Publications of Wong MNC Center Staff, Advisory Board Members, and Research Fellows

"The Social Responsibility of Multinationals: From an Afterthought to Center Stage”

Lorraine Eden

This chapter explores the treatment of multinational corporations (MNCs) and social issues from 1960 to the present day through a review of the extent scholarly literature. From the 1960s on, economic and international business scholars concentrated on the economic and political impacts of MNCs, while international political economy scholars devoted more research to political and social issues. Since the 2010s, however, scholars of MNCs have been given more attention to the global social responsibility of such actors.

"COVID-19 and International Business: A Viewpoint"

Ilan Alon

This article contends COVID-19 will spur a new world order with implications for international institutions, the unity of the European Union, multinational corporations (MNCs), foreign direct investment flows, the use of virtual money, and government policy. It argues we will see a rise in nationalism and protectionism, changing attitudes towards information from certain sources, the localization and regionalization of supply chains, the bifurcation of the world, and the securitzation of certain industries.

The Globalization of the Industry: Chinese Inward and Outward FDIs

Tommaso, Marco R. Di, Francesca Spigarelli, Elisa Barbieri, and Lauretta Rubini

This chapter describes how Western and domestic firms are competing in the various sub-segments of the Chinese healthcare market. It begins by looking at China’s “Open Door” policy and the impact of foreign direct investments (FDI) in China by Western multinationals. It then considers recent trends in China’s expansion abroad through FDI. The chapter analyzes various cases to understand the motives behind the growing integration of the Chinese healthcare industry in the global value chain.

“Covid-19 and the Consequences for Euro-Asian Business.”

Peter J. Buckley, OBE

In this podcast, Wong MNC Center Senior Research Fellow Peter J. Buckley offers his thoughts about the impact of Covid-19 and other contemporary global developments on China’s Belt and Road Initiative (BRI), which he views as a political-economic endeavor. Buckley feels Covid-19 will raise questions about certain BRI projects given all the other budgetary demands that have arisen and will lead to a new focus on other forms of connectivity like the health and digital silk roads.

The Investment War with China, part III: U.S. investment in China

Jean-Marc F. Blanchard

This article is the final part in a three-part series examining the United States (US) investment war with China and focuses on Washington’s war against US foreign direct investment (FDI) in China. It first details the forms of the US war, which include negative rhetoric about US FDI in China, the US-China trade war, and efforts to encourage companies to return to the US. It then considers the political and economic costs and benefits of these diverse tactics, showing that the calculus rarely is straightforward.

Monitor of Chinese OFDI in Latin America and the Caribbean in 2020

Enrique Dussel Peters

This publication provides detailed statistics about Chinese outward foreign direct investment (FDI) in Latin America and the Caribbean (LAC) from 2000-2019, with a focus on recent years. Among other things, it tracks Chinese outward FDI (OFDI) volumes, the geographic and sectoral distribution of Chinese OFDI (COFDI), and COFDI entry modes. The report identifies three main COFDI trends. First, COFDI flows are declining.

Emerging Market Multinationals and Europe: Challenges and Strategies

Andreas Breinbauer, Louis Brennan, Johannes Jager, Andreas Nachbagauer, and Andreas Nölke

The expansion of emerging market multinationals, exemplified by the expansion of Chinese multinationals to Europe and the Belt and Road Initiative (BRI), has created public concerns about its long-term implication. This book aims to address these concerns and offer fresh insights into this controversial topic. It analyzes the special features of emerging market multinational corporations (MNCs), decision making in emerging market MNCs (EMMNCs), cross-border acquisitions of EMMNCs, Chinese investments in Europe and along the BRI, and EMMNCs from Latin America, Russia, and Turkey.

Tracing the Legacy: China's Historical Aid and Contemporary Investment in Africa

Pippa Morgan and Yu Zheng

This article gives primacy to the effect of sociohistorical factors on foreign direct investment (FDI). A case study examining links between Chinese foreign aid to Africa from 1956 to 1999 and contemporary Chinese FDI there reveals a significant and positive connection between past foreign aid and contemporary FDI. The logic behind this pattern is that past foreign aid created social capital in host countries that generates specific resources for contemporary foreign investors, increasing their interest in host countries where social capital has accumulated.

The Growth Impact of Chinese Direct Investment on Host Developing Countries

Xiaolan Fu, Peter J. Buckley, and Xiaoqing Maggie Fu

The growth impact of Chinese outward foreign direct investment (FDI) on host countries and how it differs from Western outward FDI (OFDI) are focus of this article. Using a cross-country dataset for 52 countries and comparing United States (US) and Chinese OFDI (COFDI), the article contemplates the unique features of COFDI—e.g., weak ownership advantages and strong state support—and their impact on host country growth through various transmission channels.

China’s intellectual property rights provocation: A political economy view

Shaomin Li and Ilan Alon

Regarding the wellspring of intellectual property rights (IPR) violations in China, there are two competing perspectives, natural evolution and the rule of law. Both perspectives fail to take into account the impact that China’s party-state has on IPR protection. Adopting a political economy perspective, this article emphasizes the Chinese Communist Party (CCP)’s desire to preserve its monopoly of power and contends China has benefited from a rule through law mechanism, which creates unfair advantages for its companies, which are often government controlled.