Global Integration and Growth: Rebalancing the Economy
Global Integration and Growth: Rebalancing the Economy
China has been a particularly successful example of utilising policy to attract foreign direct investment (FDI) in order to develop manufacturing and export capacity to support its early growth. Recently, it has also begun to promote outward FDI as part of its firms’ ‘going global.’ In the twenty-first century, China is practising a ‘going out, bringing in’ policy. Its ‘open door’ policy has been supplemented by the ‘going out’ of its firms as well as ‘pulling in’ FDI. This is a key part of China’s future growth; that is dependent on the ability to produce globally competitive corporations that will help China move up the value chain and sustain its development through this new form of global integration.
Keywords: global integration, international trade, foreign direct investment, outward investment, industrial policy, export capacity
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