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PartTh
ree
Global
Trade
andInvestm
entEnviron
ment
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7
1.
2.
3.
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1.
q .
q , . (Foreign portfolio investment).
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?
q .
q greenfield
q .
q :
.
q M&A vs. Greenfield investment
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-
0
200
400
600
800
1000
1200
84 85 86 87 88 89 90 91 92 93 94 95 96 97 98
FDI
World Trade
World Output
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WHY IS FDI GROWING MORERAPIDLY THAN WT OR WO?
q Can circumvent future trade barriers.
q World political and economic change. Democratization of markets.
q Globalization of world markets.
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CHANGING FACE OF CHINAS
FOREIGN INVESTMENT
0
5
10
15
20
25
88 90 92 94 96 97
Joint Venture
Wholly Owned
Source: WSJ, June 11, 1998
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-
q
q
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know how-
know-how-
Know-how
: know-how-
2. , , ?
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q ? -to- (, )
, , ,
q
- .
q
.
q
2. ?
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3.
q ( ).
q
( ).
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3. , ,
q ?
.
.
q . know-how-
.
.
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??
know-howknow-how
??
??know-howknow-how
??
No
High
Yes
Yes
Low
No
Yes
No
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