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This way of thinking began in 1978 when the Chinese leadership began to move the economy from a restricted market to more of a capitalist market. The results at the forefront of this movement were small, only about 2.7 billion between 1985 and 1990 and then exploded in 1997 to a record of 45 billion. (international business-186)
Mainland Chinese corporations are acquiring overseas assets with the pace picking up. Shanghai Automotive Industry Corp. said it would pay $60 million for a 10% stake in the revived Daewoo Auto, now led by General Motors Corp. China Petroleum & Chemical Corp. (Sinopec) bought a 75% stake in an oil field in North Africa for $394 million...
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