Chinese outward direct investment in Southeast Asia

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1、ThePacificReview,Vol.17No.32004:323-340IJRoutledgeg^Tayior&FrancisCroupChineseoutwarddirectinvestmentinSoutheastAsia:howbigaretheflowsandwhatdoesitmeanfortheregion?StephenFrostAbstractAsrecentlyas2002,SoutheastAsianpoliticiansandbusinessleadersfrettedpubliclyabo

2、utlosingforeigndirectinvestment(FDI)originallyearmarkedfortheregiontoChina.Theyaremoresanguinethesedays.ChinesecompaniesnotonlylooktoSoutheastAsiatosupplyrawmaterialstofeedChina'sindustrialization;theyareincreasinglyinvestingthere.AnalystsunderstandablyfocusonCh

3、inasuckinginoverUS$50billionofinwardFDIperyear-someofwhichwasindeedpreviouslyearmarkedforSoutheastAsia-butindoingsotheyrarelynoticethattheflipsideofChineseinvestmentistherisingwaveofmainlandoutwarddirectinvestment(ODI),particularlyintoneighbouringcountries.Thisp

4、apernotesthetrendbywayofapreliminaryinvestigationintotwobroadissues:whatsortofmainlandcompaniesaremovingintoASEANandhowmucharetheyinvesting;andwhatarethepotentialeffectsofthatinvestment?Initialdatasuggestthatmostmainlandinvestmentcomesviastate-ownedenterprises(S

5、OEs).AndalthoughitisimpossibletoknowhowmuchmainlandmoneyflowsintoSoutheastAsia,itiscertainlymorethantheUS$2billionfor2002citedinofficialChinesestatistics.Growing(ChineseinvestmentinASEANhasimportantimplications,twoofwhicharebrieflycanvassed:theeffectofincreasing

6、Chineseinvestmentonsanctionsregimesdesignedtoimprovehumanrights(withspecificreferencetoBurma),andwhetherpressurecanbemaintainedonforeigninvestorstocomplywithinternationallabourstandardsinthefaceofChineseinvestment.KeywordsSoutheastAsia;China;OutwardDirectInvestm

7、ent(ODI);ForeignDirectInvestment(FDI);State-ownedEnterprises(SOE).StephenFrostisaresearchfellowattheSoutheastResearchCentreattheCityUniversityofHongKong.HisresearchinterestsincludelabourinSoutheastAsiaandChina,theflowandinfluenceofintra-Asianinvestmentonindustri

8、alrelations,andcorporatesocialresponsibility.HehaspublishedrecentlyinAsianPerspective,IntemationalJournalofOccupationalandEnvironmentalHealthandco-editedthe2002public