Rien T. Segers Trevor Stam. Asia: Reshaping the Global

Transcription

1 Rien T. Segers Trevor Stam Asia: Reshaping the Global Economic Landscape Chinese, Indian, Japanese and South Korean Outward Foreign Direct Investment and Their Implications for the Netherlands Shaker Media

2 Contents PREFACE 5 List of Figures 13 List of Tables and Boxes 21 List of Abbreviations 23 EXECUTIVE SUMMARY INTRODUCTION Research Questions Research Objectives Research Model Approach Country-level Approach Firm-level Approach Research Limitations Research Structure References ASIAN OUTWARD INVESTMENT Introduction Overview of Asian Outward Investment Trends References 63 7

3 3. CHINA " 3.1 Introduction ^7 3.2 China's Geography and Demographics China's Economy The Size of the Chinese Economy The Composition of the Chinese Economy and its Labor Force A Agricultural Sector B Industry C Services Sector D Characteristics of the Chinese Labor Force Governmental Economic Policies China's 12th Five-Year Plan ( ) Is China's Economy Overheating? China and Trade China's Outward Foreign Direct Investment Chinese Greenfield Investment and M&A Chinese Outward Investment Policy Chinese Enterprises and their Internationalization Strategies Domestic Contextual Factors Global Contextual Factors Converting Contextual Factors into Firm-specific Advantages: Chinese 108 Internationalization Strategies Capability Constraints of Chinese Firms in the Global Market Chinese Outward Investment in the Netherlands 113 8

4 3.5.1 Chinese OFDI in Europe Overview of Chinese OFDI in the Netherlands Dutch Economic Policy and Acquisition Strategies Related to China Policy Implications Conclusion References SOUTH KOREA Introduction South Korea's Geography and Demographics South Korea's Economy The Dynamics and Size of the South Korean Economy The Composition of the South Korean Economy and its Labor Force A Agriculture Industry C Service Sector D Characteristics of the South Korean Labor Force Governmental Economic Policy South Korea and Trade South Korea's OFDI Profile Greenfield Investment and M&A Deals by South Korean Companies Internationalization Strategies of South Korean Enterprises Chaebol-specific Characteristics and International Competitiveness Constraints and Challenges for Chaebol Internationalization 166 9

5 4.5 Overview of South Korean Outward Investment in the Netherlands Forecasts of South Korean OFDI and Policy Implications for the 170 Netherlands 4.7 Conclusion References INDIA Introduction India's Geography and Demographics The Indian Economy: Liberalization and Economic Development Plans The Size of the Indian Economy The Composition of the Indian Economy A Primary Sector, Mining and Natural Resources B Industry C Services Industry D Indian Human Capital, Labor Force and Education India and Trade India's Outward Foreign Direct Investment Indian Greenfield Investment and M&A Indian Enterprises and their Internationalization Strategies Domestic Contextual Factors Global Contextual Factors Converting Contextual Factors into Firm-specific Advantages: Indian 221 Internationalization Strategies 10

6 5.4.4 Capability Constraints of Indian Firms in the Global Market Overview of Indian Outward Investment in the Netherlands Forecasts of Indian OFDI and Policy Implications for the Netherlands Conclusion References JAPAN Introduction Japan's Geography Japan's Demographics Japan's Economy: Historical Developments at a Glance Japan's Economy: Post War Era Japan's Economy: the Heisei Economy The Composition of the Japanese Economy A Primary Sector and Energy B Manufacturing and Industry C Services Industry D Japanese Human Capital, Labor Force and Education Japanese Trade Japan's Outward Investment Greenfield FDI and M&A Deals Japanese Corporate Internationalization: Changing Tides and Contexts Internationalization Strategies of Japanese Firms 296 ll

7 6.6 Japanese Outward Investment in the Netherlands: Current 300 Developments and Prospects 6.7 Policy Implications for the Netherlands Conclusion References SUMMARY CONCLUSIONS 317 APPENDICES 327 Appendix A: Population distribution and urban-rural population per province 329 in China Appendix B: Industrial production output by product group of Chinese 330 enterprises from Appendix C: Transnationality Index of Chinese companies 332 Appendix D: 2011 Tõhoku earthquake, tsunami and Fukushima nuclear 333 disaster 12