中国的外国直接投资政策和台湾在中国的直接投资（TDI）外文翻译.docVIP

外文翻译 原文 China’s FDI Policy and Taiwanese Direct Investment (TDI) in China MaterialSource:Department of Economics Author: Jack W. Hou 1. Introduction As we begin the new millennium, there can be no doubt that Asia will be one of the most economically vibrant areas in the world. Indeed, this has been a continuous development for the past four decades. Since the resurrection of Japan in the 1960s-70s, Asia (especially East Asia) has shown the uncanny ability of almost unbridled growth and development. In the 1980s, the Four Small Tigers took-off and created a new terminology, newly industrialize countries (NICs),1 while the spectacular growth of China has made her the second largest economy in the world. In between, we also see the emergence of the successors of the Four Small Tigers; be it Thailand, Malaysia, Indonesia, Philippines, or Vietnam. Though the area has seen some hard times recently, from the burst of Japan’s bubble economy to the Asian Financial Crisis, recovery is well on its way and most economists would agree that Asia will emerge stronger than before as their economic institutions have undergon significant reform (for the better). Nowhere in the world can one see the bustling markets and the vibrant demonstration of entrepreneur spirit. 1 The Four Small Tigers, along with Israel, were reclassified as “advanced economies” in 1997 by the International Monetary Fund (IMF). These are all well documented and have contributed to the phenomenal success of the growth in the region, especially in terms of trade (Hou, et al, 1995). What is perhaps less understood or emphasized is the unique multilateral interdependency of the economies that is continuously accelerating. This is not just trade of goods and services, but increasing in terms of capital movements, especially in foreign direct investment (FDI). Japan has always been the largest investor, but recently the NICs are also exhibiting significant capital outflow. For example, Hong Kong is th