国际商务英语课文电子版lesson (19).doc

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1、Lesson19ForeignDirectInvestment•Foreigndirectinvestmentisthemajorformofinternationalinvestment,whereby（throughFDI）residentsofonecountryacquire获得assetsinaforeigncountryforthepurposeofcontrollingandmanagingthem.WhydoesFDIoccur?Aninstinctive本能的answertotheq

2、uestionbymanypeoplemaybethattheratesofinvestmentreturns（投资回报率）arehigherinaforeigncountry.Thisanswer,thoughseemingly似乎plausible似乎有理的,isactuallyfarfetched牵强的.JustthinkofthefactthatBritainisbothamajorsourceofFDIintheUnitedStatesandanimportantdestinationfor

3、FDIfromthecountry.WecannotsaytheratesofinvestmentreturnsintheUnitedStatesisatthesametimehigherthanthoseinBritain(whichexplainsinvestmentintoit)andlower(whichjustifies说明…的理由capitalflowtotheoppositedirection).我们不能说，因为美国的投资收益率高于英国的投资收益率，所以资金流向美国。同时，又因为美国的投

4、资率低于英国的投资率，所以资金又同时流向英国。Weshouldthereforelookformorespecificfactorsinfluencingafirm’sdecisiontoundertake（toengagein从事）FDI.TheUSASourceDestinationTheUKSourceDestinationControllingcostsisthefirstmajormotivationforengaginginFDI. Andlowering①productioncostsi

5、sanimportantconsideration.Aforeigncountrymayhavelowerlandprices,taxratesorcostoflabor,allofwhichwillreducetheproductioncoststoaconsiderabledegree,makingforeignlocationsmoreattractive.②Transportationcostwhichmaybeverysignificant很大forsomeproductssuchasbev

6、erageswillalsoencourageanenterprisetoengageinproductionintheforeignmarketthroughFDItosave节省thefeesforlongdistancetransportation.Gainingaccesstonaturalresources（获得自然资源）isanothermajormotivationforfirmstoundertakeFDI.Integrated（综合性的－开采、炼油与销售）oilcompanies,f

7、orexample,ofteninvestabroadtoobtainaccesstonewoildeposits（油田,油矿）whendomestic(oil)reserves石油矿藏aredecreasing.Someinternationalenterprisesnegotiatewithhostgovernments东道国政府foravailability获得ofrawmaterialsinreturnforFDI.Forinstance,aPhilippinecompanyinvestedi

8、nbuildingtunacanneriesonanIndonesianislandaspartofadealwiththeIndonesiangovernmenttoallowsomePhilippinetunaboatstofishitsseas.Sometimesitmaybemoreadvantageous更加有利的toinvestinforeignfirmsforthepurposeofutilizing利用theirexisting现有的ad