From World Factory to Global Investor: A Multi-Perspective Analysis of China’s Outward Direct Investment

Description

Chinese outward direct investment (ODI) is growing rapidly in recent years. As an important phenomenon in the global economy, China’s ODI deserves more thorough analysis. This book looks at China’s ODI activities from multi-perspectives. With the rebalancing of China’s own structural growth and China’s shift towards a net capital exporter, her initiatives such as "One Belt One Road (OBOR)" have brought profound implications to the traditional super-sovereign or multilateral financial and investment cooperation mechanism. As her investment destinations and investment methods become more diversified and sophisticated, this book offers unique and refreshing insight into China’s ODI activities. The book covers the whole range of history and policy development of China’s ODI and analyses China’s ODI trends and characteristics in the recent years. It reviews China’s major policy changes after the Third Plenary Session of the 18th Central Committee of the Communist Party and how they may impact China’s ODI strategy and activities. The book addresses potential challenges and risks of rising ODI activities from practitioners’ perspective, and discusses how recipient countries may react and respond to the surge of Chinese capital. The book also offers policy implications and future research agenda in relation to the Chinese investments. Cover Title Copyright CONTENTS List of figures List of tables Foreword Foreword Acknowledgements List of contributors Abbreviations Introduction and overview PART I Review of Chinese outward direct investment 1 Outward direct investment by Chinese enterprises: a survey (2005–2016) 2 From ‘World Factory’ to international capacity cooperation: China’s evolving role in the global value chain 3 China’s economic transition and outward direct investments 4 Challenges in GVC and ODI development: what can China do? 5 Chinese outward foreign direct investment – an opportunity to revisit international business theory PART II Policy development and implications 6 Recent changes in China’s outbound investment policies and their implications 7 China builds up free trade areas to facilitate OFDI 8 Asian Infrastructure Investment Bank (AIIB): a new mechanism for global financial cooperation 9 RMB internationalization: history and outlook 10 Japan’s experience of foreign investment and China’s policy options PART III The dynamics of Chinese ODI 11 11 From active buyers to active owners 12 Execution is the strategy: The key to Lenovo’s success in IBM PC division acquisition 13 Why go global? The logic behind investing overseas 14 The dynamics of Chinese outbound investment – challenges and case studies 15 Capitalizing on opportunities and tackling major legal challenges and risks: a practitioner’s perspective PART IV Chinese ODI in a global context 16 Policy implications of FDI on fi nancial sector development 17 The history and evolution of Chinese companies going global: what to expect in the years ahead 18 Chinese investment in the UK: great expectations? 19 The ‘New Normal’ and its implications for Chinese investment in Africa 20 The return of bilateralism: China, post-Brexit Britain and Trump PART V Conclusion 21 Summary and conclusions Index