Foreign Direct Investment in China: Some Lessons for Other Countries: 2

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Contents

  1. Open issues
  2. Connecting East Africa
  3. Skirting or Courting Controversy? Chinese FDI in Latin American Extractive Industries
  4. IMF Policy Discussion Papers

The adoption of multiple strategies by Chinese companies, and their increasing bets on mergers and acquisitions rather than greenfield projects or joint ventures, suggest a degree of institutional learning on the part of Chinese companies and their financing institutions, and hint at a more cautious stance being adopted in light of the growing instability and uncertainty in key Latin American partner states. As cases in Peru, Chile and Ecuador have shown, greenfield projects can become particularly contentious when operations are perceived by local actors to have negative environmental, social and economic consequences.

Open issues

Such debates sometimes entail charges of Chinese neo-colonialism, imposed dependency, and lax adherence to formal regulations—accusations that Chinese companies often having accumulated considerable experience in Africa before entering Latin American markets work to avoid in planning a long-term strategy in LAC. This helps to explain the growing salience of mergers and acquisitions. In sum, they work to skirt rather than court political controversy over investments in natural resource extraction.

In practice, however, and despite lacking political conditionalities, joint ventures tend to come with many Chinese strings attached, such as requirements about the use of Chinese firms and personnel, which creates new power asymmetries. First, the megaprojects that have been announced during the past five years should be studied more closely, particularly those that are implemented, and with special attention to potential impacts on local socio-economic, political and environmental dynamics. In addition, there is a need for a more fine-grained examination of how different local non-state actors, such as NGOs and unions, perceive and engage with these different modalities of investment.

Finally, future research should closely monitor any LAC investments financed through the BRICS New Development Bank and other new multilateral development initiatives in which China plays a role of dominant or shared leadership. Aizenman, J. Alden, C. Carcovik, M. Moran, E. Graham and M. Blomstrom eds. Washington, D. Cardoso, F. Crooks, N. Dunning, T. Ellis, R. Ferchen, M. Frischtak, C. Soares and T.

Making Big Ideas Happen™

Furtado, C. Gallagher, K. Garcia, G. Germani, G. Gonzalez-Vicente, R. Hermes, F. Hill, D. Huang, X.

Husar, J. Irwin, A. Jamasmie, C. Jenkins, R. Kotschwar, B. Moran and J. Krauss, C. Li, D. Chinese Multinationals London: World Scientific , pp. Lichtenstein, J. Menezes, B. Moran, T. Prebisch, R. Raff, H. Ryan and F. Ray, R. Ricciardi, A. Sachs, J. Salazar, R.

Connecting East Africa

Sanborn, C. Santos, T. Schreiber, M. Te Velde, D. Trubek, D. Alviar Garcia, D. Coutinho and A. Ulmer, A. Her research focuses on the role of rising powers, including the BRICS, in development cooperation and international security. Peer-reviewed journal that promotes cutting-edge research and policy debates on global development. Published by the Graduate Institute Geneva, it links up with international policy negotiations involving Geneva-based organisations.

Contents - Previous document - Next document. Skirting or Courting Controversy? Efforts to boost investment appear to be paying off as FDI inflows increased nearly 60 percent from last year, reversing a years-long downward trend. Despite Brexit uncertainty, it remains a highly competitive, industrialized market and is the fifth largest economy in the world.

Likely contributing to this jump are an improving business environment and a recent decrease of corporate tax rates. But domestic and external headwinds may be contributing to mixed investor views on its economic outlook. With more than a quarter century of uninterrupted economic growth, the country remains a large, stable investment destination. Its world-class business environment also remains a top driver of its attractiveness to investors.

More broadly, an improving economic climate is likely contributing to greater investor confidence.

Skirting or Courting Controversy? Chinese FDI in Latin American Extractive Industries

Strong business environment indicators and its growing appeal as a hub for companies moving out of the United Kingdom amid Brexit uncertainty likely drove this result. Its strength is in part the result of its strong performance on the factors investors prioritize when determining where to invest, such as lack of corruption and high levels of human capital. However, a weakening housing market may dent consumer spending growth.


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There is uncertainty surrounding the long-term impact of some new foreign investment policies though. Investors may be attracted to the country partly because it has positioned itself as a leader in 5G wireless networks and other emerging technologies. Investors appear unfazed by recent political turbulence, while the recent Belgian Pledge Act that simplifies borrowing and lending practices could be attracting investment. It is the external economy most vulnerable to Brexit, but it also enjoys strong substitutability as an FDI destination with a post-Brexit United Kingdom. Investors from the Asia Pacific region are particularly bullish about investing there.

The economy is helped by the relatively stable global oil price outlook as well as by the country burnishing its image as a green energy champion. These mixed results may be due to the expectation that the government will roll back privatization measures while opening the economy through new trade deals. Then the Ethiopian Railways Corporation should take over.

Rail transport in Africa goes back a long way. In the route between Alexandria and Cairo was opened.

Top 15 Countries by Foreign direct investment, net inflows (1969-2018)

These steam engines are said to have been running from the beginning of the 20th century to in Zambia. They are exhibited at the Railway Museum in Livingstone. A number of railway lines were constructed by the colonialists in Africa.

IMF Policy Discussion Papers

The trains transported raw materials to the coast, where they would then be shipped to Europe. Many of these routes are dilapidated. The relics in the photo belong to the original railway line between Swakopmund and Walvis Bay, built in but replaced in In a statement, the African Development Bank emphasized the importance of the railway for the continent.

It allows for the cheap transportation of goods and relieves urban congestion, according to the bank. The report also criticizes the poor condition of the rail networks. They mainly stretch across the north and the south and are often not linked to each other. As economies grow in many African countries, a new emphasis has been placed on transport improvements. If China and other backers continue to invest, deserted train stations such as this one in Addis Ababa could function again.

The Gautrain regional rail network connects Pretoria and Johannesburg with the largest airport in Africa. It is to be expanded from the current 80 to kilometers in the next 20 years. With about 21, kilometers of track, South Africa has by far the largest rail network in the continent. Sudan has 7, kilometers, and Egypt has 5, kilometers. The continent's highest-speed trains are planned in the north. The journey between Tangier and Casablanca should take 2 hours 10 minutes at a speed of up to kilometers per hour, instead of the now 4 hours 45 minutes.

The line will later extend to Algeria and Tunisia. China's Geely Group has stepped up its global expansion drive by buying into Malaysia's troubled carmaker Proton. It also secured a huge stake in British automaker Lotus as part of the Kuala Lumpur investment. Disagreements over giving "market economy" status to China have prevented a common statement on climate change after an EU-China summit. The issues of dumping and access to investment clouded the talks.

China has been a major investor in Europe over the past decade, pumping money to buy a number of strategic and high-tech assets. But Chinese investments have caused both exultation and trepidation. For Southeast Asian countries, an increased economic cooperation with China can be a double-edged sword. Beijing's investment initiatives are not only aimed at regional connectivity, they also seek ideological hegemony. India has announced a broad relaxation of foreign direct investment FDI rules in a number of key sectors, including aviation and defense.