Ben Day: >The big problem with the >surplus capital argument is that, for most of the last >century, foreign >investment >has been >overwhelmingly /between/ >developed capitalist >countries.
If we look at the present day FDI in Asia, the bulk (probably 60-70%) of FDI goes to China and Hongkong. China claims to have actually received $350 bn as FDI and cumulative commited FDI to China is claimed to be $750 bn in the last 10 years. India has received about 10% of this figure (or about $30bn) in the previous decade. Vietnam's GDP is probably one tenth of India's GDP, but Vietnam gets as much FDI in absolute terms as India does. Ulhas
