# China Business History

The Bitter Aftertaste of Global Ambition: How Foreign Capital Swallowed China’s First Cola

Tianfu Cola, once China's dominant state-sponsored soda, was effectively marginalized following a 1994 joint venture with PepsiCo. This case highlights the historical pitfalls of China's 'market for technology' era and the immense difficulty domestic brands face in reclaiming market share from entrenched global giants.