|題名: ||Chinese foreign direct investment to Germany|
Chinese foreign direct investment to Germany
|上傳時間: ||2012-10-30 11:51:11 (UTC+8)|
|摘要: ||China successfully attracted massive inflows of foreign direct investment since the beginning of its open door policy in the late 1970s. Recently however, this trend has been reversed and China itself became a major supplier of FDI for other parts of the world. This development is part of a larger strategy termed The Go Global Policy- officially adopted in the tenth five-year plan and creating a host of OFDI-friendly policies for Chinese enterprises. While China primarily invests into other developing and emerging economies, it also slowly emerges as an investor in developed markets- a development furthered by its massive holdings of foreign reserves. In particular Germany has developed into one of the primary locations attracting Chinese OFDI. While extensive attention has been devoted to Chinese OFDI flows to developing countries, little is known about its activities in developed markets like Germany.|
This case study based research paper concludes that Chinese FDI to Germany is largely limited to urban- and industrial clusters. While M&A in industrial clusters is the fastest growing entrance strategy for the Chinese, the takeover process is increasingly welcomed by German companies seeking to be taken over for own strategic reasons. The Chinese capacity to preprocess at low prices, access to the Chinese market and supply with funds are all key factors in shaping such a consensus- based M&A. However, as European governance provides for a variety of social and governmental stakeholders, the investment process is also highly regulated. Given a loophole on European level, the federal Republic has been able to extend its capabilities to direct and impinge upon Chinese FDI across all sectors. As this potential for regulation is largely not employed in practice, conflict between social and governmental stakeholders becomes increasingly likely, as unions already point to malpractice and violations by Chinese investors. Furthermore, hollow Chinese investments on municipal level may cause a general bias towards OFDI from China, which will make approval of future projects unlikely.
|參考文獻: ||Aggarwal, R. (1999). Technology and Globalization as Mutual Reinforcers in Business: Reorienting Strategic Thinking for the New Millennium. Management International Review Special Issue 1999/2, pp.83-104.|
Alderman, L. (2010, November 1). Looking for Investments, China turns to Europe. New York Times, retrieved from URL: http://www.nytimes.com/2010/11/02/business/global/02euro.html
Altman, R. (2009). The Great Crash- 2008. Foreign Affairs, Jan/Feb 2009. htt p://www.foreignaffairs.org/20090101faessay88101/roger-c-altman/the-great-crash- 2008.html
American Heritage Foundation (2012). China Global Investment Tracker. Retrieved online from URL: http://www.heritage.org/research/projects/china-global-investment- tracker-interactive-map
Anderlini, J. (2010, October 19). CIC launches Hong Kong Subsidiary. Financial Times, retrieved from URL: http://www.ft.com/intl/cms/s/0/90f5bb38-dba0-11df- a1df-00144feabdc0.html
Antkiewicz, A. & Whalley, J. (2006). Recent Chinese Buyout Activity and the Implications for Global Architecture. (NBERWorking Paper 12072) National
Bureau of Economic Research, Cambridge (Massachusetts), US. http://www.nber.org/papers/w12072.pdf?new_window=1
Aykuth, D. & Ratha, D. (2004). South-South FDI flows. How big are they?
UNCTAD, Transnational Corporations Research Note,
Battat, J. & Aykut, D. (2005, November). Southern Multinationals. A Growing Phenomenon. Paper presented at the meeting Southern Multinationals, a rising force in the world economy. Conference on Southern Multinationals, Mumbai, India. http://www.ifc.org/ifcext/fias.nsf/AttachmentsByTitle/South_south_FDI/$FILE/FIAS %20-%20South%20South%20FDI.pdf
BBC (2009, September 16). China’s Controversial Polish Contract. BBC, retrieved from URL: http://news.bbc.co.uk/2/hi/8259153.stm
Becker, A. (2011, July 2). Europe Crisis is China’ś Opportunity. Asia Times Online, retrieved from URL: http://www.atimes.com/atimes/China_Business/LG02Cb01.html
Berger, B. & Berkofsky, A. (2008). Chinese Outward Investments. Policies, Motives and Decision-Making. (Briefing Paper 172-CASCC) Centro Di Alti Studi Sulla Cina Contemporanea, Torino, Italy. http://ifsh.de/dokumente/artikel/172_cascc_briefing_paper.pdf
Beuttenmüller, S. (2011, January). Das deutsche Außenwirtschaftsgesetz vor dem Hintergrund der neuen Unionskompetenz für ausländische Direktinvestitionen. Paper presented at Ritsumeikan Law Association Joint Seminar on European Law 2011, Kyoto, Japan. http://www.ritsumei.ac.jp/acd/cg/law/lex/rlr28/BEUTTENMULLER.pdf
Bloomberg (2005, February 21). The Chinese are coming to Germany. Bloomberg Businessweek, retrieved from URL: http://www.businessweek.com/magazine/content/05_08/b3921070_mz054.htm
Bloomberg (2012, January 28). Sany will buy cement-pump maker Putzmeister in biggest China German Deal. Bloomberg, retrieved from URL: http://www.bloomberg.com/news/2012-01-27/sany-will-buy-cement-pump-maker- putzmeister-in-biggest-china-german-deal.html
BMWI- Federal Ministry of Economics and Technology (2009a). Eckpunkte der Prüfmöglichkeit für ausländische Investitionen. BMWI Press Statement 04.24.2009
BMWI- Federal Ministry of Economics and Technology (2009b). Fragen und Antworten zur Prüfmöglichkeit für ausländische Investitionen. BMWI Press Statement 04.24.2009
BMWI (2009c). Schlaglichter der Wirtschaftspolitik. China investiert in Deutschland. Federal Ministry of Economics, Germany. http://www.bmwi.de/Dateien/BMWi/PDF/Monatsbericht/schlaglichter-der- wirtschaftspolitik-02-2009,property=pdf,bereich=bmwi,sprache=de,rwb=true.pdf
Braams, B. (2008). Die Kompetenzverordnung im Vertrag von Lissabon. In: Pernice, I. (ed.). Der Vertrag von Lissabon. Reform der EU ohne Verfassung? Baden Baden: Nomos.
Brandt, L. (2008). China's Great Transformation. In. Brandt, L. & Rawski, T. (eds.). China's Great Economic Transformation. Cambridge: Cambridge University Press.
Bryant, C. (2012, January 30). China’s Sany to acquire Putzmeister. Financial Times, retrieved from URL: http://www.ft.com/intl/cms/s/0/7aecad0a-4a5e-11e1-a11e- 00144feabdc0.html
Buckley, P., Clegg, J., Cross, A., Voss, H. & Zheng, P. (2007). The determinants of Chinese outward foreign direct Investment. University of Westminster Research. http://westminsterresearch.wmin.ac.uk/4938/1/Buckley_et_al_2007_%2D_2_final_aut hor_version.pdf
Buckley, P., Cross, A., Tan, H., Xin, L. & Voss, H. (2008). Historic and emergent trends in Chinese ODI. Management International Review , 48 (6), pp. 176-747.
Cai, C. (2006). Outward Foreign Direct Investment Protection and the Effectiveness of Chinese BIT Practise. Journal of World Investment and Trade 7(5), pp. 621-652.
|顯示於類別:||[亞太研究英語博/碩士學位學程(IDAS/IMAS) ] 學位論文|