Trade and Investment Integration and China's Strategy

Author: Zhang Erzhen
Publisher:
Publish Date: 2004-01-01
Features: This book is the research outcome of the National Philosophy and Social Science Fund Project of 2001 titled "Trade and Investment Integration and the Adjustment of China's Open Economy Development Strategy." Broadly speaking, trade and investment integration refers to a high degree of integration, interdependence, symbiotic development, and unity in contemporary international trade and foreign direct investment. This integration is not only manifested in the high consistency of trade and investment flows and their synchronization in time but also in the complementary coexistence and interactive development of international trade and foreign direct investment. Narrowly defined, it refers to the integration phenomenon where multinational corporations, through the global allocation and utilization of resources for global production and operations, arrange an increasing amount of international trade and foreign direct investment around the value chains of their global production, resulting in interdependence, joint effects, and symbiotic growth. Although the process of trade and investment integration globally has developed rapidly, no influential theory widely accepted by the academic community has emerged so far. This book conducts a preliminary exploration and research on the phenomenon of trade and investment integration, aiming to provide some reference for the adjustment of China's open economy strategy after joining the WTO.