Select one (1) MNC that does not currently do business in China.Next, consider the steps that the company should consider in determiningthe feasibility of entering the Chinese market and establishing amarket for its products or services there.In addition to your own research, use the following links to conduct a country risk assessment (CRA) on China: Bureau of Economic Analysis: www.bea.gov Transparency International Corruptions Perceptions Index: http://www.transparency.org/cpi2013/resultsRanking of Economies-World Bank: http://www.doingbusiness.org/rankingsIMF Home Page: http://www.imf.org/external/index.htmCountry Risk Classification-OECD: http://www.oecd.org/tad/xcred/crc.htmWorld Trade Organization Home Page: http://www.wto.org/“Industry Analysis: Recreation” article:http://www.valueline.com/Stocks/Industries/Industry_Analysis__Recreation.aspxFocuson the following areas: corruption, political stability, exchange ratestability, regulatory oversight, freedom of the press, and rule of law.Research other factors that you believe you should evaluate.Additionally, consider the importance of culture in evaluating risk.Then, go to the Hofstede Center’s Country Comparison cultural tool, located at http://geert-hofstede.com/china.html.Compare China to the U.S. on Hofstede’s six (6) key cultural dimensionsscale by selecting “United States” from the “Comparison Country”drop-down menu.Write an eight to ten (8-10) page paper in which you:Summarizethe business that you have chosen, and provide a two to three (2-3)paragraph justification as to why China would be a viable market for theselected business.Examine theexchange rate of the U.S. dollar and the Chinese Yuan for the last 24months. Explain the major overall changes that have occurred andspeculate on the key economic variables that most likely have influencedthe exchange rate movements. Provide a rationale for your response.Analyzethe major exchange rate risks associated with transaction andtranslation exposure within the Chinese market. Based on what you havegleaned from your analysis, predict the major changes that you believewill occur in the next 24 months. Justify your response.Recommendkey steps that the chosen MNC could take in order to mitigate oreliminate exchange rate risk. Suggest one (1) method that the MNC inquestion could use with derivatives in order to mitigate, or eliminatesuch risks. Provide a rationale for your response.Recommendone (1) hedging technique geared toward managing the economic,transaction, and translation exposure in the Chinese market. Justifyyour response.Conduct a country riskassessment to ascertain whether or not management should support theproposal for your chosen MNC to enter into the Chinese market. Based onGeert Hofstede’s six (6) dimensions of culture, predict three (3) likelyproblems posed by the cultural differences between the chosen MNC’sculture and the Chinese culture. Provide a rationale for your response.Use at least six (6) quality references, with at least two (2) from peer reviewed journal articles.Your assignment must follow these formatting requirements:Betyped, double spaced, using Times New Roman font (size 12), withone-inch margins on all sides; citations and references must follow APAor school-specific format. Check with your professor for any additionalinstructions.Include a cover pagecontaining the title of the assignment, the student’s name, theprofessor’s name, the course title, and the date. The cover page and thereference page are not included in the required assignment page length.