Abstract and Keywords
This chapter reviews the foreign direct investment (FDI) patterns of Japan, China, India, and South Korea, as well as smaller and emerging players stretching from Southeast Asia to Central Asia. By 2012 Asia accounted for 27% of FDI inflows and 17% of FDI outflows worldwide. Intraregional FDI accounts for about 40% of total FDI in Asia. Although there is a strong economic rationale for intraregional investment flows, Asia has a state-mediated investment model, meaning that states in the region remain pivotal regulatory gatekeepers. As such, the density in intraregional FDI does not support teleological scenarios about investment integration in Asia. Even as Asian states have enacted liberalizing investment arrangements, including regional BITs and innovative region-wide schemes, regional FDI remains vulnerable to a range of domestic realities, geopolitical distractions, and national security concerns.
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