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1、外文翻译原文HistoricandEmergentTrendsinChineseOutwardDirectInvestmentMaterialSource:ManagementInternationalReviewAuthor:PeterJ.Buckley1,AdamR.Cross2,HuiTan3,LiuXin4,HinrichVoss5IntroductionAsubstantialbodyofliteraturehasgrownontheprominenceofChinaasarecipientofforeigndirectinvestment
2、(FDI)anditsconsequencesfornationaleconomicdevelopmentandmanagementpractice(Branstetter/Lardy2006).Bycontrast,muchlessattentionhasbeenpaidtoChina'spositionasanFDIsource.GiventhatChinaattractedanannualaverageFDIinflowofaroundUS$29bn(ormorethan7percentoftheworld'stotal)inthe1990s,
3、butcontributedlessthanUS$2.5bn(around0.6percent)toglobaloutflows,thisisperhapsnotsurprising(UNCTAD2006).However,thesharpgrowthinChineseoutwarddirectinvestment(ODI)evidentsince2002(illustratedinFigure1),combinedwithanumberofrecenthighprofileattemptsbyChineseenterprisestoacquireN
4、orthAmericanandEuropeanfirms,havebroughtintoreliefChina'srisingstatusandpotentialasaninvestornation.ThispotentialisrecognizedinarecentUNCTADsurveyofinvestmentpromotionagencieswhichpredictsthatChinawillbecomea'topthree*sourcecountryforFDIbeforetheendof2008(UNCTAD2005).Itisalsohi
5、ghlightedbytheDirector-GeneralofUNIDO,KandehYumkella,whosuggeststhatannualflowsofChineseoutboundinvestmentarelikelytoreachUS$60bnby2010(MOFCOM2006).IfgrowthratesinChineseODIcontinueandthesepredictionsarerealized,China'scontributiontoglobalFDIflowsislikelytoapproximatecurrentout
6、flowsoftheleadingindustrializedcountries.Inthisexploratorystudy,weidentifyhistoricandemergenttrendsdetectableinofficialaggregatedataandindividualFDIprojectleveldataonChineseODIfortheperiod1991to2005withregardtoinvestmentdestination,activitytype,entrymodechoiceandinvestmentmotiv
7、ation.OuraimistoassesswhetherornotChineseODIconformstothegeneralmodelofODIandtothespecialcaseofemergingcountryODIingeneral,andAsiancountriesinparticular,withrespecttothecharacterandevolutionofitsrecentODI.Todothis,wereviewinthenextsectionsomeselectedcontributionstotheliterature
8、ondevelopingcountryODIinordertoestablishadeceivedwisdo
