China: An International Journal

The last two decades have witnessed a significant rise and expansion in outward foreign direct investment (OFDI) from China and India. This paper discusses the development process of China's and India's OFDI since the early 1980s, analysing the major driving factors and determinants behind their enterprises' "going out" strategies, and comparing the different structures of their OFDI. The main conclusion is that the OFDI from China and India is likely to expand further in the future as the two giants aspire to become significant regional and global players in their respective industries.

This article provides an in-depth analysis of the dynamics of American expert opinion on Sino-US trade and currency issues, and assesses the impact that these views have on the behaviour of American politicians. Views of leading American economists from industry, universities, think tanks, as well the media are closely analysed against the backdrop of an increasingly complicated and multifaceted discussion in the political realm. This study concludes that the American economic community is itself divided on these critical issues with no particular school of thought gaining ascendency over another, thus providing space for non-expert views and biases. This gap can be exploited for short-term gain with minimal risk to the credibility of American politicians and it should not be entirely surprising that this is happening with increasing frequency.

This article focuses on the recent phenomenon of an increasing number of Chinese students choosing to pursue their higher education in the UK. It explores those factors shaping both the students' decision to study in the UK and their preference to eventually live and work either in China or abroad. In addition, it examines the levels of (and reasons for) the career optimism/pessimism that these students feel. Inter alia, the study finds that it is the search for a quality higher education and a desire to improve their foreign language skills that cause these students to both look abroad and specifically choose the UK for their studies. UK degrees are seen as having greater career value than Chinese degrees. The majority feel that several years of living and working abroad would be best for their career prospects. The UK, USA and Australia are seen as the top three expatriation destinations. Finally, when considering their careers, more are optimistic than are pessimistic, especially the female students.

This article summarises what is known and not known about the reform and reconstruction of China's social security system and the related social welfare programmes, the policy options debated in both official and academic circles, and recommendations for new options for social system reform to be considered in the 12th Five-Year Programme. The term "social security" here refers to social insurance and social welfare (relief) programmes such as free education and housing subsidies. Also discussed here are the strategic objectives of social security, why China currently needs a genuine social security system, the major problems of the current social security system and the policy debates concerning the establishment of the new system over the next five or ten years.

Since the implementation of the reform and opening-up policy, the Chinese government has been continually increasing the fiscal expenditure on social security. This effort has scored remarkable achievements and has been playing an important role in basic needs, safeguarding social stability and promoting economic development. However, great disparity still exists between fiscal investment in social security and the population's social security demand, due largely to inadequate total fiscal expenditure and its biased structure. Government spending on social security has yet to play an equalising role in income distribution. In view of these problems, this article recommends ways to strengthen and improve fiscal expenditure on social security.