美国论文代写|为什么中国吸引外商直接投资?

美国论文代写|为什么中国吸引外商直接投资?

来源:www.liuxuelunwen.org作者:cinq发布时间:2016-09-07 09:50
本文是美国留学生论文范文,主要内容是讲述中国近几年的经济发展状况,并且预测中国的经济走势,分析中国吸引外商直接投资的主要原因。
美国论文代写|为什么中国吸引外商直接投资?
Why China Has Attracted Foreign Direct Investment 
 
在25年的时间里,中国有望成为世界最大的经济,主要取决于中国出口生产的兴起,其中的2006是9689亿美元。其中大约有70%的出口是通过外国直接投资产生的,由国外公司,投入到中国。对外直接投资是由联合国世界投资报告定义为投资涉及一个长期的关系,反映在以外的外国直接投资者经济居民企业在一个经济的持久兴趣和居民实体控制。正如联合国会议报告所述,有效的外国直接投资东道国和外国直接投资者必须看到投资的优势。。外商直接投资是当今世界经济的重要组成部分,越来越鼓励全球化和国际贸易的跨越国界。在1998-2000年,外商直接投资增加了50%,平均每年由于并购和跨国并购的增加,全球外国直接投资流入量达到1兆7000亿美元。
 
In 25 years time, China is expected to become the world s largest economy, mainly down to the rise in Chinese exports being produced, which in 2006 was worth $968.9 billion. $700 billion, approximately 70% of these exports are produced through foreign direct investment, by foreign companies that have invested into China. (Lau, 2008) Foreign Direct Investment is defined in the World Investment Report by the United Nations as an investment involving a long-term relationship and reflecting a lasting interest and control of a resident entity in one economy in an enterprise resident in an economy other than that of the foreign direct investor (UNCTAD, 1999). As described in the UNCTAD report, for effective FDI both the host country and that of the foreign direct investor must see advantages to the investment. (Hamilton, Webster 2009). FDI today, is an important part of the world economy, increasingly encouraging globalization and international business across borders. In 1998-2000, FDI increased by 50% on average every year due to the increase in acquisitions and cross border mergers (Patterson, 2004) and in 2008, global FDI inflows reached $1.7 trillion. (UNCTAD, 2009)
 
China has benefited from the growth in FDI, to the extent that China has now become the largest FDI host of developing countries, and the second largest in the world. (Wei, Balasumbramanyam, 2004) (Zhang, 2005) The surge in growth has left China today to become particularly dependant on the foreign direct investment it receives, with over two thirds of China s gross domestic product (GDP) made up of imports and exports. (Hamilton, Webster 2009)
 
This essay will address the rise in foreign direct investment globally since the 1970s particularly the rise of investment into China, to where it stands today at more than $80 billion a year (Lau, 2008). Secondly, the essay will look at the reasons behind the huge growth of FDI in China, the policies that the Chinese government have adopted in order to encourage FDI as well as the advantages to foreign firms in manufacturing in China. The essay will then address the future of foreign direct investment in China, and whether the current trend of growth is likely to continue.
 
Foreign Direct Investment (FDI) is the acquisition, purchase of assets or establishment of facilities for production in a foreign country. FDI is mainly undertaken by multinationals companies (MNCs) which account for a large proportion of international trade, with proportions of production and trade between subsidiaries. (Hamilton, Webster 2009). The main methods of FDI that a firm can use in order to invest in a foreign market are through Greenfield ventures, joint ventures and the acquisition of assets in the host country. Greenfield ventures, is the creation of new production facilities in the foreign host country, whereas acquisitions, also known as Brownfield investments is when a firm purchases production facilities that already exist in the host country. This is a popular option for MNCs as they are able to start trading and producing quickly and sufficiently in their new premises, and in 2006 the total of brownfield investments had reached approximately $880 billion. (Hamilton, Webster 2009) Joint ventures are where a partnership has been created by the investor to another firm usually operating locally in the host country. One of the main advantages to joint ventures is that both sides of the party are able to reduce project risk. (Weigal, Gregory, Wagle 20)
 
Over the last 30 years, China has risen to become the worlds fastest growing economy (Lau, 2008) and has seen its FDI grow from under $200 million in 1980 to $44.9 billion, almost 225 times larger in 1997 all within just 17 years. (Coughlin, Segev 1999)
 
Previous to 1978, China had a small amount of FDI from Sino-Soviet joint ventures, however following the collapse of the alliance between the two, FDI in China slowed down described in (Lau, 2008) However 1978, China s view on FDI changed, following a change in the political leadership and economic policy. The Chinese communist party outlined plans to quadruple the GDP of China in order to increase the living standards of its citizens through the modernisation of the four industries of agriculture, industry (manufacturing), science and technology and the national defence. Encouraging FDI would assist in the communist parties goals, as foreign investment would bring foreign capital, introduce new advanced technology to the Chinese economy, increase the countries employment and income, and bring new business practices that would improve production and the quality of goods thus increasing exports. (Wei, Liu 2***) This was a significant change in views on FDI and outlined the growth and history to where it is today. The years between 1978 to present can be divided into four periods of change for FDI in China as shown in Wei, Liu 2***.
 
The experimental period, between 1978 and 1983, is where changes first started to take place. In order to encourage economic growth, China opened up its economy to FDI. Restrictions that had been in place for years were opened up however limited at first. The first guidelines for FDI in China allowed limited amounts of overseas investment in compensatory trade and joint ventures only in specific trades and only in four special economic zones. During these years, FDI was heavily controlled by the Chinese government up to the point where the government would be the key decision makers in selecting the joint venture partner for the international firm. Because of the highly governed restrictions, FDI in China did not grow rapidly at the caution of both the Chinese government and potential investers. (Lau, 2008) (Wei, Balasumbramanyam, 2004)
 
The second period of gradual development between 1984 and 1991, saw an increase of economic zones through the opening of seventeen open coastal cities and economic zones. At this point, investment increased in particularly with technology where China openly encouraged export orientated enterprises to invest. (Huang, 1998)
 
Between 1992 and 1993 is known as the peak period, which saw China s FDI surge following further adjustments to its economic policy. During this period 132,000 enterprises were approved by the Chinese government to foreign invest, with contracted FDI reaching $169.6 billion, following further derestriction s of sectors that were once forbidden to FDI. (Wei, Liu 2****)
 
The following period is known as the adjustment period, from 1994 till present. The period saw further economic liberization, such as a greater flexibility in joint ventures leading to increased growth. One of the changes was that FDI was now allowed from wholly owned foreign firms through Greenfield investment or acquisitions, to what was originally only allowed through joint ventures. FDI in China had become and by the mid 90s, FDI had grown to more then $40 billion and in 2007 was recorded to be over $80 billion per year. (Lau, 2008)
 
In order to establish the reasons behind China s rise to become the second largest foreign direct investment recipient in the world, the reasons firms decide to go multinational and in turn choose their host country must be addressed. John Dunning outlined the advantages to a firm going multinational in the Elclectic Paradigm , which is broken down into three groups of advantages of Ownership, Location and Internalisation. Ownership advantages will give the company an advantage over foreign rivals such as in production differentiation. (Sloman, Hinde 2007) Internalisation advantages are benefits of extending the organisation and structure of the business overseas. Bringing advantages to both horizontally intergrated, and vertically integrated multinationals, where the advantages of running subsidiaries in a foreign host country outweigh the costs of operating them domestically. However the location advantages of Dunning s Elclectic Paradigm, are key to looking at the determinants of FDI inflow into China. These are the advantages that the multinationals investing in China hope to get from investing in their country rather than another host market. Locational advantages can include an improvement in production and quality of a product, a reduction in costs or increase sales than what would have been achieved in their home country.



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