Second, the characteristics of international investment:
1. The growth rate accelerated and the scale reached a record.
2. Transnational investment is gradually shifting from developing countries to developed countries.
The absorption of foreign direct investment by developing countries has shifted from East Asia to Latin America.
4. The trend of investment liberalization is increasingly obvious.
5. Cross-border M&A has become the main form of international investment and remains the main driving force for the rapid growth of foreign direct investment in the future.
6. Cross-border investment is transferred to industries such as finance, insurance, telecommunications and circulation.
Third, the development and characteristics:
biographical notes
International investment is the product of the development of commodity economy to a certain stage, which develops with the development of international capital. When the commodity economy developed into a capitalist society, bank capital and production capital were increasingly integrated and developed, which promoted the further expansion of capital accumulation, formed large-scale financial capital and produced a large amount of capital surplus, and the early form of international investment in capital export also came into being. With the continuous enrichment of international economic transactions, the contents and forms of investment are constantly evolving. Judging from the historical process of international capital activities, international investment activities first show the movement of monetary capital, that is, an international indirect investment with international lending and international securities investment as the main forms, which is marked by the emergence of multinational banks; Secondly, it is the movement of producing capital, that is, international direct investment, which is marked by the emergence of multinational corporations.
Initial stage of international investment (1870 ——1914)
During this period, after the emergence of the second scientific and technological revolution marked by the electric power revolution, the productive forces developed rapidly, the international division of labor system and international monopoly organizations began to take shape, and bank capital and industrial capital infiltrated and merged with each other, thus forming huge financial capital, providing conditions for capital export, and international investment characterized by capital export also formed. International investment in this period has the following characteristics: 1, and the number of investment countries is very small. 2. The form of investment is mainly indirect investment, and the proportion of direct investment is very small. 3. The source of investment is mainly private investment, and the proportion of official investment is very low. 4. The main flow of investment is from Britain, France and Germany to its colonial countries, and its purpose is to find powerful investment places to obtain excess profits.
The low-speed wandering stage of international investment (1914-1945)
This period was between the two world wars. Due to the two world wars and the great crisis in the 1930s, capitalist countries were damaged by wars to varying degrees, capital was extremely short, and the market shrank, which made international investment activities in a downturn.
The basic characteristics of international investment activities in this period can be summarized as: 1, and international investment is not very active, with a small scale and slow growth. 2. Private investment is still dominant, but the proportion has declined, while the official proportion has increased. 3. Indirect investment is still the mainstream, but the proportion of direct investment has increased. The status of major investors has changed, and the United States has replaced Britain as the largest foreign investor.
The recovery growth stage of international investment (1946-1979)
Since the Marshall Plan of the United States was implemented from 65438 to 0947, large-scale foreign investment activities began. In addition, the world political situation was relatively stable at this stage, and the rise of the third industrial revolution made international investment activities recover and grow rapidly.
The basic characteristics of international investment activities in this period can be summarized as: 1, and the investment scale expanded rapidly. 2. The way of foreign investment has changed from indirect investment to direct investment. 3. Many developing countries have joined the ranks of international investors, especially oil-exporting countries, whose petrodollars have become an important source of funds for international foreign investment.
The rapid development stage of international investment (after 1980)
At this stage, due to the joint action of scientific and technological revolution, financial reform and global operation of multinational corporations, international investment has flourished and become the most active factor in world economic development. However, the growth rate of international investment in different countries is not consistent. Among them, the growth rate of the United States slowed down and the growth rate of Japan accelerated.
The basic characteristics of international investment activities in this period can be summarized as follows:
1. International direct investment continues to grow at a high speed.
2. International indirect investment has also developed rapidly.
3. The capital convection between developed countries, that is, mutual investment, has become the mainstream trend of international investment.
4. Formed a "three-legged" investment pattern of the United States, Japan and Western Europe.