MICHAEL ENRIGHT be good and good business for the foreign companies, he says.
He says there is a great deal of confusion in the international community, because it is not clear what approach is best to get involved. There is also some fear that many initiatives might be exclusive to Chinese companies so it is best if China can work out the details soon.
Enright says that as Chinese companies go international, there will be more need of mutual understanding over the next few years about what Chinese companies are allowed to do in foreign countries and what foreign companies are allowed to do in China.
China became a major exporter, but with relatively few Chinese companies actually understanding the international market. And that is going to be one area in which working with foreign companies or allying with foreign companies is going to be critically important, he says.
Certainly for the developing countries, capital, expertise and infrastructure investment from China could make a major contribution to development. In the more advanced countries, Chinese investment is also contributing more to developing infrastructure, and it is creating jobs.
Michael Enright at the launch ceremony for his new book in Beijing.