To: Elmer Flugum who wrote (2126 ) 10/3/2002 5:01:56 AM From: GUSTAVE JAEGER Respond to of 3959 Bilderberg schemers scrambled to infuse new life into the Transatlantic mill... to no avail. Again, welcome to the Brave New TransPacific World:China Dream A survey reveals China has now surpassed the U.S. as the world's favourite investment destinationBy Tom Holland/HONG KONG Issue cover-dated October 10, 2002TRADE AND INVESTMENT have long been the twin engines of Asia's economic growth. In 2001 both faltered, hit hard by the global economic slowdown. So far this year Asia's trade has rebounded handsomely, lifted by buoyant intra-regional commerce. Now it seems that investment too, if not exactly flooding into the region, is at least holding up far better than capital flows into other economic areas. As the world economy slumped last year, countries pinning their development hopes on a healthy inflow of foreign-investment capital had a lousy time. Worldwide, the flow of foreign direct investment, or FDI--money that goes into building factories or toward buying companies rather than into financial assets like stocks or bonds--halved to around $700 billion. That decline was unevenly spread, however. FDI into Asia dipped by just 24%, compared with falls of 60% for the United States and Europe. Asia's strong showing is partly because the region was relatively unaffected by the collapse of the trans-Atlantic mergers-and-acquisitions bubble of 2000, which itself was the result of overly inflated stock prices. But equally, if not more important, is the continued enthusiasm among senior executives of multinational companies for investing in China's fast-growing economy. In 2001 China attracted $47 billion in FDI, a 15% increase over 2000, according to the United Nations Conference on Trade and Development, or UNCTAD. Low wage costs, a solid export platform through membership of the World Trade Organization and a rapidly developing domestic consumer market add up to make China the most highly favoured destination for FDI in Asia, according to UNCTAD, which forecasts a further increase in inward investment in 2002. U.S.-based management consultancy A.T. Kearney goes a step further. In a survey published last month A.T. Kearney claims that China has now surpassed even the U.S. as the favourite place in the world to invest for big multinationals. A.T. Kearney questioned 150 senior executives drawn from the world's 1,000 largest companies, which it says account for more than 70% of all global FDI flows. A third of the executives named China as the place they most want to invest over the next one to three years, thus pipping the U.S. into second place for the first time since the survey was first conducted in 1998. [...]feer.com But hey, don't expect Judeofascist Europe to sink into economic irrelevance without a fight.... The TransPacific switch might cost you another 911 :o( Gus