Economics & Finance / Macroeconomics / International Trade & Globalization

中国吸引资本秘诀：解构外资洪流 |China's Capital Magnet: Deconstructing the Tide of Foreign Investment

中国资本流入以外国直接投资（FDI）为主，这得益于其审慎的政策与激励。尽管近期外汇储备激增，但研究发现这更多由非FDI资本流入（热钱）驱动，而非贸易顺差。作者反驳了重商主义假说，强调改善金融体系和监管对管理全球化风险至关重要。 China's capital inflows are predominantly composed of Foreign Direct Investment (FDI), thanks to its prudent policies and incentives. Although foreign exchange reserves have surged recently, research indicates this is driven more by non-FDI capital inflows (hot money) than by trade surpluses. The authors refute the mercantilist hypothesis, emphasizing that improving financial systems and regulation is crucial for managing the risks of globalization.