经济学人下载:中国的海外投资

The Europeans get more than just money. A Chinese partner is a good way for a European brand to gain access to the world’s soon-to-be-biggest economy. Ask France’s Club Med, which now has a big Chinese shareholder and recently opened its first holiday resort in the country. Or CIFA, an Italian construction-equipment maker whose products are now marketed as a premium brand by its Chinese owner. Or Sweden’s Volvo, which was bought by Geely, a Chinese carmaker, in 2010 and now calls China its “second home market”.

欧洲得到的不仅仅是金钱。一个中国搭档就是一条可以使欧洲品牌通往世界快速增长经济体的捷径。问一下法国麦德俱乐部，现在有一个中国大股东，最近在中国建立了他的第一个度假村。还有CIFA，一家意大利施工设备制造厂，现在在中国新东家的管理下，他的产品已经成为市场上的顶级品牌。还有瑞典的沃尔沃，已经被一家中国汽车制造商吉利在2010购买，现在称中国为第二本土市场。

European voters are less happy about all this than their leaders: polls show that they view Chinese investments nearly as negatively as Americans do. Three worries predominate. The first is that China will strip Europe of technology and jobs. It is true that Chinese firms are often interested in buying European companies to use their know-how in China (or worse, to steal it). But Chinese firms want to conquer markets abroad as well as at home, and to do that in Europe, they must create jobs there. The second fear is that the Chinese are buying European jewels on the cheap. But there’s no evidence for that. Indeed, they are more likely to overpay: countries and firms with excess savings nearly always do. The third concern is that investments in assets like utilities and mobile technology threaten Europe’s security. But processes exist to screen foreign investments on those grounds. There’s no reason to think that they are wanting, and no reason to tighten them until that changes.

欧洲的选民可不像他们的领导那么开心：民意调查显示他们对中国投资看法几乎和美国人差不多消极。有三个明显的担心。第一就是中国夺走了欧洲的技术和工作。中国企业购买欧洲公司并利用欧洲的技术在中国生产（或者更糟，直接山寨），他们经常只对此感兴趣这是真的。但是中国企业想要像在国内一样在欧洲征服海外市场。他们必须在那里创造就业岗位。第二个担心就是中国人低阶购买欧洲珠宝，但是这还没有什么证据证明。事实上，他们更喜欢高价购买：那些有着过多存款国家和企业经常如此做。第三个就是对公用工程和交通技术的投资会威胁到欧洲的安全。但是在这方面现有对国外投资的审查程序。现在没有理由认为那就是他们要的，也没有理由在那改变之前来缚束他们。

China’s outward march certainly argues for vigilance, for it is the consequence of a huge shift in the balance of power, and change always involves risk. But the opportunities are greater than the dangers. In welcoming China, Europe is swimming with the tide of history; America is struggling against it.

中国的对外投资大军当然是谨慎的辩解，因为这对力量平衡的巨大转移有着重大意义，并且改变经常伴随着风险。但是机遇是大于风险的。在对中国的欢迎中，欧洲顺应了历史的潮流，而美国正在极力的反对这种趋势。