Suchergebnisse

Ten or fifteen years ago global business was mainly in the hands of a select number of multinational giants. Small and medium-sized business concentrated on their home markets and perhaps one or two neighboring countries. Not so any longer. Even the smallest businesses have realized that they have something to market in distant countries. Under these circumstances, Chinese companies of all sizes in various industries have recently opened to foreign competition. According to the Chinese Commerce Ministry's new release on relevant report, the Chinese foreign investment reached a new record of 26,51 billion US-Dollars in 2007. This represented a growth of 25,3 percent compared to 2006. After the quantity expansion, the quality offensive comes silently. Today, Chinese companies throw not only millions of T-Shirts, toys or plastic bowls in the international market but also wireless LCD-televisions, telecom-equipment and precision tools as well. Chinese companies have realized that a competitive advantage based on low costs, low prices and large quantities in a global economy cannot defend itself long. Consequently, they focus consistently on innovation and brands. In addition, China's globalization also needs strong mental forces. China does not just want to be a world factory, but instead be an internationally competitive market place that Western competitors already are.In the involvement of Chinese companies abroad aimed at specific markets, several strategies are recognizable. German and European companies are facing new chances and challenges at the same time. People must correctly assess the situation and corporate strategies and business concepts, with which they respond effectively and sustainably. The following questions are the focus:In what areas and branches do Chinese companies concentrate in German market? Which Chinese companies go

AbstractExisting studies on the global expansion of banks have been mostly based on the experience of the banks from more developed economies, while little is known about the geographies of internationalization of banks from less developed countries. The expansion of Chinese banks, with state‐owned commercial banks in the lead, has been accelerating since the Belt and Road Initiative (BRI) was proposed in 2013. This study contributes to existing research by providing new evidence and explanations based on the case of expansion of Chinese banks along the BRI routes. Chinese banks started to expand from Hong Kong and Macao, then expanded to Southeast Asia and the Arabian Peninsula, and finally reached Central Asia and other regions. The branches of Chinese banks are mainly clustered in Southeast Asian countries rather than other regions. Similar to their Western counterparts, Chinese bank branches are inclined to agglomerate in international or regional financial hubs. The regression analysis shows that two factors are crucial in explaining the spatial distribution of Chinese banks along the routes of the BRI. First, Chinese banks are likely to follow their customers, namely, state‐owned firms from the non‐financial sectors making direct investments in overseas regions. Second, Chinese banks are more inclined to open branches in countries that have good geopolitical relations with China reflecting the challenging international environment for Chinese banks to seek global expansion.

PurposeAs a crucial institutional form established since the Chinese economic reform, the system of competitive local governments has been shaping the characteristics of China's socialist market economy to a considerable degree.Design/methodology/approachThis study not only adopts the view of existing studies that attribute the economic motive of local governments to rent and consider land public finance as a means through which local governments carry out strategic investment but also attempts to further develop the view within a Marxist analytical framework.FindingsAs a result, the local governments have helped to maintain an incredibly high investment rate over a considerable period of time, facilitating the continuous, rapid growth of the Chinese economy.Originality/valueThis study concludes that China's local governments function as the productive allocator and user of rent in the strategic investment based on land public finance and thereby embed themselves in the relative surplus-value production initially arising from competition amongst enterprises, forming the dual structure of relative surplus-value production unique to China's economy.

We study the impact of political intervention on a financial system that consists of banks and financial markets and develops over time. In this financial system, banks and markets exhibit three forms of interaction: they compete, they complement each other, and they co-evolve. Co-evolution is generated by two new ingredients of financial system architecture relative to the existing theories: securitization and risk-sensitive bank capital. We show that securitization propagates banking advances to the financial market, permitting market evolution to be driven by bank evolution, and market advances are transmitted to banks through bank capital. We then examine how politicians determine the nature of political intervention designed to expand credit availability. We find that political intervention in banking exhibits a U-shaped pattern, where it is most notable in the early stage of financial system development (through bank capital subsidy in exchange for state ownership of banks) and in the advanced stage (through direct lending regulation). Despite expanding credit access, political intervention results in an increase in financial system risk and does not contribute to financial system evolution. Numerous policy implications are drawn out.