Technology Can Be Marketed To Less-Developed Nations

US corporations fail to realize that developing countries want to buy technology instead of goods and services. Licensing arrangements and joint ventures, are assessed in terms of future revenue generated by the sale of goods produced. This approach assumes the goods are what is being purchased, when in actuality, it is the technology (transferable skills) that is being purchased. In the Peoples' Republic of China, the reluctance to purchase goods can be attributed to the people's concerns about protecting hard currencies and their self-reliant nature. The resolution to this situation lies in China's willingness to purchase technology and treat the products as by-products. The failure to understand that technology is the product results in a lack of repeat business and in pricing problems. Companies with out-of-date technology that they are willing to share are welcomed in China.