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Journal of Chinese Political Science

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01.03.2011 | Research Article

Chinese MNCs as China’s New Long March: A Review and Critique of the Western Literature

verfasst von: Jean-Marc F. Blanchard

Erschienen in: Journal of Chinese Political Science | Ausgabe 1/2011

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Abstract

Chinese outward foreign direct investment (COFDI) has captured the imagination of international business academics, journalists, and analysts of Chinese foreign economic policy. While these students of COFDI have added greatly to our knowledge, they have not adequately considered the politico-economy of COFDI. Specifically, they have not sufficiently evaluated the degree to which COFDI is driven by political versus economic considerations, the extent to which political considerations influence the overseas operations of Chinese multinational corporations (MNCs), or the political ramifications of COFDI for host countries, international institutions, or China’s interactions with third parties. Reviewing the Western literature, this article provides useful background information about COFDI, distills two general schools of thought about the politico-economy of COFDI—i.e., the “Beijing as Puppeteer” camp and the “Business of Business is Business” camp, and highlights a number of shortcomings with each. As well, it suggests a number of ways in which the extant literature can move forward and makes clear the importance of tracking the development of Chinese MNCs.

Vorheriger Artikel Building China’s Soft Power for a Peaceful Rise

Nächster Artikel Alastair Iain Johnston, Social States: China in International Institutions, 1980–2000

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Rui and Yip, “Foreign Acquisitions by Chinese Firms,” p. 213; and [5].

Wang, “The Motivations behind China's Government-Initiated Industrial Investments Overseas,” p. 188.

For some Beijing is a puppeteer. [10, 11]; and [12]. For others, economic factors are the key drivers. Rui and Yip, “Foreign Acquisitions by Chinese Firms,” pp. 213–214; and [13]

[15]

Wong and Chan, “China’s Outward Direct Investment,” pp. 275–276; and [16]

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Wong and Chan, “China’s Outward Direct Investment,” pp. 286–288.

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MOFCOM, 2008年度中国对外直接投资统计公报, pp. 6, 27–32.

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Wu, “The Globalization of Corporate China,” pp. 8–10; and Rosen and Hanemann, “China’s Changing Outbound Foreign Direct Investment Profile,” p. 4.

Rosen and Hanemann, “China’s Changing Outbound Foreign Direct Investment Profile,” p. 4; and Schüler-Zhou and Schüller, “The Internationalization of Chinese Companies”

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” p. 194.

Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 615.

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” p. 189.

Morck, Yeung, and Zhao, “Perspectives on China’s Outward Foreign Direct Investment,” pp. 340–341; and Schüler-Zhou and Schüller, “The Internationalization of Chinese Companies.”

Morck, Yeung, and Zhao, “Perspectives on China’s Outward Foreign Direct Investment,” pp. 343–344.

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Wong and Chan, “China’s Outward Direct Investment,” p. 279.

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Wu, “The Globalization of Corporate China,” p. 6; Lunding, “Global Champions in Waiting,” p. 11; and Hong and Sun, “Dynamics of Internationalization and Outward Investment,” pp. 619–620.

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Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 620.

Wong and Chan, “China’s Outward Direct Investment,” p. 283; and “Testimony of David Marchick.”

Wu, “The Globalization of Corporate China,” p. 7.

Ibid., pp. 19–20.

Wu, “The Globalization of Corporate China,” p. 19; Pamlin and Baijin, Re-think China’s Outward Investment Flows, pp. 19–20; and Rosen and Hanemann, “China’s Changing Outbound Foreign Direct Investment Profile,” p. 20.

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Lunding, “Global Champions in Waiting,” p. 5.

Morck, Yeung, and Zhao, “Perspectives on China’s Outward Foreign Direct Investment,” p. 349 fn(5).

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Rosen and Hanemann, “China’s Changing Outbound Foreign Direct Investment Profile,” pp. 20-21.

Pamlin and Long, Re-think China’s Outward Investment Flows, pp. 25–26; and Schüler-Zhou and Schüller, “The Internationalization of Chinese Companies.”

Deng, “Investing for Strategic Resources and Its Rationale,” pp. 72–74; and Rui and Yip, “Foreign Acquisitions by Chinese Firms,” p. 214.

Wong and Chan, “China’s Outward Direct Investment,” pp. 273–274; [20]; and “China’s forex reserve hits 2.1316 trln USD, up 17.84%,” People’s Daily Online, July 15, 2009, http://english.peopledaily.com.cn/90001/90778/90857/90859/6700773.html, accessed July 15, 2009.

Fung, Liu, and Kao, “China’s Outward Direct and Portfolio Investments,” pp. 54–56; and Morck, Yeung, and Zhao, “Perspectives on China’s Outward Foreign Direct Investment,” pp. 342–344.

Pamlin and Long, Re-think China’s Outward Investment Flows, p. 17.

Rui and Yip, “Foreign Acquisitions by Chinese Firms,” p. 217.

Wong and Chan, “China’s Outward Direct Investment,” pp. 284–285; and Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 624.

Wu, “The Globalization of Corporate China,” p. 11; and Hong and Sun, “Dynamics of Internationalization and Outward Investment,” pp. 624–625.

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” p. 200; and Wu, “The Globalization of Corporate China,” p. 11.

Ibid., p. 11.

Wong and Chan, “China’s Outward Direct Investment,” pp. 290–291; and Wu, “The Globalization of Corporate China,” pp. 24–26.

Wong and Chan, “China’s Outward Direct Investment,” pp. 284–285, 290, 298–299; Wu, “The Globalization of Corporate China,” pp. 11–12; and Hong and Sun, “Dynamics of Internationalization and Outward Investment,” pp. 620–622.

Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 622; Deng, “Investing for Strategic Resources and Its Rationale,” pp. 74–75; and Yip, “Foreign Acquisitions by Chinese Firms,” p. 216.

Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 623.

Wong and Chan, “China’s Outward Direct Investment,” pp. 285, 290–291; Wu, “The Globalization of Corporate China,” pp. 13, 24–26; and Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 623.

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Wu, “The Globalization of Corporate China,” pp. 22–24, 27.

Rui and Yip, “Foreign Acquisitions by Chinese Firms,” p. 216.

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” pp. 202–204; Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 625; and Morck, Yeung, and Zhao, “Perspectives on China’s Outward Foreign Direct Investment,” pp. 345–346.

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” p. 195.

Rosen and Hanemann, “China’s Changing Outbound Foreign Direct Investment Profile,” p. 11.

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Rui and Yip, “Foreign Acquisitions by Chinese Firms,” p. 217; and Morck, Yeung, and Zhao, “Perspectives on China’s Outward Foreign Direct Investment,” p. 347.

Rui and Yip, “Foreign Acquisitions by Chinese Firms,” pp. 218–220.

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” p. 194; Lunding, “Global Champions in Waiting,” pp. 6–7; and Hong and Sun, “Dynamics of Internationalization and Outward Investment,” p. 623.

Hong and Sun, “Dynamics of Internationalization and Outward Investment,” pp. 618–619.

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” p. 198.

Lewis, “Chinese NOCs and World Energy Markets,” esp. p. 61; and Lunding, “Global Champions in Waiting,” p. 4.

Wang, “The Motivations behind China’s Government-Initiated Industrial Investments Overseas,” p. 204; Lunding, “Global Champions in Waiting,” p. 6.

On China’s Harmonious World policy, see, Sujian Guo and Jean-Marc F. Blanchard, eds., Harmonious World and China’s New Foreign Policy (Lanham: Rowman & Littlefield-Lexington Books, 2008). On Wen’s trip to Africa, see “Chinese Premier Encourages Chinese Companies to Contribute to Africa’s Development,” People’s Daily Online, November 7, 2009, http://english.peopledaily.com.cn/90001/90776/90883/6806589.html, accessed November 7, 2009.

Rosen and Hanemann, “China’s Changing Outbound Foreign Direct Investment Profile,” p. 12.

“China Issues New Rules to Promote, Regulate Outbound Investment.”

“Mandatory Environmental Measures to Roll Out for Chinese Companies’ Overseas Projects,” People’s Daily Online, May 29, 2009, http://english.peopledaily.com.cn/90001/90778/90857/90861/6667414.html, accessed 10/28/2009.

Pamlin and Long, Re-think China’s Outward Investment Flows, p. 13.

“China Issues New Rules to Promote, Regulate Outbound Investment.”

“Chinese Premier Encourages Chinese Companies to Contribute to Africa’s Development.”

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Pamlin and Long, Re-think China’s Outward Investment Flows, pp. 34–41.

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Titel: Chinese MNCs as China’s New Long March: A Review and Critique of the Western Literature
verfasst von: Jean-Marc F. Blanchard
Publikationsdatum: 01.03.2011
Verlag: Springer Netherlands
Erschienen in: Journal of Chinese Political Science / Ausgabe 1/2011
Print ISSN: 1080-6954
Elektronische ISSN: 1874-6357
DOI: https://doi.org/10.1007/s11366-010-9131-1

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