Preview

Foreign Direct Investment

Powerful Essays
Open Document
Open Document
7137 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Foreign Direct Investment
RESEARCHING REALITY INTERNSHIP| 2012

FDI in Multi-brand Retailing: Lessons from China

Submitted by: Kaanan Gupta
CCS Working Paper No. 258 Non Summer Research Internship Programme 2012 Centre for Civil Society www.ccs.in

FDI in Multi-brand Retailing: Lessons from China 2012

Table of Contents
Introduction............................................................................................................................................. 3 Proposed FDI Policy for MBRT in India..................................................................................................... 5 FDI Policy for MBRT in China.................................................................................................................... 5 Four major dimensions of the policy on FDI in MBRT...............................................................................6 Impact on Small Farmers.............................................................................................................. 6 Photo 1. A Hebei farmer sells his produce in a Beijing neighbourhood.....................................7 Impact on Organized Domestic Retail Chains............................................................................. 7 Table 1: Top 10 Chinese Retail Chains 2010..............................................................................7 Impact on Traditional Retail........................................................................................................ 12 Figure 1. India and China’s Organized Retail Market Shares...................................................14 Impact on Supply Chain............................................................................................................... 14 Impact on Consumers.................................................................................................................. 15


References: AFL-CIO. n.d. Wal-Mart’s Impact on India’s suppliers and small businesses. [report online]. Accessed on 19 march 2012 at http://www.indiafdiwatch.org/fileadmin/WARNstorage/indiwm.pdf Agencies. 2012, FDI in multi-brand retail to benefit domestic players: Experts. [newspaper article online]. The Financial Express, Friday, 27 January. Accessed on 1 March 2012 at http://www.financialexpress.com/news/fdi-in-multibrand-retail-to-benefit-domestic-playersexperts/904631/3. Deloitte China CB&T Group. 2011. China power of retailing 2011. [report online]. China: Deloitte China Consumer Business & Transportation (CB&T) Group. Accessed on 3 April 2012 at http://www.deloitte.com/assets/DcomChina/Local%20Assets/Documents/Industries/Consumer%20business%20and%20transportation/cn _cbt_ChinaPowersRetailing2011_181011.pdf Devonshire-Ellis, Chris, Tse, Cindy, Shira, Dezan and Associates. 2012. India and China’s Retail Industries Compared. [article online]. Accessed on 12 April 2012 at http://www.2point6billion.com/news/2012/02/02/india-and-chinas-retail-industries-compared10759.html Dutta, Devangshu. 2011. FDI in Retail: More Heat than Light. [newspaper article online]. Financial Express: FE Reflect, Saturday, 26 November. Accessed on 23 March 2012 at http://www.financialexpress.com/news/more-heat-than-light/880586/0 Elliott, John. 2011. Tesco and Wal-Mart fuel Indian political crisis. [Riding the Elephant blog online].Independent Blogs, The Foreign Desk - International dispatches from Independent correspondents. Accessed on 1 March 2012 at http://blogs.independent.co.uk/2011/12/01/tescoand-wal-mart-fuel-indian-political-crisis/ Government of India. 2010. Issue of Discussion Paper on Foreign Direct Investment (FDI) in MultiBrand Retail Trading. Department of Industrial Policy and Promotion, Ministry of Commerce & Industry. Guruswamy, Mohan and Sharma, Kamal. 2006.FDI in Retail-II: Inviting more Trouble? [report online]. New Delhi: Centre for Policy Alternatives. Accessed on 6 March 2012 at http://www.indiafdiwatch.org/fileadmin/India_site/CPAS_report_2.pdf Guruswamy, Mohan, Sharma, Kamal, Mohanty, Jeevan Prakash and Korah, Thomas J. 2005. FDI in India’s Retail Sector: More Bad than Good, Economic and Political Weekly. Vol. 40, no. 7: 619-623. Kandarpa S.G., Tarun. n.d. FDI in Multi-Brand Retail In India - A Larger Pie Or A Scrunched Nut [article online]. Accessed on 10 March 2012 at http://www.mbaskool.com/businessarticles/finance/946-fdi-in-multi-brand-retail-in-india-a-larger-pie-or-a-scrunched-nut.html Krishnan, Ananth. 2011, Chinese retailers give global giants run for money. [newspaper article online]. The Hindu, Friday, 2 December. Accessed on 9 April 2012 at http://www.thehindu.com/business/Economy/article2681679.ece Manshu, 2011, FDI in Multi Brand Retail is Great. [article online]. Economy, Tuesday, 29 November. Accessed on 7 March 2012 at http://www.onemint.com/2011/11/29/fdi-in-multi-brand-retail-isgreat/ Mariwala, Harsh. 2011. FICCI President’s Reaction on FDI in Retail. [suggestion online]. New Delhi: FICCI. Accessed on 19 March 2012 at http://www.ficci.com/Sedocument/20169/fdi-policy.pdf 20 | Researching Reality Internship Centre for Civil Society FDI in Multi-brand Retailing: Lessons from China 2012 Mathur, Sameer and Martow, Cara. 2011. Global Retailing Strategies: How are Wal-Mart and Best Buy doing it in China? [blog online]. Budding Markets. Accessed on 23 March 2012 at http://www.buddingmarkets.com/ Mathur, Anurag. 2005. FDI in Retail, Business Cognizance, The IIT A e-Magazine. Volume 1, Issue no. 6. Accessed on 7 April 2012 at http://bcognizance.iiita.ac.in/aug-sep05/brainwave_1.htm MBA Universe.com. 2011. Essay Topic of the Day: Is FDI in Indian Retail the need of the hour? [article online]. Accessed on 29 February 2012 at http://www.mbauniverse.com/article.php?id=5292 Mukherjee, Arpita, Satija, Divya, Goyal, Tanu M., Mantrala, Murali K. and Zou, Shaoming. 2011. Impact of the Retail FDI Policy on Indian Consumers and the Way Forward. [paper online]. ICRIER Policy Series, No. 5. Accessed on March 18 2012 at http://www.icrier.org/pdf/Policy_Series_No_5.pdf Mukhopadhyay, Joy. n.d. Supply Chain Management: A Comparative Study between Large Organized Food and Grocery Retailers in India. [paper online]. Bangalore: National Seminar on Logistics &Supply Chain Management, IASMS. Accessed on 12 March 2012 at http://www.iasms.in/pdf/nationalseminar.pdf Nedungadi, Prakash. 2011.FDI in retail: Countries like Germany, South Africa and UAE have benefitted from modern retail [newspaper article online].The Economic Times, Saturday, 10 December. Accessed on 30 March 2012 athttp://articles.economictimes.indiatimes.com/2011-1210/news/30502124_1_retail-chains-small-stores-small-suppliers PTI. 2012. Government notifies 100% FDI in single brand retail [newspaper article online]. The Economic Times, Tuesday, 10 January. Accessed on 1 March 2012 at http://articles.economictimes.indiatimes.com/2012-01-10/news/30611620_1_single-brand-singlebrand-global-chains. PTI. 2011. FDI in retail to help control inflation: Columbia University study. [newspaper article online]. The Economic Times, Tuesday, 6 December. Accessed on 2 March 2012 at http://articles.economictimes.indiatimes.com/2011-12-06/news/30481866_1_multi-brand-fdi-inretail-sector-small-retailers Rao, Sujata. 2011. Retail volte face confirms India as BRIC that disappoints. [blog online]. Global Investing. Accessed on 23 March 2012 at http://blogs.reuters.com/globalinvesting/2011/12/06/retail-volte-face-confirms-india-as-bric-thatdisappoints/ S Ghosh, Gaurav. 2011. Retail lessons from China. [newspaper article online]. The Economic Times, Monday, 19 December. Accessed on 8 April 2012 at http://blogs.economictimes.indiatimes.com/choicerules/entry/retail-lessons-from-china Sharma, Kamal and Mohanty, Jeevan Prakash. 2005. FDI in retail – A question of jobs, not ownership. [newspaper article online]. The Hindu: Business Line, Thursday, 29 September. Accessed on 17 March 2012 at http://www.thehindubusinessline.in/2005/09/29/stories/2005092900181000.htm Sikarwar, Deepshikha. 2011. Multi-Brand FDI to Face Stiff Riders: Draft proposal sets conditions on investment, sourcing and no. of outlets in big cities. [newspaper article online]. The Economic Times, Thursday, 2 June. Accessed on 10 March 2012 at 21 | Researching Reality Internship Centre for Civil Society FDI in Multi-brand Retailing: Lessons from China 2012 http://epaper.timesofindia.com/Repository/ml.asp?Ref=RVRNLzIwMTEvMDYvMDIjQXIwMDEwNQ% 3D%3D Singh, Sukhpal. 2011. FDI in Retail: Misplaced Expectations and Half-truths.Economic and Political Weekly. Vol. XLVI, no.51: 13-16. Singh, Sukhpal. 2011a. Controlling Food Inflation: Do Supermarkets Have a Role?Economic and Political Weekly. Vol. Xlvi, no. 18: 19-22. Singh, Sukhpal. 2010. Implications of FDI in Food Supermarkets. Economic and Political Weekly. Vol. xlv, no. 34: 17-20. Thomas White. 2011. Retail Sector in China: The Next Big Thing? [BRIC Spotlight Report online]. Illinois: Thomas White International, Ltd. Accessed on 22 March 2012 at http://www.thomaswhite.com/pdf/bric-spotlight-report-china-retail-june-11.pdf TNN. 2011. Who is afraid of FDI in retail? [newspaper article online]. The Times of India, Tuesday, 29 November. Accessed on 29 February 2012 at http://articles.timesofindia.indiatimes.com/2011-1129/india/30453728_1_retail-sector-small-retailers-global-retail-giants Wang, Wuxia and Jha, Isha. 2011. Walmart and Carrefour in China. [case online]. Florida: David F. Miller Center For Retailing Education and Research, University of Florida, International Retailing Education and Training (IRET). Accessed on 7 April 2012 at http://bear.warrington.ufl.edu/oh/IRET/Cases/Wal-mart%20and%20Carrefour%20CaseEdits.pdf Woke, Li. 2011. Robust domestic market is teeming with competitors. [blog online]. China Daily. Accessed on March 25 2012 at http://www.chinadaily.com.cn/business/201108/25/content_13188303.htm 22 | Researching Reality Internship Centre for Civil Society
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    WAL-MART AND BHARTI: TRANSFORMING RETAIL IN INDIA
    • 1004 Words
    • 5 Pages

    WAL-MART AND BHARTI: TRANSFORMING RETAIL IN INDIA

    on FDI, this threat is considered as middle. The fact that the emerging Indian retail sector is…

    • 1004 Words
    • 5 Pages
    Good Essays
    Read More
  • Powerful Essays

    Expanding Target to China - Why Target should expand into China and what they will need to know.
    • 3046 Words
    • 10 Pages

    Expanding Target to China - Why Target should expand into China and what they will need to know.

    China is, without a doubt, the fastest growing economy in the world today. Companies from around the world have wanted to tap into China's market to cash in on the tremendous success that it continues to experience. There had been many restrictions for foreign companies who tried to do business in China, limiting the number of foreign companies, and allowing only the big players to come into China. Even then, these big players from around the globe faced more restrictions and rules once they entered China. But things have changed since China joined the World Trade Organization (WTO) in 2001; a new milestone for this country, as well as for other economies. Since then, restrictions for foreign investors and businesses to enter China's market had begun to ease up. By December 11th, 2004, China must remove remaining restrictions on the retail sector in order to comply with the WTO rules. This means it will be much easier for foreign retailers to enter the market, and for current foreign retailers in China to expand (1). Many retailers from all over the world will seize this golden opportunity, and Target should do so too.…

    • 3046 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Better Essays

    Tesco Plc in India
    • 1742 Words
    • 7 Pages

    Tesco Plc in India

    Although the Indian government had allowed foreign direct investment (FDI) in many industries, it is still questionable in retail sectors. That is because the foreign arrival can lead to the end of tons of local small and unorganized players. The Indian retail segment is worth £140 billion annually and over 95% of the retail market is unorganized and uncomputerized family-run stores—kiranas . However, there is a lot of motivation for the Indian government to issue FDI in retailing. First, the current local retail capacities (e.g. logistics systems and warehousing) and knowledge (e.g. supply chain management) of the Indian market are only partially mature. Thus, the coming of Tesco and other expert-global firms will enhance the local infrastructure and supply chain which is one of the current constraints of the Indian market to modern retail practices. For example, lifting the FDI regulation in retail sector would diminish the country’s food dilemma since according to Telegraph.co.uk, up to 40 percent of Indian food produce has rotted annually before reached the market. Moreover, in…

    • 1742 Words
    • 7 Pages
    Better Essays
    Read More
  • Powerful Essays

    Wal-Mart Business Model
    • 4185 Words
    • 17 Pages

    Wal-Mart Business Model

    FDI retail in India- would it be beneficial or detrimental in India’s economy (Business & Market perspective)-…

    • 4185 Words
    • 17 Pages
    Powerful Essays
    Read More
  • Good Essays

    Enrique Villarreal Tesco PLC The Strategy For India
    • 1149 Words
    • 3 Pages

    Enrique Villarreal Tesco PLC The Strategy For India

    Beginning in 1991, the Indian government took its initial step to open up and allow up to 51% of FDI in certain sectors. Over the next decade several reforms were passed by the government allowing for more foreign direct investment (Exhibit 3). In 2012 the government allowed for 51% FDI in Multi-Brand Retail, creating the opportunity that Tesco had been waiting for. From Exhibit 1 we can see that Tesco PLC was not the first global retailer to enter India, but they were the first grocery and multi-brand company.…

    • 1149 Words
    • 3 Pages
    Good Essays
    Read More
  • Best Essays

    Tesco in China
    • 4816 Words
    • 20 Pages

    Tesco in China

    Available at: http://www.foodinternational.net/articles/country-profile/1064/retail-in-thewild-east.html [Accessed 17 November 2008]. Kumar, A., 2007. Retail sector undergoing paradigm shift, [Online] (Updated 8 Jan 2007). Available at: http://www.dawn.com/2007/01/08/ebr8.htm [Accessed 20 November 2008]. Manktelow, J., 2008. The Ansoff Matrix, [Online] (Updated 2008). Available at: http://www.mindtools.com/pages/article/newTMC_90.htm [Accessed 20 November 2008]. Penhirin, J. & Miu, A., 2002. Hypermarkets China-style are Cashing In, [Online] (Updated 23 Dec 2002). Available at: http://www.mckinsey.com/locations/greaterchina/mckonchina/industries/consumer/hyper markets.aspx [Accessed 18 November 2008]. Shipeng, G. & Graham-Harrison, E., 2008. China launches surprise crackdown on plastic bags. Reuters UK, [internet] 8 January. Available at: http://uk.reuters.com/articlePrint?articleId=UKPEK25589820080108 [Accessed 18 November 2008]. Tesco PLC., 2008. Interim Results and Management Report 2008/9, [Online] Tesco PLC. Available at: http://www.tescoplc.com/plc/media/pr/pr2008/2008-09-30/ [Accessed 17 November 2008]. Tesco PLC., 2008. Our International Strategy, [Online] Tesco PLC. Available at: http://www.tescoplc.com/plc/about_us/strategy/international/ [Accessed 17 November 2008]. The Economist, 2008. Country briefings China – Factsheet, [Online] (Updated 30 Sept 2008). Available at: http://www.economist.com/countries/china/profile.cfm?folder=ProfileFactSheet [Accessed 17 November 2008]. The Economist, 2008. Country briefings China – Forecast, [Online] (Updated 30 Oct 2008). Available at: http://www.economist.com/countries/china/profile.cfm?folder=ProfileForecast [Accessed 17 November 2008]. Thorniley, T., 2008. City focus: Tesco takes on China. This is Money, [internet] 12 August. Available at: http://www.thisismoney.co.uk/investing-and-markets/article.html?in_article _id=449618&in_page_id=3 [Accessed 20 November 2008].…

    • 4816 Words
    • 20 Pages
    Best Essays
    Read More
  • Powerful Essays

    Walmart in China
    • 7383 Words
    • 30 Pages

    Walmart in China

    References: Alexander, N. (1997), International retailing. Oxford, U.K.: Blackwell. Alexander, N., and Quinn, B. (2002), “International retail divestment”, International Journal of Retail and Distribution Management, Vol.30, No.2/3, pp.112–25. American Chamber of Commerce in the People 's Republic of China (AmCham-China), “2010 White Paper on the State of American Business in China 10 May 2010”, http://www.amchamchina.org/article/6309 accessed 1/11/2010. Aoyama, Y. (2007),“Oligopoly and the structural paradox of retail TNCs: an assessment of Carrefour and Wal-Mart in Japan”, Journal of Economic Geography, Vol.7, No.4, pp. 471–490. A.T. Kearney, (2010), “Expanding Opportunities for Global Retailers”, The 2010 A.T/ Kearney Global Retail Development Index. A.T. Kearney. Bellens J., Bosshart S., and D. Ewing (2009), “A consumer paradigm for China”, The McKinsey Quarterly, available at: https://www.mckinseyquarterly.com/A_consumer_paradigm_for_China_2429. Bianchi,C.,and Arnold,S. (2004), “An institutional perspective on retail internationalization success: Home depot in Chile”, International Review of Retail, Distribution and Consumer Research, Vol.14, No. 2, pp.149–169. China Chain Store and Franchise Association http://www.chinaretail.org/shownews.asp?id=1294 (accessed September 2010). Christopherson, S. (2007), “Barriers to ‘US style’ lean retailing: the case of Wal-Mart’s failure in Germany”, Journal of Economic Geography, Vol.7, No.4, pp. 451–469. Colla, E. and Dupuis, M. (2002), “Research and managerial issues on global retail competition: Carrefour/Walmart”, International Journal of Retail & Distribution Management, Vol.30, No.2, pp. 103-111. Cao, L. and Dupuis, M. (2009), “Core competences, strategy and performance: the case of international retailers in China”, The International Review of Retail, Distribution and Consumer Research, Vol.19, No.4, pp. 349–369. Csrglobe, http://www.csrglobe.com/login/companies/carrefour.html accessed 1/11/11. Currah, A., and Wrigley, N. (2004), “Networks of organizational learning and adaptation in retail TNCs” Global Networks, Vol.4, No.1, pp.1–23. Dawson, J., Mukoyama, K., Chok, S. and Larke, R. (2003), “The internationalization of retailing in Asia”, RoutledgeCruzon-Taylor & Francis Group, London & New York.…

    • 7383 Words
    • 30 Pages
    Powerful Essays
    Read More
  • Best Essays

    Globalization of Walmart Into the Indian Market
    • 4271 Words
    • 18 Pages

    Globalization of Walmart Into the Indian Market

    This research looks at the challenges and possible solutions of globalizing a large-scale retail company. It considers the foreign investment strategies of the retail titan Walmart, how it has succeeded in 27 countries and how it plans to succeed in India as well. First is an analysis of Walmart’s current global presence, followed by a critical look at its foreign investment failures in Germany and South Korea, the challenges Walmart faces by adapting its inventory and supply chain strategy to the Indian market, what it has learned from the research of current business practices in India, and what the future climate of India offers Walmart. The accomplishments of companies like Walmart mean a freer and more open market for developing nations like India and the globe, and directly and indirectly progresses consumers and firms worldwide toward a mutually beneficial global marketplace.…

    • 4271 Words
    • 18 Pages
    Best Essays
    Read More
  • Powerful Essays

    Body Shop Expansion To China
    • 5412 Words
    • 17 Pages

    Body Shop Expansion To China

    Bibliography: European Commission., 2006. Retail Sector: Forward-Looking Perspective of Eu-China Trade & Investment Relations. [pdf] Available at: http://trade.ec.europa.eu/doclib/docs/2006/july/tradoc_129429.pdf [Accessed 18 Aug 2013]…

    • 5412 Words
    • 17 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Walmart
    • 3760 Words
    • 16 Pages

    Walmart

    This paper is an analysis and evaluation of Wal-Mart and the future venture into the retailsector of India. The challenges that Wal-Mart needs to resolve to become successful range fromthe cultural differences to problems with supply chain management in India. The analysis belowidentifies the challenges of many factors dealing with the Wal-Mart, Bharti and the Indian retailsector. These factors for Wal-Mart would deal with the ability to operate in India efficiently asthey do in the US. In addition, Wal-Mart to be successful will have to sort out problems with thegovernment, culture differences and the partnership with Bharti. These factors for Wal-Mart andBharti will be presented in more specific detail through a SWOT analysis. The analysis willevaluate Wal-Mart as a company in relation to the future operation in the Indian market. Thenthe Bharti Company will be analyzed using a SWOT to pin point how the company will fit intothe overall plan of Wal-Mart operating in India. The report will further evaluate the Indian retailsector through a competitive industry analysis using the Porter’s 5 forces model. This model willdetail the threats to the market entry, supplier power, buyer power, availability of substitutes andcompetitive rivalry as they relate to the India retail sector. The report will then offer alternativesfor the Wal-Mart company. These alternatives would include not progressing forward withinIndia, chose a global market with less regulation, focus business to become s specialized retailer and collaborating with a different company other then Bharti to expand in the Indian retail sector.The analysis will close with recommendations to focus changes on the culture, consumer behavior, collaborating with current vendor and suppliers and work to improve the image of Wal-Mart and how the company can make positive changes in the retail sector for the people of India.2…

    • 3760 Words
    • 16 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Parle Marteking Report
    • 5138 Words
    • 21 Pages

    Parle Marteking Report

    References:               http://articles.economictimes.indiatimes.com/2011-11-30/news/30458687_1_retail-chainsforeign-retailers-retail-fdi http://www.moneycontrol.com/news/business/fdiretail-beneficial-for-realty-fmcg-sectorexperts_624522.html http://www.ibef.org/artdisplay.aspx?cat_id=447&art_id=30809 http://www.nielsen.com/in/en/news-insights/press-room/2012/demand-spotting--the-rise-of-theindian-small-town.html http://www.mxmindia.com/2011/12/middle-india-market-for-fmcgs-will-exceed-us-20-bn-by2018-nielsen/ http://www.naukrihub.com/india/fmcg/overview/ http://www.newstrackindia.com/newsdetails/2012/05/03/254--India-s-biscuit-industry-headingtowards-premiumisation-Feature-.html http://www.ibmabiscuits.in/industry-statistics.html http://www.censusindia.gov.in/vital_statistics/srs/Chart_-2010.pdf http://www.indexmundi.com/india/demographics_profile.html http://www.thehindu.com/business/Economy/india-4th-largest-economy-but-has-low-per-capitaincome-survey/article2998234.ece http://timesofindia.indiatimes.com/business/india-business/Need-9-growth-for-per-capita-incomeof-about-10000-Rangarajan/articleshow/15438099.cms http://indiatoday.intoday.in/story/per-capita-income-rise-reflects-growth-in-india/1/171582.html http://www.searo.who.int/en/Section313/Section1519_10850.htm…

    • 5138 Words
    • 21 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Chinas Retail Market
    • 2469 Words
    • 7 Pages

    Chinas Retail Market

    R. Dhanya & S.Ramachandran (2014), “A study about Foreign Direct Investment in Retail Sector in China”. Indian Journal of Applied Research. Volume 4. Issue 3. Information retrieved December 3 2014 from: http://www.theglobaljournals.com/ijar/file.php?val=March_2014_1393846681_38326_71.pdf…

    • 2469 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Good Essays

    Contract Farming in India - Its Implications
    • 17010 Words
    • 69 Pages

    Contract Farming in India - Its Implications

    18. Sukhpal Singh., Implications of FDI in Food Supermarkets. , Economic and Political Weekly, August 21, 2010, Vol .XLV, No 34. Pg.17 to 20.…

    • 17010 Words
    • 69 Pages
    Good Essays
    Read More
  • Good Essays

    Sezs : - India vs China
    • 10222 Words
    • 41 Pages

    Sezs : - India vs China

    CCS Working Paper No. 156 Summer Research Internship Program 2006 Centre for Civil Society www.ccs.in…

    • 10222 Words
    • 41 Pages
    Good Essays
    Read More
  • Powerful Essays

    Business Administration
    • 7463 Words
    • 29 Pages

    Business Administration

    7. Evaluate the advantages and disadvantages of FDI. What is your opinion on the role of FDI in the Retail Sector? Justify your views with India's experience in this sector. (20 Marks…

    • 7463 Words
    • 29 Pages
    Powerful Essays
    Read More

Related Topics