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Erschienen in:
2011 | OriginalPaper | Buchkapitel
Cadre-Capitalism Goes Global: Financial Market Reforms and the New Role for the People’s Republic of China in World Markets
verfasst von : Jörn-Carsten Gottwald
Erschienen in: The Emergence of Southern Multinationals
Verlag: Palgrave Macmillan UK
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Chinese outward investment is making headlines: little-known Geely Automotive bids for Sweden’s carmaker and European middle-class insignia Volvo (BBC, 2009), a completely unknown company from Sichuan for American icon Hummer (Stall, Terlap and King, 2009). State-owned energy companies invest in African oil, and the government of EU member state Greece turns to China to avoid bankruptcy (Reuters, 2010a). Three decades after the leadership of the People’s Republic of China (PRC) initiated deep economic and social reforms, China joined other transition economies to emerge ‘as significant outward investors’ (UNCTAD, 2006: xxiii).