A New Model for Chinese Overseas Investment
Chinese outward investment is forecast to triple by 2020, to some $20 trillion, putting China behind only the US. But moving quickly to invest overseas – while appealing to many in China – will be highly risky, unless policymakers and companies alike learn from past failures.
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BEIJING – Two Chinese initiatives – “One Belt, One Road” (OBOR) and “International Production Cooperation” – encapsulate President Xi Jinping’s views on overseas investment. Both slogans are supported by development approaches (the former in Eurasia, the latter globally) that signal China’s desire to forge a new model of globalization built on mutual cooperation.