经贸教材第一章翻译

in 1980 to19 percent in 2005.总存量的份额占美国公司在1980年到19％，2005年下降到38％左右。 Meanwhile, the share accounted for by France and the world’s developing nations increased markedly.同时，份额占法国和世界上的发展中国家显着提高。 The rise in the share of FDI stock accounted for by developing nations reflects a growing占发展中国家外国直接投资存量中的份额的上升，反映越来越多

Trend for firm from those countries to invest outside their borders.这些国家的投资趋势为公司以外的边界。 In 2005,frims based in developing nations accounted for 11.9 percent of the stock of foreign direct investment, up from only 1.1 percent in 1980.Firms based in south Korea, Singapore, India, and China accounted for much of this investment. 2005年，frims总部设在发展中国家的外国直接投资存量的11.9％，同比增长仅为1.1％1980.Firms总部设在韩国，新加坡，印度和中国，占这项投资的大部分。

Figure 1.3 illustrates two other important trends—the sustained growth in cross-border flows of foreign direct investment that occurred during the 1990s and the importance of developing nations as the destination of foreign direct investment.图1.3说明了两个重要的趋势，发生在20世纪90年代，发展中国家的外国直接投资目的地的重要性的外国直接投资的持续增长的跨境流动。 Throughout the 1990s, the amount of investment directed at both developed and developing nations increased dramatically, a trend that reflects the increasing internationalization of business corporations.在整个20世纪90年代，在发达国家和发展中国家的投资额急剧增加的趋势，反映了日益国际化的商业机构。 A surge in foreign direct investment from 1998 to 2000 was followed by a其次是在1998至2000年的外国直接投资的激增

slump from 2001 to 2003 associated with a slowdown in global economic activity after the collapse of the financial bubble if the late 1990s and 2000.低迷与全球经济活动放缓，2001年至二零零三年的金融泡沫崩溃后，如果在20世纪90年代末和2000年。 However, the growth of foreign direct investment resumed in 2004 and continued through 2006.然而，在2004年的外国直接投资恢复增长，并一直持续到2006年。 Among developing nations, the largest recipient of foreign investment has been China, which in 2005and2006 received $70 billion a year in inflows.在发展中国家，外国投资的最大接受国是中国，在2005and2006收到$ 70亿美元的一年中，流入。 As we shall see later in this book, the sustained flow of foreign investment into developing nations is an important stimulus for economic growth in those countries, which bodes well for the future of countries such as China, Mexico, and Brazil, all leading beneficiaries of this trend.稍后我们将看到在这本书中，外资进入发展中国家的持续流动是一个重要的刺激对这些国家的经济增长，这预示着未来的国家，如中国，墨西哥，巴西，所有主要的受益者这一趋势。

THE CHANGING NATURE OF THE MULTINATIONAL ENTERPRISE多国企业性质的变化

A multinational enterprise (MNE) is any business that has productive activities in two or more countries.一个跨国企业（MNE）是任何企业有两个或两个以上国家的生产活动。 Since

the 1960s, two notable trends in the demographics of the multinational enterprise have been (1) the rise of non-U.S. multinationals and (2) the growth of mini-multinationals.自20世纪60年代以来，多国企业的人口统计两个显着的趋势（1）非美国的跨国公司的崛起和（2）的小型跨国公司的增长。

non-U.S. multinationals非美国跨国企业

In the 1960s, large U.S. multinational corporations dominated global business activity.在20世纪60年代，美国的大型跨国公司主导的全球业务活动。 With U.S. firms accounting for about two-thirds of foreign direct investment during the 1960s, one would expect most multinationals to be U.S. enterprises.与美国公司占了约三分之二的外国直接投资在20世纪60年代，人们会预期，大多数跨国公司美国企业。 According to the data summarized in Figure 1.4, in 1973, 48.5 percent of the world’s 260 largest multinationals were U.S. firms.根据图1.4中列出的数据，在1973年世界最大的260家跨国公司中，48.5％的美国公司。 The second-largest source country was the United Kingdom, with 18.8 percent of the largest multinationals.第二大来源国是英国，有18.8％的大型跨国公司。 Japan accounted for 3.5 percent of the world’s largest multinationals at the time.日本占3.5％，是世界上最大的跨国公司的时间。 The large number of U.S. multinationals reflected U.S. economic dominance in the three decades after World War II, while the large number of British multinationals reflected that country’s industrial dominance in the early decades of the 20th century.美国跨国公司的大量反映美国经济在二战结束后的三十年中的主导地位，而英国的跨国公司的大量反映该国的工业在20世纪初的几十年中的主导地位。

By 2005 things had shifted significantly.到2005年，事情已经转移。 Some 27 of the world’s 100 largest nonfinancial multinationals were now U.S. enterprises; 15 were French; 13,German; 11, British; and 9,Japanese.约27的世界100家最大的非金融跨国公司，现在的美国企业，法国15人，13日，德国，11日，英国和9日，日本。 In terms of the global stock of foreign direct investment, 21 percent belonged to U.S. firms, 14 'percent to British, 8 percent to French firms, 8.5 percent to German firms, 5.6 percent to Dutch firms, and 4 percent to Japanese.在全球股市的外国直接投资中，21％属于美国公司，14％至英国，8％的法国企业，8.5％，德国的公司，5.6％，荷兰公司，和4％，至日本。 Although the1973 data are not strictly comparable with the later data, they illustrate the trend (the 1973 figures are based on the largest 260 firms, whereas the later figures are based on the largest 100 multinationals). the1973数据与以后的数据是没有严格的可比性，它们说明了趋势（1973年的数字是根据上最大的260公司，而后面的数字是根据上最大的100家跨国公司）。 The globalization of the world economy has resulted in a relative decline in the dominance of U.S. firms in the global marketplace.世界经济的全球化导致了美国公司在全球市场的主导地位相对下降。

According to UN data, the ranks of the world's largest 100 multinationals are still dominated by firms from developed economies.根据联合国的数据，世界最大的100家跨国公司的行列中仍然占主导地位的发达经济体的公司。 However, five firms from developing economies had entered the UN's list of the 100 largest multinationals by 2005.然而，五家公司从发展中经济体已经进入2005年联合国最大的100家跨国公司的名单。 They were Hutchison Whampoa of Hong Kong, China, which ranked 17 in terms of foreign assets; Singtel of Singapore; Petronas of Malaysia; Samsung of Korea; and CITIC Corp of China.他们是和记黄埔，香港，中国，排名第17位的外国资产方面，新加坡电信，新加坡，马来西亚国家石油公司，马来西亚，韩国三星公司和中国中信公司。 The growth in the number of multinationals from developing economies is evident when we look at smaller firms.发展中经济体的跨国公司的数量的增长是显而易见的，

当我们在规模较小的公司。 By 2005, the largest 50 multinationals from developing economies had foreign sales of $323 billion out of total sales of $738 billion and employed 1.1 million people outside of their home countries.到2005年，最大的50个发展中经济体的跨国公司的对外销售自己的国家以外的$ 323亿美元，738亿美元的总销售额，雇用了1.1万人。 Some 64 percent of the largest 100 multinationals from developing countries/regions came from Hong King, Taiwan, Singapore, and mainland China.来自康景，台湾，新加坡，中国大陆约有64％的发展中国家/地区最大的100家跨国公司。 Other nations with multiple entries on the list included South Korea, Brazil, Mexico, and Malaysia.具有多个条目的列表上的其他国家，包括韩国，巴西，墨西哥和马来西亚。 We can reasonably expect more growth of new multinational enterprises from the world's developing nations.我们有理由期待更多新的跨国企业从世界发展中国家的增长。 Firms from developing nations can be expected to emerge as important competitors in global markets, further shifting the axis of the world economy away from North America and Western Europe and threatening the long dominance of Western companies.来自发展中国家的企业可以预料，在全球市场上的重要竞争者，成为世界经济的轴转移远离北美和西欧，并威胁西方公司的长期优势。 One such rising competitor, Hisense, one of China's premier manufacturers of consumer appliances and telecommunications equipment, is profiled in the accompanying Management Focus.在随后的管理重点这样一个上升竞争对手，海信，中国领先的消费类电子产品和通讯设备制造商之一，是异形。

The Rise of Mini-Multinationals微型跨国公司的崛起

Another trend in international business has been the growth of medium-size and small multinationals (mini-multinationals).另一个趋势是国际业务一直是增长的中型和小型跨国公司（迷你跨国公司）。 When people think of international businesses, they tend to think of firms such as Exxon, General Motors, Ford, Fuji, Kodak, Matsushita, Procter & Gamble, Sony, and Unilever-large, complex multinational corporations with operations that span the globe.当人们想到的国际企业，他们往往想到的公司，如埃克森美孚，通用汽车（General Motors），福特，富士，柯达，松下，宝洁，索尼，联合利华大型，复杂的，业务遍布全球的跨国公司。 Although large firms still conduct most international trade and investment, many medium-size and small businesses are becoming increasingly involved in international trade and investment.虽然大型企业进行国际贸易和投资，许多中等规模和小企业正在越来越多地参与国际贸易和投资。 For another example, consider Lubricating Systems, Inc., of Kent, Washington.另一个例子是，考虑润滑系统公司，肯特，华盛顿。 Lubricating Systems, which manufactures lubricating fluids for machine tools, employs 25 people and generates sales of $6.5 million.润滑系统，主要生产机床的润滑液，员工25人，并产生650万美元的销售。 It's hardly a large, complex multinational, yet exports to a score of countries, including Japan, Israel, and the United Arab Emirates, generate more than $2 million of the company's sales.几乎没有一个大型的，复杂的跨国公司，还出口到20个国家，包括日本，以色列，阿拉伯联合大公国，该公司的销售额超过200万美元。 Lubricating Systems also has set up a joint venture with a German company to serve the European market.润滑系统还专门成立了一个合资企业，一家德国公司服务于欧洲市场。 Consider also Lixi, Inc., a small U.S. manufacturer of industrial X-ray equipment; 70 percent of Lixi's $4.5 million in revenues comes from exports to Japan.想想也对李玺公司，小美的工业用X射线设备制造商;李玺的450万美元收入的70％来自出口到日本。 Or take G.'.或者G.“。 Barth, a manufacturer of cocoa, bean roasting machinery based in Ludwigsburg, Germany.巴特，可可制造商，总部设在德国路德维希堡，豆烘焙机械。 Employing just 65 people, this small company

has captured 70 percent of the global market for cocoa, bean roasting machines.员工只有65人，这个小公司已经占据了全球市场70％的可可豆烘焙机。 International business is co ducted not just by large firms but also by medium-size and small enterprises.涵道，不只是大公司，但也中等规模的企业和小企业的国际业务合作。

THE CHANGING WORLD ORDER不断变化的世界秩序

The Soviet Union is now receding into history, having been replaced by 15 independent republics.苏联成为历史，现在后退被替换由15个独立的共和国。 Czechoslovakia has divided itself into two states, while Yugoslavia dissolved into a bloody civil war, now thankfully over, among its five successor states.捷克斯洛伐克分裂为两个国家，，而南斯拉夫溶解成一场血腥的内战，现在谢天谢地了过来，在其五个继承国。

Many of the former Communist nations of Europe and Asia seem to share a commitment to democratic politics and free market economics.欧洲和亚洲的许多前共产主义国家似乎也有同感民主政治和自由市场经济的承诺。 If this continues, the opportunities for international businesses may be enormous.如果这种情况持续下去，国际业务的机会是巨大的。 For half a century, these countries were essentially closed to Western international businesses.半个世纪以来，这些国家基本上是关闭到西方国际业务。 Now they present a host of export and investment opportunities.现在，他们提出了一系列的出口和投资的机会。

In addition to these changes, more quiet revolutions have been occurring in China, other states in Southeast Asia, and Latin America.除了这些变化，更安静的革命已经发生在中国，其他国家在东南亚和拉丁美洲。 Their implications for international businesses may be profound, China continues to move progressively toward greater free market reforms.国际企业的影响可能是深远的，中国将继续逐步走向更大的自由市场改革。 If what is occurring in China continues for two more decades, China may move from Third World status to industrial superpower status even more rapidly than Japan did.如果是发生在中国持续二十年，中国可能会从第三世界地位的工业超级大国的地位比日本更迅速。 If China's gross domestic product (GDP) per capita grows by an average of 6 to 7 percent, which is slower than the 8 percent growth rate achieved during the last decade, then by 2020 this nation of 1.273 billion people could boast an average income per capita of about $13,000, roughly equivalent to that of Spain's today.如果中国的总国内产品总值（GDP）人均增长平均6?7％，速度超过了8％的增长速度在过去十年中取得的，那么到2020年，这个民族1.273十亿人可以夸耀的平均收入每人均约13000美元，大约相当于西班牙的今天。

The potential consequences for international business are enormous.国际业务的潜在后果是巨大的。 On the other e hand, with more than 1 billion people, China represents a huge and largely untapped market.其他电子手，超过1亿人，中国是一个巨大的，在很大程度上尚未开发的市场。 Reflecting this tremendous potential, between 1983 and 2006, annual foreign direct investment in China increased from less than $2 billion to $70 billion.由于这个巨大的潜力，在1983年和2006年之间，每年在中国的外国直接投资增加，从不到200亿美元，至700亿美元。 On the other hand, China's new firms are proving to be very capable competitors, and they could take global market share away from Western and Japanese enterprises (for example, see the Management Focus about Hisense).另一方面，中国的新公司被证明是非常有能力的竞争者，他们可以采取的全球市场份额从西方和日本的企业（例如，关于海信管理的重点）。 Thus, the changes in China are creating both opportunities and threats for established international businesses.因此，在中国建立了国际业务的机会和威胁。