Expansion of Trade and FDI in Asia
Foreign direct investment flows have increased dramatically in recent decades and continue to be a driving factor of economic globalisation. As a growth pole in the world economy, large parts of Asia in particular have become an attractive place for market-seeking FDI. In a high number of Asian countries FDI restrictions have been reduced, leading to accelerated technological exchange and globally integrated production and marketing networks. Overall, this has positively benefited the emerging countries that have opened their doors to FDI.
Expansion of Trade and FDI in Asia explores the trends of present FDI in Asia and their effects on multilateral regulation of FDI. It reviews the increasing attraction of FDI and the rise of Asian transnational corporations (TNCs) from an economic perspective. It also investigates the legal side of the development, in particular the changes in bilateral and regional FDI regulation, and the lessons that could be learned for international investment agreements (IIAs) and the constitution of trading blocs.
This book will be of interest to postgraduates and academics interested in Asian studies, Asian economics and international economics.
Julien Chaisse is Alternate Leader at the World Trade Institute, Bern, Switzerland. He coordinates the project research on investment international rules within the NCCR (National Centre of Competence in Research). He is Associate Professor at the University of Antwerp, Belgium. He is the co-editor of Essays on the Future of the World Trade Organization (2008).
Philippe Gugler holds the Chair of Economic and Social Policy at the Faculty of Economics and Social Sciences of the University of Fribourg. He is Director of the Centre for Competitiveness at the same university. Professor Gugler is Project-leader on investment policies within the NCCR (National Centre of Competence Research) International Trade located at the World Trade Institute.
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Edited by Julien Chaisse and Philippe Gugler
Expansion of Trade and FDI in Asia
Strategic and policy challenges
Edited by
Julien Chaisse and Philippe Gugler
First published 2009
by Routledge
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Simultaneously published in the USA and Canada
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This edition published in the Taylor & Francis e-Library, 2009.
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2009 Editorial selection and matter, Julien Chaisse and Philippe Gugler; Individual chapters, the contributors
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British Library Cataloguing in Publication Data
A catalogue record for this book is available from the British Library
Library of Congress Cataloging in Publication Data
Expansion of trade and FDI in Asia: strategic and policy challenges / edited by Julien Chaisse and Philippe Gugler.
p. cm.
1. Investments, ForeignAsia. 2. International business enterprises Asia. I. Chaisse, Julien. II. Gugler, Philippe.
HG5702.E95 2009
332.673095dc22 2008044832
ISBN 0-203-87899-X Master e-book ISBN
ISBN10: 0-415-49084-7 (hbk)
ISBN10: 0-203-87899-X (ebk)
ISBN13: 978-0-415-49084-9 (hbk)
ISBN13: 978-0-203-87899-6 (ebk)
Illustrations
Figures
FDI in China and India, as a percentage of GDP
Chinas total outward FDI flows
Distribution of Chinese outward FDI flow and stock by industry (2006)
Chinas outward FDI flow (A) and stock (B) to Africa, Europe, North America and Oceania (non-financial)
China's outward FDI flow (A) and stock (B) to Asia (incl./excl. Hong Kong), and Latin America (incl./excl. Cayman and Virgin Islands)
Extent of achievement of goals sought by FDI (percentage of firms)
International acquisitions by Indian firms
Dynamics of convergence: trajectories of firms and generalized competition
Chinese overseas investments (inflow) (including finance part) (19902006)
Comparisons of Chinese ODI (in stock) with those of the developed countries (20052006)
Comparisons of Chinese ODI (in stock) with those of the developing countries (20052006)
FDI inflows, growth, fixed capital formation and exports
BTAs of countries in ASEAN, APEC and South Asia by status, cumulative as of January 2008
The different motivations for forming BTAs: specific factors
WTO and AFTA liberalization: different scenarios
Stylized welfare effects of different remedies
Rules of origin and trade diversion
Responses of CAB and DKAB to an unanticipated shock
Tables
Outward FDI stocks as percentage of GDP
Outward FDI flows as percentage of GDP
Net FDI inflows for South Asian countries (20052006)
The 30 largest Chinese companies as of 2006, ranked by outward FDI stock
The largest acquisition deals worldwide (20002006)
The largest acquisition deals in the Asia-Pacific (20002006)