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China buys up the world? [Copy link] 中文

Rank: 4

Post time 2010-11-12 11:31:45 |Display all floors
The Economist actually sung praises for China and Chinese firms, which, you have to say, is another benefit of globalization.
We are all prisoners of our own device.

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Rank: 6Rank: 6

Post time 2010-11-12 17:33:01 |Display all floors
I don't really like Chinese firms from a scientific point of view, at least the state-owned ones, as they're often terrible in effective. However, they don't mind money at the least - you can ask them for any price for a product and they're gonna pay it, they don't even try to negotiate (at least in the case of Sinopec I've made this experience). One or two million euro isn't that much for them...

However, what is terribly inefficient is the fact that Chinese can't invest abroad and the government buys state bonds (and a few, very few, foreign companies). That's terribly ineffcient. I'd therefore appreciate a policy under which Chinese can buy foreign companies themselves - this would increase exchange and globalization and therefore lead to new innovation. Geely managed to make a first bold step to buy a foreign car brad as a private Chinese company - others are to follow.

And to those who get afraid in the US and certain European countries: if China buys a western company, it's also paying for it - and with that money, new investments become possible, new products can be invented. So it's a win-win situation.

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