By G. Yeung
This publication investigates the explanations and socio-economic results of international direct funding within the Dongguan municipality of southern China throughout the Nineteen Nineties. in accordance with entire quantitative and qualitative study, it illustrates that the influx of of overseas capital has either "desirable" and "undesirable" socio-economic results. Yeung proposes a brand new "dynamic symbiosis" paradigm of international direct funding with a purpose to light up the advanced political and socio-economic relationships of the realm.
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Additional resources for Foreign Investment and Socio-Economic Development in China: The Case of Dongguan (Studies on the Chinese Economy)
Moreover, a number of Hong Kong-originating small to medium-sized foreign-ﬁnanced enterprises (classiﬁed as WFVs by deﬁnition) in Guangdong are registered as ‘collective enterprises with P&A operation’ to avoid the minimum investment capital requirement and bureaucracy required by the WFV law. , 1990, p. 5). This is possible because Chinese laws governing foreign investment, such as the Chinese–Foreign Equity Joint Venture Law, the Chinese–Foreign Contractual Joint Venture Law and the Foreign Capital Enterprise Law, do not deﬁne clearly what kind of company can be considered as ‘foreign’ (Wang, 1995, p.
The development of infrastructure improves the investment environment, which in turn is likely to Theoretical Foundation 35 increase the attractiveness of the host country for foreign investment. There is no reason to expect that Dongguan is an exception. Economic restructuring The inﬂow of foreign investment assists the sectoral restructuring of the host country. It will lead to the development of domestic industries and an improvement in the efﬁciency of local industry. The inﬂow of foreign capital might be accompanied by the establishment of new industries, which might not emerge naturally from locally-funded enterprises or from the upgrading of existing domestic industries.
The theory of industrial organization adopts the ﬁrm- or industryspeciﬁc approach to analyze the characteristics of TNCs and that market structure. 1). In fact, some Japanese scholars (for example, Kojima (1977, 1978, 1985) and Ozawa (1979a, 1979b)), criticize its inability to explain Japanese-type FDI, which is based on locational factors rather than oligopolistic market structures, technological orientation and product differentiation. 1): 26 Foreign Investment and Development in China ● ● ● ● Availability and the real costs of production factors.
Foreign Investment and Socio-Economic Development in China: The Case of Dongguan (Studies on the Chinese Economy) by G. Yeung