CHINA GOES GLOBAL.docVIP

CHINA GOES GLOBALChina’s reemergence as a global economic superpower during the end of the 20th and into the early 21st century was marked by a long list of firsts， milestones and eye-popping statistics.The 1990-2014 period saw China become the largest manufacturing and export country in the world. China gained admittance to the WTO， became a host of the Olympics and saw its cities become some of the largest in the world. Its economy boomed， and it became the largest consumer market. A Chinese company became the world’s biggest e-commerce player. Its auto market surpassed all others in growth. Finally， its crowning achievement was becoming the world’s second largest economy.Many policies， events and factors combined to make all of this possible， including the government’s long-term planning and willingness to experiment， the entrepreneurial passion of the people and the opening up to world markets. In turn， the world embraced China. Privatization and the modernization of old businesses and an emergent middle class resulting from massive job growth and urbanization， also contributed to the phenomenon of China’s growth.However， one of the key foundations for all of this success was foreign direct investment， or inbound investment into China. No amount of policy changes， entrepreneurial spirit， technological development or urbanization could count for anything unless the money to build new businesses and industries and to institute new policies was not made available.Thirty years ago， the West had the money， the banks， the companies， the experience and the desire to invest abroad， and a great deal of this investment went to China. Companies from regions and countries such as Hong Kong， Taiwan， Singapore， the United States and Europe invested in making the Chinese mainland the workshop and marketplace of the world. Eventually， they invested in providing Chinese citizens with the products and services they needed and desired. The West also had the wealth and the insatiab