by Derek M. Scissors
Key Points
Chinese foreign investment declined through mid-2014 for the first time since the financial crisis.
By sector, energy draws the most investment, but a slump in energy spending means that metals and real estate have been more prominent so far in 2014.
The United States has received the most Chinese investment since 2005, followed by Australia, Canada, and Brazil. China invests first in large, resource-rich nations but has also diversified by spending more than $200 billion elsewhere.
Chinese investment benefits both China and the recipient nation, but host
countries must consider thorny issues like Chinese cyberespionage and subsidies.
Chinese foreign investment declined through mid–2014 for the first time since the financial crisis. This fact is a useful reminder that China is not buying the world. By country, the United States is the largest recipient of Chinese foreign investment, with particularly heavy investment since January 2012. The China Global Investment Tracker offers the only fully public data set of Chinese outward investment, and includes almost 600 nonbond investments of $100 million or more recorded from January 1, 2005, through June 30, 2014. It also includes more than 500 engineering and construction projects of $100 million or more undertaken by Chinese enterprises overseas, a crucial part of the country's global footprint.
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