In North America and Europe, average people never imagine that one day most of them could be working for Chinese companies in their own countries. They had better be prepared.
In North America and Europe, average people can feel China’s influence in their daily life when they purchase goods imported from China. However, they never imagine that one day most of them could be working for Chinese companies in their own countries.
They had better be prepared. With the projection that Chinese investment in US companies could reach $2 trillion (1.5 trillion euros) in the coming decade, Bloomberg Businessweek magazine recently assembled a panel of experts to explain Sino-American cultural differences and Confucian principles that could get an uninformed American office worker into trouble. The magazine then published a report titled “How to Impress Your Chinese Boss”.
How influential is China’s foreign direct investment in the global economy? Let’s look at the numbers. China’s annual foreign direct investment reached $60 billion in 2010, which made it one of the world’s top 10 investors. In 2011, China’s total global FDI saw a growth of over 14 percent.
By the end of this year, there were 18,000 Chinese firms in 177 countries with a total foreign direct investment of $365 billion and assets totaling $2 trillion. However, Chinese FDI also shows a unique pattern. State-owned firms account for more than 70 percent of the total, and most of the investments are in natural resource projects, largely in low-income countries.
There is some evidence that Chinese FDI has a great impact in these nations.
Among them, Asia and sub-Saharan Africa are the major destinations for roughly 95 percent of the total Chinese FDI. Sub-Saharan nations accounted for 60-70 percent of these investments.
The Chinese private sector’s impact in sub-Saharan nations is slowly gaining importance. A recent survey shows that among the 800 Chinese companies operating in Africa, nearly 85 percent are privately owned and mostly small and medium-sized enterprises. These private firms also play an important role in the local economy.
China’s large State-owned companies generally focus on resources and construction projects, while private ones tend to concentrate on manufacturing and service industries. For construction projects, Chinese State-owned companies prefer to bring in their own workers and rely little on the local labor market.
See the article here:
Making the right moves …
Large Shopping Malls in Bangkok Will Be Closed until July 25th
Shopping malls under the Mall Group, including all branches of The Mall, the Emporium, Emquartier and Paragon Department Store, are also closed for 14 days, from today, except for supermarkets, food courts, pharmacy shops, eateries (take-out and delivery only), banks, mobile phone shops and vaccination sites.
Downside risks loom for Thai economy due to Prolonged COVID-19 Outbreak
The most important issue for the Thai economy at present would be the procurement and distribution of appropriate vaccines adequately and timely.
The Bank of Thailand (BoT) has revealed that Thailand’s economy faces significant downside risks, because a prolonged COVID-19 outbreak could cause the economy to underperform the baseline projection, squeezing business liquidity and slowing employment.(more…)
Subscribe via Email
Thai baht becoming the region’s worst-hit currency in COVID pandemic
According to data from its tourism ministry as well as the World Bank, Thailand had only a little over 34,000...
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...