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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (36656)	7/28/2003 12:51:47 PM
From: RealMuLan	Read Replies (2) \| Respond to of 74559

Dr M: Imbalance in FDI will even out as China becomes wealthier KUALA LUMPUR, Malaysia (AP) - Malaysian Prime Minister Datuk Seri Dr Mahathir Mohamad conceded Monday that China's massive cheap labour market is draining foreign investment away from Southeast Asia, but said the imbalance would even out as China becomes wealthier. China's transition to a more open economy would eventually lead to a rise in production costs there and to the creation of new markets for products manufactured in other countries, Mahathir told a business forum. "Over time, the cost of production in China will go up, and when it goes up China will not be able to attract as much foreign direct investment, or even local investment, as it is doing now,'' Mahathir said during a question-and-answer session at the World Chinese Entrepreneurs Convention. "But more than that, as the Chinese population becomes richer, they are going to need a lot of things,'' he said. "They are going to need products from other countries and therefore China will become a very big market and we should look into what we can sell to China.'' thestar.com.my