Chinese Multinationals Gaining Global Dominance

Lourdes Casanova; Anne Miroux

doi:10.1344/jesb2024.46919

Authors

Lourdes Casanova Cornell University https://orcid.org/0000-0003-3524-1499
Anne Miroux Cornell University https://orcid.org/0000-0002-6091-5267

DOI:

https://doi.org/10.1344/jesb2024.46919

Keywords:

Chinese multinationals, internationalization, Mergers and Adquisitions, greenfield investment, Foreing Direct Investment, Chinese Multinationals, Internationalization, Mergers and Acquisitions, Greenfield investments, Foreign Direct Investment, Internationalization, global business, innovation

Abstract

Chinese firms have become key players in the global economy. Their rise is a defining feature since the turn of the century. In this paper, we analyze the ascent of Chinese firms in global business, the factors behind their emergence and how they have disrupted the global competitive landscape. Through the empirical study of large samples of firms and the help of databases like Capital IQ, FdI Markets and SDC Platinum, the paper examines the revenue growth and global expansion of Chinese firms– highlighting, among others, trends in geographical and sectoral distribution and modes of entry in foreign markets. The paper pays also particular attention to the rise of Chinese firms as global innovators and includes several cases studies in key industries. The paper concludes that while Chinese firms’ global expansion benefited from a favorable global environment, the current trade wars and geopolitical tensions, may be more challenging.

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Author Biographies

Lourdes Casanova, Cornell University

Lourdes Casanova Gail and Rob Cañizares Director Emerging Markets Institute, Senior Lecturer Cornell S.C. Johnson College of Business, Cornell University since 2012. Formerly at INSEAD for 23 years. Named one of 50 most influential Iberoamerican intellectuals, one of 30 most influential Iberoamerican women intellectuals by Esglobal. 2024 honorary professor Amity University Dubai. Fulbright Scholar, Masters University of Southern California, PhD University of Barcelona.

Co-editor with F. Cahen A. Miroux: From copycats to Leaders: Innovation from Emerging Markets. Cambridge University Press. with A. Miroux: The Era of Chinese Multinationals. Academic Press. Elsevier 2019. Emerging Market Multinationals Report 2023, 2022, 2021, 2020, 2019, 2018, 2017 and 2016. Co-author with P. Cornelius, S. Dutta: Entrepreneurship and the Finance of Innovation in Emerging Markets. Academic Press. Elsevier. With J. Kassum: The Political Economy of an Emerging Global Power: In search of the Brazilian Dream, Palgrave Macmillan 2014, author Global Latinas: Latin America’s emerging multinationals Palgrave Macmillan 2009. Former member Global Agenda Council, Competitiveness in Latin America World Economic Forum, B20 Task Force in G20 summit, Los Cabos (2012). Board member Boyce Tompson Institute. Co-founder Ithaca Hub of Global Shapers. Op-ed writer Latin Trade, Agenda Publica contributor to CNN en español, El País and Voice of America.

Anne Miroux, Cornell University

Anne Miroux is a Faculty Fellow at the Emerging Markets Institute, Johnson School of Management at Cornell University. She has over 30 years of experience in international trade and finance. She began her career in the United Nations Centre on Transnational Corporations in New-York, and later joined the United Nations Conference on Trade and Development (UNCTAD) where she specialized on developing country debt, foreign direct investment, transnational corporations, and technology and innovation policies. Until late 2015, she was the Director of the Division on Technology and Logistics in UNCTAD, and Head of the Secretariat of the UN Commission on Science and Technology for Development (CSTD).

For several years, Anne Miroux directed the World Investment Reports (WIR), the United Nations flagship report on FDI and transnational corporations and served as the Editor of the UN Transnational Corporations Journal. She is the co-author, with L.Casanova, of the Emerging Market Multinationals Report 2020, 2019, 2018, 2017 and 2016, and of The Era of Chinese Multinationals, Academic Press, Elsevier 2019, and co-editor with F. Cahen and L. Casanova of From copycats to Leaders: Innovation from Emerging Markets. Cambridge University Press. ISBN 978-1-108-48686-6. 2021

Anne Miroux is a member of the Advisory Board of the Technology and Management Center of the Department of International Development at Oxford University. She is also senior editor of the Transnational Corporations Review.

Anne Miroux has an MBA from HEC, Ecole des Hautes Etudes Commerciales, and graduated from IEP (Institut d'Etudes Politiques – _Paris). She holds a PHD in Economics from University of Paris I - Sorbonne.

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Chinese Multinationals Gaining Global Dominance

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Lourdes Casanova, Cornell University

Anne Miroux, Cornell University

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