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Home » Opinion » Chinese Views
Overseas investment a win-win
By Mo Huaying and Fei Liena |
April 27, 2009, Monday
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AS China's reform and opening-up deepens, an increasing number of Chinese companies have started to leave their native land in search of international expansion.
Chinese companies are just like foreign businesses. Their "going-out" moves, or what we call overseas expansion, are normal in the current global free trade system. It's neither a "surprise" nor a "threat."
Tim Harcourt, chief economist of the Australian Trade Commission, gives an example. In the 1990s, cash-rich Japan flooded Australia with investments, causing worry and concern in the country. The Australians relaxed, however, after seeing the advantages, such as increased employment and new products and technology, that the Japanese investments brought.
The same thing will happen with Chinese investments, Harcourt said. He said that after several years, Australians will again realize that their concern is unnecessary. Instead, he said, they might actually applaud and welcome the investments.
Hand in hand with the going out are opportunities, not only for the Chinese companies, but also for the target countries, especially those with businesses mired in the economic quicksand of the financial crisis.
In addition to supporting the world economy, the "going-out" strategy of Chinese companies aims to increase investments and construction in African nations, especially those less developed.
To see the "going-out" policy with a cool head means people should look at China's development and globalization with an objective and long-term vision.
"China needs to enter the world market for further development," said Japan's Toyo Keizai Weekly. "Although some people talk about the 'China threat,' China still needs to develop."
The Wall Street Journal also pointed out that the world should welcome China's companies and investment in the same manner as those from other countries.
After all, that is the essence of international free trade and competition.
(The authors are writers at Xinhua news agency.)
Chinese companies are just like foreign businesses. Their "going-out" moves, or what we call overseas expansion, are normal in the current global free trade system. It's neither a "surprise" nor a "threat."
Tim Harcourt, chief economist of the Australian Trade Commission, gives an example. In the 1990s, cash-rich Japan flooded Australia with investments, causing worry and concern in the country. The Australians relaxed, however, after seeing the advantages, such as increased employment and new products and technology, that the Japanese investments brought.
The same thing will happen with Chinese investments, Harcourt said. He said that after several years, Australians will again realize that their concern is unnecessary. Instead, he said, they might actually applaud and welcome the investments.
Hand in hand with the going out are opportunities, not only for the Chinese companies, but also for the target countries, especially those with businesses mired in the economic quicksand of the financial crisis.
In addition to supporting the world economy, the "going-out" strategy of Chinese companies aims to increase investments and construction in African nations, especially those less developed.
To see the "going-out" policy with a cool head means people should look at China's development and globalization with an objective and long-term vision.
"China needs to enter the world market for further development," said Japan's Toyo Keizai Weekly. "Although some people talk about the 'China threat,' China still needs to develop."
The Wall Street Journal also pointed out that the world should welcome China's companies and investment in the same manner as those from other countries.
After all, that is the essence of international free trade and competition.
(The authors are writers at Xinhua news agency.)
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