Introduction

Abstract

China has had a turbulent history this century. Once known as the center of capitalism in the late 19th and early 20th century, the Communists’ take-over in 1949¹ caused the country to experience massive destruction. In 1978, it was those same Communist forces who re-opened the doors to foreigners and encouraged them to invest in the country’s economy. Since then, China has emerged as the world’s number two recipient of foreign investments, totaling US$ 42.4 billion², only surpassed by the United States. The fall and rise of China belongs without doubt to the most important economic events of this century. One might even argue that the globalization of economies has had much to do with the emerging Asian markets and in particular that of China.