory of %uckley and *asson >/943?, which conceives the
firm as an internalized bundle of resources. #hese resources can be allocated between product
roups, and between national markets, reducin transaction costs and ma$imizin profits.
6unnin >/988? identified three necessary conditions for firms to be willin to
undertake investments abroad- the ownership advantae >derived from e$tendin the e$istin
proprietary assets abroad, such as brands and proprietary technoloies?, the location
advantae >resultin from the forein countrys superior market or production opportunities
in terms of costs?, and the internalization advantae >maintainin the core competences of the
firm within the firms boundaries?. #hese advantaes constitute the :C;I framework: or
:eclectic paradim: of international production.
!urthermore, business firm needs to develop their own new innovation to stay
compete in the real business world. Innovation could be defined as, a new idea, device or
process. Innovation can be viewed as the application of better solutions that meet new
reBuirements and market needs. #his is accomplished throuh more effective products,
processes, services, technoloies, or ideas that are readily available to markets, overnments
and society. #he term innovation can be defined as somethin oriinal and, as a conseBuence,
new, that :breaks into: the market or society. In other words, innovation is the process of
translatin an idea or invention into a oods or services that creates value or for which
customers will pay.
%y the end of the /99)s, there has been a sinificant worldwide increase in
technoloical innovation, spurred on by a number of factors, but mostly the ease at which
information has been made available due to advances in the internet. Access to technoloy is
ust as important as the invention aspect of innovation for all the countries to develop and
row. 6evelopin countries often face a multitude of issues, therefore, diffusion of reen
technoloies is especially important for addressin lobal environmental issues >Dorld %ank,
()/(? and the most effective and efficient solution is to turn towards technoloical
innovation. #here is a dire need to foster the technoloical innovation in developin countries
that will facilitate the transition to less carbon intensive economies to address the reen
rowth.
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In this report, we shall discuss on the topic of the importance of innovation towards
*hinese firm as a vessels to internationalize their business throuh certain effective and
efficient strateies.
,.0 Internatonal-aton of a Cne/e born glocal brand n a foregn /ector2 te ca/e
/tud3 of Good&ab3
,.1 Goodbab32 "/tor34 brand/4 and 5an ace6e5ent/
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#he foundation of oodbaby *ompany starts in the year of /989 by "on
Ehenhuan in which he desined a childrenFs :push and rock: stroller and launched
:oodbaby: >::, pronounced :hao haizi:, literally means :ood baby:?
brand in Gunshan, iansu 5rovince.
7ven thouh "on did not have any relevant business e$perience, he was able
to identify a shift in the children products market. #herefore, he thouht that the
factory should make finished products and decided to desin a stroller himself. #he
product he invented was not only a stroller, in fact its wheels could be folded in to
become a rockin chair and dinin chair. In /99) the company was ranted a /)year
patent in *hina for the :push and rock: stroller and soon after, oodbaby established
its leadership in the local market, rankin number one in strollers sales in /990. In
mid/99)s the company started its international e$pansion- first, in /991 durin a
trade fair in 6allas they established contact with *osco, an American company part of
6orel roup. 6orel is a leadin *anadian player in the uvenile sector, which is
proprietary of lobal stroller brands such as @uinny, =a$i*osi, and "afety !irst. #he
active collaboration with 6orel started in /993- since that year oodbaby has
produced strollers for the American market under local brand names, as :oodbaby:
was not perceived as effective enouh in the American culture >:eoby: brand wasused as alternative, but it was soon replaced?. #hanks to the collaboration with 6orel,
oodbaby also entered the *anadian market and later the 7uropean one in ())(. In
7urope oodbaby has also built relationships with 5lay and "ilver *ross, respectively
for the "panish and 7nlish markets.
"ince the establishment of the company, oodbaby roup invested on 2&6
centers in *hina and abroad, aimin to build a comprehensive lobal 2&6 system,
composed by five 2&6 centers with more than 00) professional 2&6 and desin
enineerin staff located in Gunshan, Hon Gon >toy division?, %oston, Amsterdam,
and #okyo.
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!iure /
In ()/), oodbaby decided to update its brand imae, by chanin its loo
>!iure /? and creatin a new brand frameworkdue to a more competitive market
caused by an increasin presence of international competitors. #he new desin was
developed by %einstudio, which chaned the loo by makin it more modern. #he
name was shortened into the initials :b:, therefore it can be used to indicate other
names different than :ood baby:. !our brand values were defined >safety, durable
Buality, modern fashion, and love?, and with accordance to the loo and brand values,
the payoff unified *hinese and 7nlish te$ts- : with love from b: >:
: translation is :;et love embrace you:?. 6urin our interview with the
assistant to president, he declared that for oodbaby *hina represents the most
competitive market due to two main reasons-
J It is not a uniBue market, but an international one, in fact different products
need to be developed dependin on their eoraphic area >the "outhern part is more
similar to apan, where there is a hiher demand for liht strollers, whereas the
Korthern part is similar to 2ussia, in fact heavy and thicker strollers are more
common?L
J #he *hinese distribution system is very comple$, in fact contracts need to be
neotiated with distributors for different areas. #herefore, oodbaby has established
01 sales branches in *hina and developed a wide distribution network that covers
more than 1,))) points of sale, includin /,))) monobrand stores.
oodbaby manae to established cooperative relationships with 0(
international distributors and 8( brand owners. It sells its products under the :b:
brand in apan and 2ussia, whereas in the Mnited "tates and 7urope local brands are
used. Its products occupy '/.(N, 0'./N, and /3.'N of the market share respectively
in *hina, Mnited "tates, and 7urope.
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,., A co57ett6e anal3// of te bab3 /troller/ /ector n Cna
In order to analyze the price of strollers with the sample, an averae price of
/,('/.4' 2=% oodbaby is positioned low >below the mean, which is (,'((.89
2=%? like the other *hinese brands. %ut comparin the price only with *hinese
brands, its price is the hihest one >7$hibit /?. In addition, oodbaby has a wide
variety of products >i.e. number of cateories?, satisfyin the maority of the needs in
baby carryin. #he only competitor with a similar stratey is *ombi, a apanbased
company with subsidiaries in many countries. #his is also confirmed by the data
athered durin the interview with oodbabys manaer.
>7$hibit /?
#o o deeper with the assortment strateies analysis, the width and the depth
>number of different strollers each brand offers? of the product variety werecompared. oodbaby occupies a distinctive position >7$hibit (? as it is present in
most of the baby products cateories and has the deepest variety of products. It is
followed by Happy 6ino, which is a brand of the same roup. Cnce aain, *ombi is
the main competitor.
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7$hibit (
=ovin towards distribution part, the most distributed brand is oodbaby,
whose products are sold in more than 1,))) points of sale >includin /,))) mono
brand stores?, followed by "tokke with /40 stores >no information related to their
format?, *hicco >/)1 monobrand stores?, and Eooper >/)1 specialized stores?. #he
main competitor *ombi declares to have 10 monobrand stores.
%rands 5resence in the #op 1 7commerce websites
%rita$ O 2omer, *hicco, *ombi, *oncord,
7asywalker ,oodbaby, raco, Happy 6ino,
Giddy, @uinny
1
Aprica, !atone, oie, "eebaby, Eooper '
Inlesina, 'moms 0
Aillia, "tokke, M55Ababy (
%uaboo /
,.8 Inter6e9/ 9t cu/to5er/
Accordin to the case study conducted, oodbaby is the most purchased brand
with 0/./9N of preferences, followed by *ombi with a rate of /3.80N, raco
>4.'0N?, and Aprica >'.91N? >#able 0?. It has to be noted that the top five brands,
with the e$ception of oodbaby, are all forein, whereas all *hinese brands purchase
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rates are very low. In addition, oodbaby is also the preferred brand in the pre
purchase phase- (8.4'N of our sample planned to buy a oodbaby stroller, aain it is
followed by *ombi with /0.49N of preferences, and raco >8.)1N?.
%rand Ko. of purchased strollers N of purchased strollers
oodbaby 30 0/./9N
*ombi 0' /3.80N
raco /1 4.'0N
Aprica /) '.91N
@uinny 8 0.93N
,.: %ndng
oodbaby acts as an international brand in a wide national market, a new way
to become lobal that could be an e$ample of internationalization process operated by
*hinese brands. In this sample, oodbaby is the first of the five most purchased
brands and it is the only *hinese one, whereas all the other local brands belon to low
costlow Buality competitive roups with absolutely marinal market shares.Cbviously, this situation can be read as a stron preparation phase in order to
massively enter international markets. Answerin to 2@/, the researchers said that
international and lobal companies influence *hinese ones as a benchmark, however
this is true only for the e$cellent ones that aim to compete with a lobal attitude
within the lobal market. Answerin to 2@(, the local market toether with the
international competition create an environment where *hinese companies that want
to emere from a marinal role are pushed to :o lobal:, by ainin the features of
lobal brands- Buality >at least :oodenouh:?, a brand with an international
soundin name and loo, marketin alliances with forein partners, and lare
investments in 2&6. In addition, they have found that to be a leader, a link with its
own country is important, too. !irst, oodbaby has ained social reconition thanks
to its many awards received by *hinese institutions. #hen, only in a second phase of
its success, it updated its loo in order to be perceived as more modern, chanin the
brand framework but maintainin the oriinal ideorams.
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,.; %uture #e/earc
!uture research could incorporate an analysis of the internationalization
strateies and the forein direct investments data of oodbaby abroad. In addition, the
implications of different *hinese industry settins could be considered in order to
increase the eneralizability of our findins. Pet, case studies do not have
eneralization as their main obective, bein rather aimed at describin specific
phenomena that e$tant literature has not completely e$plained yet.
,.< Co55ent/
In my opinion, oodbabys history reflects the steps undertaken by other
*hinese firms and 7==K7s- its internationalization process was necessary since the
companys foundation in order to ain the resources and knowhow it did not have the
adeBuate access before. #herefore, the internationalization e$pansion was initiated in
a bi market such as the Mnited "tates, where they established partnerships and
strateic alliances that provided oodbaby with the conditions to become the first
strollers brand in *hina and a leadin stroller manufacturer in the world. #akin
Haier as e$ample, oodbabys success is also built on its competitive advantae of
bein more fle$ible, faster, and closer to *hinese customers than the competitors.
=oreover, the value of their offer in the perception of the customers is enhanced when
local companies become lobal and create an international imae.
8.0 Green Gro9t and Tecnologcal Inno6aton2 A ca/e for 'out A/an Countre/
8.1 Tecnologcal nno6aton/ and Intellectual Pro7ert3 #gt
In "outh Asian countries, there is a focus on Intellectual 5roperty 2ihts to
access the environmental protection technoloies. 6ay by day this trend is drawin
much attention, and I52s are important to access these technoloies. In developin
countries especially in "outh Asia, the enforcement of Intellectual 5roperty 2ihts
increases the lobal competition in reen technoloical innovation. Pet, technoloical
innovations strenthen the I52s and speed up the process of technoloical innovationand development. I52s are an interal tool to achieve the technoloical innovation.
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6espite this, the level of I52s protection in "outh Asian countries is very low as
compared to developed countries. 6ue to weaker protection of I52s, very few
inventions are marketed in these countries and most of industries rely on pirated
technoloies. #he followin raph shows the situation of Intellectual 5roperty 2ihts
in "outh Asian countries.
#his raph clearly shows that the enforcement of Intellectual 5roperty 2ihts
is very weak in "outh Asian countries as compared to the developed ones. India and
"ri ;anka had somehow better in I52s enforcement compared to %anladesh and
5akistan. %ecause of no incentives for advanced technoloies in these countries, the
number of inventions is less. #his situation has iven rise to many challenes in the
way of achievin reen rowth in "outh Asian countries.
;ookin at the sinificance of patentin reen technoloy, Intellectual
5roperty 2ihts >I52s? is an interal tool to foster innovations in developin countrieswithin "outh Asia. As the reion itself is severely deprived of advanced eBuipment, an
effective I52s system would provide the necessary incentives to adopt the risks for
considerin new technoloy. #he initiation of I52s in "outh Asian countries would
encourae costeffective e$port, forein investment, technoloy transfer and
innovative products. #his mechanism will benefit both the relevant developers alon
with their consumers and above all provide access to innovative reen technoloies.
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8., Tecnologcal nno6aton/ and #e/earc and De6elo75ent E=7endture
2esearch and 6evelopment >2&6? 7$penditures play a sinificant and
positive role in innovative technoloies. #he emphasis of 2&6 7$penditures
enerally and reen 2&6 7$penditures specifically are important for technoloical
innovation. Kew research and development introduce the new knowlede of
production and the method of technoloical chane. #hrouh this developin
countries reduced the emissions and produced the efficient technoloies. "ome
countries like "outh Asian countries have limited 2&6 7$penditures and thats why
their innovative capabilities are very low as compared to the developed countries.
It is evident that 2&6 7$penditure and patent applications have a positive and
sinificant role to foster the technoloical innovation because a patent is taken for
preventin information theft. 5atent is a protection iven to an invention and the
number of patent applications demonstrate the performance of countries, reions,
enterprises and technoloy centres in the field of innovation. #he fiure below
compares the patent filins with 2esearch and 6evelopment 7$penditure. #otal
research and development is slow in constant year >()))? M" dollars at the purchasin
power parity. #his is a meaninful crosscountry comparison by weihtin the number
of patents while takin different measures of economic activity and country size.
#he 2esearch and 6evelopment >2&6? 7$penditures continue to demonstrate
an increasinly sinificant role in patentin of reen technoloies. #he emphasis of
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reen 2&6 7$penditures enerally is imperative for innovative reen technoloies.
#hese e$penditures foster the commercialization of new innovative technoloies and
successfully reduce the environmental pollution. *onseBuently, production of
environmentfriendly oods would improve, ensurin sustainable development. #hese
products would also be helpful in minimizin deradation.
8.8 Tecnologcal nno6aton/ and Green Ta=e/
#he environmental ta$ation plays a sinificant and positive role to raise
technoloical innovations. In international market, developin countries, like "outh
Asian countries, have to face touh competition due to the imposition of reen ta$es.
reen ta$ would damae the competitiveness of the domestic industry. ;ocal produce
may also affect due to this. Dith the imposition of reen ta$ on industries the cost of
subect increases. 6evelopin countries like India, 5akistan, %anladesh and "ri
;anka are not in a position to bear the e$tra cost of production, as it affects its
e$ports. Cn the other hand, it is a fact that these countries lack hih environmental
standards. #his is the reason why imposition of reen ta$es is not applicable in
developin countries. "till its importance cannot be inored because throuh this
revenues increased, pollution is reduced.
7nvironmental ta$ation plays a fundamental role in introducin anddevelopin the innovative reen technoloies. Mnlike other costly instruments such as
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tradable permits, and environment related ta$es introduce a complete rane of
innovation and new production techniBues. Dith prospect for the overnment to
enerate colossal revenue from the environmental ta$ation, they would be able to
e$ercise publicprivate partnership and use it for further reen 2&6 7$penditures.
8.: %ndng/
#he initiation of I52s in "outh Asian countries would encourae costeffective
e$port, forein investment, technoloy transfer and innovative production. #his
mechanism will benefit both the relevant developers alon with their consumers and
above all provide access to innovative reen technoloies >%IA*, ()/(?. As a result
of the low protection of I52s, the study identifies various challenes related to few
inventions and lack of incentives in the reion to attain reen rowth. #he
emphasis of reen 2&6 7$penditures enerally is imperative for innovative reen
technoloies >C7*6, ())9?. #hese e$penditures foster the commercialization of new
innovative technoloies and successfully reduce the environmental pollution.
*onseBuently, production of environmentfriendly oods would improve, ensurin
sustainable development. #hese products would also be helpful in minimizinderadation. #his study indicates that "outh Asian countries have a very limited 2&6
base and a low level of invention and innovative capabilities as compared to
developed countries. 7nvironmental ta$ation plays a fundamental role in introducin
and developin the innovative reen technoloies. Mnlike other costly instruments
such as tradable permits, environment related ta$es introduce a complete rane of
innovation and new production techniBues. Dith prospect for the overnment to
enerate revenue from the environmental ta$ation, they would be able to e$ercise
publicprivate partnership and use it for further reen 2&6 7$penditures.
8.; Co55ent/
#he study illustrates the reen rowth perspective of "outh Asia to address the
Buestion of achievin sustainable reen rowth in the conte$t of technoloical
innovation. #he reason is that "outh Asian countries are in the process of establishin
their infrastructure, transport and enery systems. "o, it is time to innovate and
uprade the knowlede, skills and technoloies towards reen solutions from the
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outset. However, it is necessary to know the benefits of reen rowth and what can
reen rowth brins for "outh Asian countries. 5recisely, access to technoloy is ust
as important as the invention aspect of innovation for all the countries to develop and
row.
:.0 Integraton of Idea/2 Tecnologcal nno6aton/ and Internatonal-aton
7$pansion in market size has positive dynamics in innovative knowlede and
activities. #he reason the market e$pansion is important is industrial rowth, which leads to
new invention and technoloical innovations by achievin the economies of scale. Dhen
demand of reen products increases in the market, then 2esearch and 6evelopment
7$penditures increase too. As a result, the structure of firms, industries and markets is
chaned. #his situation may lead to invention and innovations and then reen technoloies
are automatically increased.
In *hina, the pollution rates are considered at the most e$treme level and the
overnment have taken several measures in order to curb the problem. However, in some
developin Asian countries, reen ta$es are imposed and it affect the firm performance
because they have to control the amount of production and bear the additional cost in order
for them to o reen. #hus, encourain the emerin firms to practice reen technoloy is
one of the best ways to solve the problems and enhance the technical functionin of itsproduction, process and finished products. !urthermore, the *hinese emerin firm can ain
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advantae from the reen rowth practice as this will attract more interests from abroad to
build up collaboration and several capabilities in the form of new development and
operations. Dith the development capability, the *hinese firm could internationalize by
e$ploitin into many countries because they could develop reen products especially for the
country that practice the usin of friendly environmental products. As for the operational
level, if the *hinese have a hih operations capability in reen technoloy, the manaers can
internationalize by usin their e$perience which would result in developin a new process for
their firms.
#he world is rapidly rowin due to the lobalization and technoloical advancement.
!irm who intend to compete in international market should take innovative ways in terms of
I52 and research and development because the international markets are much more
competitive and rapidly evolvin.
;.0 Conclu/on
In conclusion, oodbabys history reflects the steps undertaken by other *hinese
firms and 7==K7s- its internationalization process was necessary since the companys
foundation in order to ain the resources and knowhow it did not have the adeBuate access
before. #herefore, the internationalization e$pansion was initiated in a bi market such as the
Mnited "tates, where they established partnerships and strateic alliances that provided
oodbaby with the conditions to become the first strollers brand in *hina and a leadin
stroller manufacturer in the world.
!rom my opinion, the 7==K7s successful internationalization processes start from
domestic market. #hey need to establish a stron base local market before they bein
penetratin in the international market.Advantaes are related to a hiher competitiveness of
7==K7s in the home market as they have a better knowlede of the clients, the distribution
channel and the institutional environment, considerin the *hinese firms, they prefer oin
abroad throuh acBuisition and oranic rowth as they miht want to reduce the psychic
distance.
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#he world is rapidly rowin due to the lobalization and technoloical advancement.
#hus, it is crucial for business firms to be innovative and adapt to current situation. #hese two
factors are really important, especially for the firms that want to stay compete in the
international market. If the firm manae to o lobal by usin one of the internationalization
method that have been suested above, they still need to be innovative because the
international markets is much more competitive and rapidly evolvin.
#echnoloical innovation, which focuses on increasin efficiency and reducin waste
is crucial to increase productivity and reduce its impact on environment. #herefore,
e$ponential reen rowth is ne$t to impossible without technoloical innovation. %oth
internationalization and innovation plays an important role in the lifecycle of a business
firms. #hese two factors are some of the main element that would enables the business firms
to stay competitive for a lon period of time throuhout their e$istence in the world market.
#here is a dire need to foster the technoloical innovation in developin countries that
will facilitate the transition to less carbon intensive economies to address the reen rowth.
#his proves that innovation in terms of reen rowth is really important for business firms to
stay competitive and stand tall in their own industry. Dithout innovation, a business firm that
oes abroad miht not be able to survive for a lonterm.
#eference/
!rancesca *hecchinato, ;ala Hu, et al. >()/0?, Internationalization of a *hinese %orn
local %rand in a !orein "ector- #he *ase "tudy of oodbaby.
=anzoor 2abia & "hakeel A.2. >()/0?, reen rowth and #echnoloical Innovation-
A case for "outh Asian *ountries.
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