Industry & Economy
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Foreign Direct Investment
China tops US in FDI inflows: Study
Sudhanshu Ranade
Chennai
,
June 29
THE Organisation of Economic Cooperation and Development (OECD) study has found that China overtook the US as the biggest recipient of foreign direct investment in 2003.
Announcing this news, the BBC went on to add that 2003 was a quiet one for FDI due to a weak world economy. The BBC report did not, however, mention that a sizeable chunk of FDI inflows into China was from the US itself. It did, however, mention that there had been a six-fold increase of $192 billion in net flows of FDI to countries outside the OECD.
China attracted $53 billion in investment from OECD countries, while India had to remain content with a meagre $4 billion. Russia got net inflows of only $1 billion during 2003, most of which went to the energy sector.
The US suffered the biggest fall in net foreign investment, attracting only $40 billion in 2003, compared to $72 billion in 2002 and $167 billion in 2001.
Investment in the European countries fell 23 per cent, with Germany and the UK taking the biggest hit. Net inflows into France, however, hardly fell at all; it got $47 billion in 2003 compared with $48.9 billion the year ago.
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