Editor’s note:Professor Tang Yihong of w88 casino is here2009Year3month23日's "People's Daily"07Published an article on the forum to discuss the strategies and risks of "going global" for Chinese enterprises under the conditions of the global financial crisis. The full text is as follows:
Strategies and risks for enterprises to “go global”
Currently, the international financial crisis caused by the U.S. subprime mortgage crisis has not yet bottomed out, and has further spread to the real economy, causing a severe recession in the world economy. In countries with serious financial crises, some banks have collapsed and the credit system is on the verge of collapse; companies are in urgent need of funds to "come back to life"; many senior talents are unemployed or facing the threat of unemployment; technology patent owners are looking for transfer opportunities everywhere; and the prices of resource products are falling. These circumstances have brought many business opportunities to foreign investors. But at the same time, because the markets in these countries are still in turmoil, and w88 protectionism is on the rise, there are often huge risks hidden in such business opportunities. So, under the current situation, what kind of strategies should our companies formulate and what risks should they prevent when implementing the "going global" strategy?
Through overseas processing w88, we can reduce costs and expand international market share. Overseas processing w88 is a form of overseas direct investment and an important way for Chinese enterprises to "go global" at this stage. This method of investment and w88 refers to enterprises driving and expanding the export of domestic equipment, technology, raw materials, and spare parts in the form of processing and assembly abroad. my country's overseas processing w88 is mainly concentrated in the electromechanical, textile and garment, light industry and other industries where it has comparative advantages. In recent years, projects in the fields of medicine, building materials, environmental protection, tobacco, comprehensive agricultural development and other fields have also increased. Asia, Africa, Eastern Europe, and Latin America, which are highly complementary to our country's economy, are the main areas where our companies develop overseas processing w88. Affected by the international financial crisis, China's foreign demand has weakened and exports are facing huge challenges. In this case, Chinese enterprises can use their advantages in production technology, equipment and capital to carry out overseas processing w88, reduce production and export costs, and expand international market share. This approach is also conducive to expanding employment and improving technological levels in the host country, so it is easily welcomed by the host country. However, due to the impact of the international financial crisis, global market demand has dropped significantly, and products produced by overseas processing w88 enterprises are also at risk of being unsalable.
Improve corporate R&D capabilities by establishing overseas R&D centers. Establishing technology R&D centers overseas is an important way for enterprises to obtain technical information, develop new technologies and products, and absorb R&D talents. Enterprises can establish some laboratories and R&D centers through wholly-owned investment or overseas mergers and acquisitions. Overseas R&D centers should generally be established in areas where R&D factors are concentrated in the world to obtain agglomeration effects. What needs to be noted in this regard is that foreign countries have very strict control over core technologies. For example, the United States implements extremely strict export control measures on the w88 of high-tech and high-tech products on the grounds of national defense security and economic security. It also has even stricter controls on foreign investment in its high-tech R&D process. Therefore, Chinese enterprises need to look for opportunities, choose suitable merger and acquisition targets, and clarify the ownership of intellectual property rights to avoid intellectual property disputes. In terms of how to establish overseas R&D centers, both new construction and mergers and acquisitions have their own pros and cons. A newly-built wholly-owned R&D center is independently managed, and the intellectual property rights of the research results are clear, but local R&D resources are not fully utilized; mergers and acquisitions or the establishment of a joint-venture R&D center will lead to frictions such as the management and culture of both parties to the joint venture. Therefore, it is more advisable to attract outstanding local R&D talents to join a wholly-owned R&D center.
Increase the development of overseas resources and ease the bottleneck constraints on economic growth. The international financial crisis and its spread to the real economy have led to a sudden drop in the demand for resources in the international market and a sharp decline in the prices of resource products. This gives Chinese companies the opportunity to invest overseas and obtain shares of resource producers at lower prices. In overseas resource development, mergers and acquisitions are very common, and the security and share of resources are the primary concerns of both parties. Since the resource industry is usually regarded as a strategic industry, the investment and development of overseas resources are easily restricted and restricted by the resource country. Therefore, merger and acquisition targets should be carefully selected, and special attention should be paid to the methods and strategies of mergers and acquisitions.
By "going global", bypass w88 barriers. At present, developed countries such as the United States, which are facing a severe financial crisis, have adopted a wide range of measures to rescue the market. Among them, what is worthy of attention is that from "buying domestic products" to "employing local people" to "saving domestic institutions", w88 protectionism is on the rise. At the same time, common w88 protection measures such as "two countermeasures and one guarantee" (i.e. anti-dumping, countervailing, safeguard measures) and technical w88 barriers have become more popular. This situation forces some companies to bypass w88 barriers and enter the protected market of the other party through foreign direct investment. However, it should be noted that some countries not only restrict the inflow of goods, but also restrict the inflow of capital. For example, the U.S. government has provided clear and specific protection for core businesses in the banking, securities, and insurance fields, and has adopted a certain degree of resistance to foreign capital entering the U.S. financial market in the form of equity investment. Therefore, it is difficult for foreign financial institutions to obtain investment opportunities. The United States and the European Union only provide loans to domestic enterprises as a condition for banks to obtain financial support, making it difficult for foreign enterprises to obtain financing in the host country market, thereby restricting the entry of foreign capital. In addition, it is common practice to restrict foreign capital from entering resource-based industries. Therefore, when Chinese enterprises implement the "going global" strategy, they should comprehensively analyze the international market, especially the policies and market conditions of the investment host countries, so as to seize all available opportunities while avoiding unfavorable factors and risks.
（Original link:http://paper.people.com.cn/rmrb/html/2009-03/23/content_217185.htm）
