Commentary from Financial Times (link):
Is a contagion of corporate nationalism spreading from the west to the east? At first sight it may seem so, as companies and politicians around Asia, particularly in its three largest economies, seek to repel unwelcome intruders from abroad.
The most striking case is China. After long courting foreign investors, Beijing is suddenly giving them the cold shoulder. It has frozen plans to open the country’s stockbrokers to foreign capital and put on hold proposed investments in a state-owned bank and in industrial companies.
East Asia is awash with money. Massive current account surpluses make many of its economies net capital exporters. What most of them really thirst for are management and business knowhow, international experience and advanced technology. Those ingredients are as critical to Seoul‘s hopes of becoming a leading financial centre as to China’s efforts to upgrade manufacturing.
See also “Foreign Investment in China” by the US-China Business Council.
