o survive in the long run. MNCs have followed the practice of introducing successful
             models to these markets. It remains to be seen whether this strategy will succeed. The
             Brazilian industry is much older than that of China or India, and will probably continue to
             experience significant growth. Capacity is expected to reach 2.5 to 3 million by the year 2000.
             The Korean carmakers are also entering India and could enter other emerging markets as
             well. Korea is a market for overseas MNCs but is emerging as a trade partner rather than a
             major net importer of cars. However, opportunities exist for overseas supplier companies in
             Korea. With stagnation in developed markets and huge additions of capacity in emerging
             markets, the monopoly of MNCs over car production could erode although they will continue to
             Korea, Brazil, China, and India on the one hand, and Thailand, Mexico, Malaysia, and
             Indonesia on the other hand is a late-industrializing nation. But, as Amsden and Kang
             (1995) argue, that there is a basic difference between the two groups with regard to the current and
             future status of their automobile industries. The second group of late industrializing countries,
             comprising Thailand, Mexico, Malaysia, and Indonesia have built an indigenous automobile
             industry to restrict the outflow of precious foreign exchange and to meet local demand. These
             countries do not intend to become major players in the global automobile industry in the near
             future. On the other hand, the first group of late-industrializing countries, namely Korea,
             Brazil, China, and India are building significant manufacturing capabilities and have the
             potential to become significant players in the world automobile industry. Korea has already
             become a significant exporter. The sheer size and market potential of China and India, and
             impressive rates of economic growth suggest that they could emerge as significant players in
             world market...