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1、原文：ForeignDirectInvestmentinChinaandEastAsiaRecentPolicyConcernsItisnothardtofindvariousanalysts,commentatorsandpolicymakersinAsiawhohavevoicedconcernsabouttheemergenceofChinaandthatChinaisadverselyaffectingdirectinvestmentflowsintotheireconomies.InNove
2、mber2002,SingaporeanDeputyPrimeMinisterLeeHsienLoong(whohassincebecomethePrimeMinisterofSingapore)commentedthat“SoutheastAsiancountriesareunderintensecompetitivepressure,astheirformeractivities,especiallylabor-intensivemanufacturing,migratetoChina.Onein
3、dicatorofthismassiveshiftisthefactthatSoutheastAsiausedtoattracttwiceasmuchforeigndirectinvestmentasNortheastAsia,buttheratioisreversed.”(ChinaOnlineNovember14,2002).AccordingtoKOTRA,thestate-runtradeandinvestmentpromotionagencyoftheRepublicofKorea,ther
4、ateofforeigndirectinvestmentinmostAsiancountriesisfallingasglobalinvestorsarebeingdrawntoinvestinChina(RepublicofKoreaTimesAugust27,2002).WorldEconomicForumdirectorforAsia,FrankJ.Richter,saidiftheAsiancountriesdonottakeprudentandpragmaticstepstobeascomp
5、etitiveasChina,theforeigndirectinvestmentflowsintotheseeconomieswouldbeadverselyaffected(NewStraitsTimes-ManagementTimesMarch9,2002).Furthermore,Taiwan’sVicePremierLinHsin-IsaidthatfacingtherapidriseoftheMainlandChineseeconomy,Taiwanwouldhavetotakeeffec
6、tivemeasurestoincreaseitscompetitiveness.Taiwanhastoimplementthe“gosouth”policytoencourageTaiwantoswitchtheirinvestmentsfromtheMainlandtoSoutheastAsiancountries(TaiwaneseCentralNewsAgencyNovember21,2002).IsChina'sFDIpolicyafriendoranenemytoitsAsianneigh
7、bors?WhatdeterminesforeigndirectinvestmentflowsintotheAsianandothereconomies?Istherea“ChinaEffect”?Togetsomeinsightsastowhatmethodologyweshouldpursue,wenowlookatselectivelysomerelevantacademicliterature.Brainard(1997)empiricallyexaminesthedeterminantsof
8、theratioofU.S.exportsalestototalforeignsales(thesumofexportsalesbysalesbyforeignaffiliates)byindustry.Sheusesaframeworkoffocusingonfactorsthatfavorconcentrationofproduction(i.e.favoringexports)vs.proximitytooverseascustomers(i.e.
