The Results and Challanges of Chinese "Go Global" Policy

Zakić, Katarina and Radišić, Bojan (2017) The Results and Challanges of Chinese "Go Global" Policy. The Review of International Affairs, LXVIII (1168). pp. 36-55. ISSN 0486-6096

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Abstract

“Open Door Policy” marked the turning point in the history of the economic development of China, since it meant that China was opening to the foreign investments. Since 1979 until today China has become one of the top countries in the world to receive foreign direct investments (FDI). Chinese economy is the second largest economy in the world, with one of the strategic goals of the Chinese Government being to become number one. In order to achieve that result, China shifted its previous focus from FDI to OFDI (outward foreign direct investment). It started to implement completely different strategy, and tried to spread its business abroad. During the implementation of the 10th (2001-2005) and 11th Five-Year Plan (2006-2010) the “Go Global” policy was emphasized as one of the most important strategic policies in China. Because of that Chinese OFDI started to rise, and in 2016 they reached impressive US$ 247 billion. This paper will analyze the historical development of “Going Global” policy, and look upon the effects, results, changes and challenges that have appeared in the process so far.

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