了解对外直接投资外文翻译雪蛤炖木瓜
外文翻译
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Understanding Foreign Direct Investment FDI四喜丸子做法
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_foreign_direct_investment.htm Author: Jeffrey P. Graham and R. Barry Spaulding
Foreign direct investment FDI plays an extraordinary and growing role in global business. It can provide a firm with new markets and marketing channels, cheaper production facilities, access to new technology, products, skills and financing. For a host country or the foreign firm which receives the investment, it can provide a source of new technologies, capital, process, products, organizational technologies and management skills, and as such can provide a strong impetus to economic development. Foreign direct investment, in its classic definition,is defined as a company from one country making a physical investment into building a factory in another countryThe direct investment in buildings, machinery and equipment is in contrast with making a portfolio investment, which is consider高兴事
ed an indirect investment. In recent years, given rapid growth and change in global investment
patterns, the definition has been broadened to include the acquisition of a lasting management interest in a company or enterpri outside the investing firm’s home country. As such, it may take many forms, such as a direct acquisition of a foreign firm, construction of a facility, or investment in a joint venture or strategic alliance with a local firm with attendant input of technology, licensing of intellectual property,In the past decade, FDI has come to play a major role in the internationalization of business. Reacting to changes in technology, growing liberalization of the national regulatory framework governing investment in enterpris, and changes in capital markets profound changes have occurred in the size, scope and methods of FDI. New information technology systems, decline in global communication costs have made management of foreign investments far easier than in the past. The a change in trade and investment policies and the regulatory environment globally in the past decade, including trade policy and tariff liberalization, easing of restrictions on foreign investment and acquisition in many nations, and the deregulation and privation of many industries, has probably been the most significant catalyst for FDI expanded role The most profound effect has been en in developing countries, where yearly foreign direct investment flows have incread from an average of less than $10 billion in the 1970’s to a yearly average of less than $20 billion in the 1980’s, to explode in the 1990s from $26.7billion in 1990 to $179 billion in 1998
小乌龟儿歌and $208 billion in 1999 and now compri a large portion of global FDI Driven by mergers and acquisitions and internationalization of production in a range of industries, FDI into developed countries last year ro to $636 billion, from $481 billion in 1998 Source: UNCTAD Proponents of foreign investment point out that the exchange of investment flows benefits both the home country the country from which the investment originates and the host country the destination of the investmentOpponents of FDI note that multinational conglomerates are able to wield great power over smaller and weaker economies and can drive out much local competitionThe truth lies somewhere in the middle.
For small and medium sized companies, FDI reprents an opportunity to become more actively involved in international business activitiesIn the past 15 years, the classic definition of FDI as noted above has changed considerablyThis notion of a change in the classic definition, however, must be kept in the proper context. Very clearly, over 2/3 of direct foreign investment is still made in the form of fixtures, machinery, equipment and buildings. Moreover, larger multinational corporations and conglomerates still make the overwhelming percentage of FDI. But, with the advent of the Internet, the increasing role of technology, looning ofdirect investment restrictions in many markets and decreasing communication costs means that newer, non-traditional forms of investment will play an important role in the future Many
governments, especially in industrialized and developed nations, pay very clo attention to foreign direct investment becau the investment flows into and out of their economies can and does have a significant impactIn the United States, the Bureau of Economic Analysis, a ction of the U.S. Department of Commerce, is responsible for collecting economic data about the economy including information about foreign direct investment flowsMonitoring this data is very helpful in trying to determine the impact of such investments on the overall economy, but is especially helpful in evaluating industry gments. State and local governments watch cloly becau they want to track their foreign investment attraction programs for successful outcomes.歼灭眼
How Has FDI Changed in the Past Decade As mentioned above, the overwhelming majority of foreign direct investment is made in the form of fixtures, machinery, equipment and buildings. This investment is achieved or accomplished mostly via mergers & acquisitions. In the ca of traditional manufacturing, this has been the primary mechanism for investment and it has been heretofore very efficientWithin the past decade, however, there has been a dramatic increa in the number of technology startups and this, together with the ri in prominence of Internet usage, has fostered increasing changes in foreign investment patterns. Many of the high tech startups are very small companies that have grown out of rearch & development projects often affiliated with major universities
and with some government sponsorship. Unlike traditional manufacturers, many of the companies do not require huge manufacturing plants and immen warehous to store inventory. Another factor to consider is the number of companies who primary product is an intellectual property right such as a software program or a software-bad technology or process. Companies such as the can be houd almost anywhere and therefore making a capital investment in them does not require huge outlays for fixtures, machinery and plants.
千层马蹄椰汁糕In many cas, large companies still play a dominant role in investment activities in small, high tech oriented companies. However, unlike in the past, the larger companies are not necessarily acquiring smaller companies outrightThere are veral reasons for this, but the most important one is most likely the risk associated with such high tech venturesIn the ca of mature industries, the products are well defined. The manufacturer usually wants to get clor to its foreign market or wants to circumvent some trade barrier by making a direct foreign investment. The major risk here is that you do not ll enough of the product that you manufactured. However, you have added additional capacity and in the ca of multinational corporations this capacity can be ud in a variety of ways
High tech ventures tend to have longer incubation periods. That is, the product tends to require signif
icant development time. In the ca
