Basic meaning
1. refers to the monopoly capitalist empire investing or lending excess capital to other countries to obtain high profits, which is the main way of foreign economic aggression after the development of capitalism from the free capitalist stage to the monopoly stage. Take China as an example. Before 1970s, the economic aggression of capitalist powers against China was mainly commodity export, but it also opened the early capital export. /kloc-After the late 20th century, the western aggression against China was mainly based on capital export, supplemented by commodity export. 2. It refers to the investments and loans made abroad by a government or individual in order to obtain high profits or interest. Capital output can be divided into private capital output and national capital output according to its different subjects. Private capital export refers to the capital export of individuals or groups, including private direct investment, securities investment and private export loans. National capital export refers to the capital export of the government and its affiliated institutions, including gifts, loans and government export credits. Whether it is private capital export or government capital export, the basic forms of capital export can be divided into two types, namely, loan capital export and production capital export. The former refers to indirect investment in providing loans to foreign governments or private enterprises or buying foreign securities and stocks. The latter refers to the direct investment in establishing various enterprises and engaging in production and business activities abroad. Capital export appeared as early as the stage of free capitalism, but it was only a few individual phenomena at that time. By the end of 19 and the beginning of the 20th century, capitalism had developed into a monopoly stage, and a large number of "surplus" capital appeared in a few countries, so that capital export developed on a large scale and became a common phenomenon. After the Second World War, due to the internationalization of economic life and the development of state monopoly capitalism, capital export has shown new characteristics, namely, the role of the state in capital export has increased, and the position of direct investment, that is, production capital export, has become more and more important, and multinational companies have become an important tool for capital export. In terms of international taxation, capital export brings about the contradiction of tax benefit distribution between capital exporting countries and capital importing countries, and the problem of international double taxation is particularly prominent and needs to be solved by both sides. 3. Protection of investors' rights and interests by foreign investment law In international investment activities, a country is often both a capital exporter and a capital importer, so the foreign investment law must take care of the interests of both investors and recipients. There must be provisions to protect the interests of investors, and foreign investors must meet the economic development goals of the host country, and their business activities must abide by the laws of the host country. Due to the imbalance of economic development, in the modern economy, there are many opportunities for capital export in developed countries, which are usually called capital exporting countries; It is very common for developing countries to accept capital input. They are usually called capital importing countries. Although capital exporting countries and importing countries protect investment activities, the emphasis of legislation is different. On the basis of safeguarding national sovereignty and economic interests, the legislation of capital-importing countries pays attention to preferential terms to protect investors' interests in order to attract foreign investment, while the laws of capital-exporting countries pay attention to providing guarantees and encouraging their own private investment abroad.
Edit the reason for capital export in this paragraph.
One reason
First, capital export is a prominent feature of monopoly capitalism (imperialism). Capitalism dominated by free competition is characterized by commodity export, while capitalism dominated by monopoly is characterized by capital export. In the stage of free competition, commodity exports have been widely developed, which is an important means for capitalist countries to occupy the world market, exchange unequally with colonies and dependent countries, and realize the exploitation of the people of colonies and dependent countries. At the same time, capital output has also appeared, but the number is still very small and does not have important significance. After the transition from free competition stage to monopoly stage, commodity export still occupies an important position and has been further developed; However, the development of capital output is much faster. For example, from 1882 to 19 13, Britain's total merchandise exports (excluding re-exports) increased from 240 million pounds to 526 million pounds, an increase of119%; In the same period, British foreign investment increased from less than 65.438+0.5 billion pounds to 4 billion pounds, an increase of about 27 times. For another example, from1869 to1914, France's total merchandise exports increased from 2.075 billion francs to 4.868 billion francs, an increase of135%; However, during the same period, foreign investment in France increased from 654.38 billion francs to 60 billion francs, a fivefold increase. Generally speaking, capital export developed greatly at the beginning of the twentieth century. Around 1870, the total foreign investment of major capitalist countries such as Britain, France, Germany, the United States and Japan was only $5 billion, and it increased to $44 billion to $48 billion in 19 14. At this time, the income obtained by monopoly capitalists from foreign investment greatly exceeds the income obtained from foreign trade. Take UK annual income 1899 as an example. The former is 90 million to100000, and the latter is five times as much as180000. It can be seen that in the monopoly stage, capital export has already had special significance.
Reason two
Second, the necessity of exporting imperialist capital. Its necessity is mainly manifested in the emergence of a large number of excess capital in these countries. In fact, the phenomenon of capital surplus has existed since the stage of free competition. The reasons for this phenomenon are: on the one hand, more and more monetary capital needs to find investment places in the process of capital accumulation and concentration; On the other hand, it is because the sole purpose of capitalist production is profit. In order to invest capital, we must ensure that it can "exploit labor according to the degree of exploitation required by the' healthy and normal' development of capitalist production process" (Complete Works of Marx and Engels, Volume 25, pp. 284-285). The degree of exploitation required for the "healthy and normal" development of this capitalist production process is to ensure that capitalists can obtain average profits in the stage of free competition. When the average profit drops, "at least make the profit increase with the increase of capital usage, so that the profit rate will not drop at the same level when the capital increases, and will not drop faster than the capital increase" (Complete Works of Marx and Engels, Volume 25, pp. 284-285). If this is not the case, some capital will be idle and form excess capital. In the monopoly stage, surplus capital is more prominent. First, all developed capitalist countries have capitalist monopoly alliances; Second, a few of the richest capitalist countries are in a monopoly position in the world. In these countries, monopoly capitalists have accumulated huge monetary capital in their own hands by exploiting and plundering the people of their own country and the world. As Lenin said, "imperialism is the accumulation of monetary capital in a few countries" (Lenin: "Imperialism is the highest stage of capitalism" on page 90), so monopoly capitalists in these countries need to have extremely huge investment places, which is one aspect. On the other hand, due to the rule of monopoly, the degree of exploitation required for the "healthy and normal" development of the above-mentioned capitalist production process is no longer the average profit, but the monopoly high profit far higher than the average profit. Moreover, in developed capitalist countries, in those sectors where monopoly dominates, investment places that can obtain monopoly high profits have long been occupied by monopoly organizations. In this way, for monopoly capitalists who have accumulated huge monetary capital, there are not enough profitable investment places in their own countries. Therefore, in some developed capitalist countries, excess capital has reached an unprecedented scale. Capital surplus, like overproduction and overpopulation peculiar to capitalist countries, is relative. If capitalists are willing to use these so-called surplus capital to improve the living standards of their own people and eliminate the large number of unemployed people who often exist; Or if we are willing to invest more capital in agriculture when agriculture lags far behind industry, then of course there will be no capital surplus. But for capitalists, these things are impossible. Lenin pointed out: "As long as capitalism is still capitalism, the surplus capital will not be used to improve the living standards of its own people (because it will reduce the profits of capitalists), but will be exported to foreign countries and backward countries to improve profits." Lenin: Imperialism is the Highest Stage of Capitalism, p. 56. Therefore, it is necessary for a few imperialist countries to export capital in order to extract more profits from the people of other countries.
Reason three
Third, the possibility of exporting imperialist capital. At the beginning of the twentieth century, a few countries with dominant financial capital not only had the necessity of exporting capital, but also had the possibility of exporting capital. Because at this time, the development of capitalism has involved many backward countries in the capitalist world market. In these countries, the natural economy has gradually disintegrated, the commodity economy has developed, the rural areas have been divided into classes, and a large number of employed workers have been produced. The main railways have been built or are being built, and the minimum conditions for industrial development have been met. In this way, capital export developed greatly at the beginning of the twentieth century.
Reason four
4. Capital export is the basis of imperialist oppression and exploitation of people in other countries. Capital export expands the sphere of influence of financial capital from domestic to foreign countries, and forms the exploitation network of financial capital in the world, making financial capital dominate the world. As Lenin said, capital export is "a solid foundation for imperialism to oppress and exploit most nations and countries in the world" (Lenin: imperialism is the highest stage of capitalism, p. 57). Capital export is a tool for financial capital to exploit the people of most nationalities and countries in the world, especially those in backward countries, and seize monopoly high profits. The export of loan capital by imperialist countries not only exploits debtor countries, but also attaches various conditions when providing loans, including forcing debtor countries to buy their goods, which opens the door for promoting their commodity surplus and expanding commodity exports. That is to say, when financial capitalists export loan capital, they "have to peel two skins from a cow" (Lenin: imperialism is the highest stage of capitalism, p. 106). The first cover is the interest earned on the loan; The second skin is the monopoly profits that debtor countries get when they are forced to use the same loans to buy their goods. The export of production capital by imperialist countries is also killing two birds with one stone. On the one hand, it directly expands its own commodity exports, on the other hand, it directly uses the exported production capital to squeeze the blood and sweat of the people in importing countries. When capital is exported to backward countries, "profits are usually high because there is little capital, low land price and cheap raw materials" (Lenin: "Imperialism is the highest stage of capitalism", p. 56). Due to a large number of capital exports and commodity exports, imperialist countries have achieved huge monopolies and high profits from abroad. For example, from 1865 to 1898, Britain's national income doubled, while Britain's income from abroad increased eightfold during this period! Capital output is like a blood vessel, which sucks the blood and sweat of people in backward countries and keeps them in poverty for a long time. The huge profits brought by capital export have enriched the monopoly bourgeoisie in imperialist countries and become a major source of economic power in imperialist countries. Capital export is also an important means for imperialism to invade and enslave backward countries and make them its own colonies and dependent countries. Imperialism's conquest and rule of colonies and dependent countries not only depends on force, but also uses capital export to a great extent. Imperialist countries have controlled the economic lifeline of backward countries through the export of production capital, which not only cruelly exploited the people of these countries, but also directly strengthened imperialist political control over these countries. Through the export of loan capital, imperialist countries have established the financial dependence of backward countries, and also made these countries rely on themselves not only economically but also politically. In order to enslave and control backward countries, imperialism also fostered bureaucratic comprador forces in these countries through capital export, colluded with feudal forces, turned them into their own lackeys, and became the pillars and agents of imperialist rule over people in backward countries. Although the export of imperialist capital has disintegrated the natural economy of backward countries and objectively stimulated the development of national capitalism in these countries, on the whole, the result of the export of imperialist capital has inhibited the development of national capitalism in backward countries that have imported capital, making these countries increasingly embark on the road of colonial vassals, making their national economies develop unilaterally according to the needs of financial capital of imperialist countries and become vassals of producing agricultural products and mineral raw materials for imperialist countries. The vast majority of countries and regions in Asia, Africa and Latin America, under the long-term oppression of imperialist countries' monopoly capital, their national economies have been devastated and developed unilaterally, and even now they have not been able to get rid of this deformed state. For example, according to the statistics of 1968 and 1969, oil accounts for 92% of Venezuela's total exports, tin mines account for 70% of Bolivia's total exports, copper accounts for about 80% of Chile's total exports, and coffee and agricultural products account for 80% of Brazil's total exports. In Zambia, copper accounts for 95% of the total export value; In Ghana, cocoa accounts for more than 50% of the total export value; In Ethiopia, coffee accounts for more than 60% of the total export value. In a word, capital export has expanded the scope of financial capital exploitation and rule in imperialist countries and promoted the formation of the world financial capital exploitation and rule system. Lenin said: the nature of the benefits obtained from capital export "also shows the characteristics of the times of financial capital and monopoly organizations" (Lenin: "Imperialism is the highest stage of capitalism", page 58), that is, the characteristics of financial capital monopolizing, plundering and ruling not only at home but also all over the world, which fully exposed the aggressive nature of capital export and imperialism. The bourgeoisie and its spokesmen tried their best to cover up the aggressive nature of capital export, insisting that it is a kind of "good deed" of imperialism to help colonies and dependent countries develop their economies in order to "deepen friendship", and so on. These are all lies. We in China have a personal understanding of this kind of "goodwill" and "deepening friendship" of imperialism. Imperialism exported a lot of capital to semi-colonial and semi-feudal old China after the Sino-Japanese War of 1894-1895 (1894 ~ 1895). At the beginning of the 20th century, the imperialist investment in China was about $65.438+0.5 billion, which increased to more than $2.25 billion in the First World War and nearly $4.3 billion on the eve of the outbreak of War of Resistance against Japanese Aggression. Chairman Mao pointed out: "The invasion of China by imperialist powers, on the one hand, prompted the disintegration of feudal society in China, prompted capitalist factors to occur in China, and turned a feudal society into a semi-feudal society; On the other hand, they ruled China cruelly. " (Mao Zedong: China Revolution and China * * * Production Party, Selected Works of Mao Zedong (bound volume), p. 593). Before War of Resistance against Japanese Aggression, foreign capital accounted for more than 70% of modern industry and transportation in China. They account for 95% of iron and steel industry and petroleum industry, 75% of coal mining and power industry, 60% of textile industry and about half of food industry. In addition, it controls almost all railway, aviation and ocean transportation in China, and controls two-thirds of inland navigation. China's finance, insurance and foreign trade are also controlled by foreign capitalists. The import of a large number of foreign capital has seriously hindered the development of Chinese national capitalism and made the working class and working people in China more brutally exploited and oppressed. As Chairman Mao said, "The purpose of imperialist powers' invasion of China is by no means to turn feudal China into capitalist China. The purpose of the imperialist powers is the opposite. They want to turn China into their semi-colony and colony. " (Mao Zedong: China Revolution and China * * * Production Party, Selected Works of Mao Zedong (bound volume), p. 59 1 p.). Imperialism exports capital not only to backward countries, but also to developed capitalist countries. When Lenin criticized Kaucki, he pointed out: "Imperialism is characterized by not only trying to annex agricultural areas, but even trying to annex areas with extremely developed industries" (Lenin: Imperialism is the highest stage of capitalism, p. 82). The same is true of capital export. Exporting capital to developed capitalist countries and even other imperialist powers is a means for imperialist countries to compete for each other's domestic investment places and commodity sales markets. This kind of capital export will also aggravate the exploitation of the people of the importing country, affect the economic and political development of the importing country, and make the economic and political of the weaker importing country controlled by the stronger exporting country to varying degrees. Capital export will also bring serious consequences to the exporting country itself. It has turned exporting countries into "food-oriented countries" and caused the stagnation of economic development to some extent. The imbalance of capital output in various capitalist countries is a factor of unbalanced economic development in these countries. All imperialist countries export capital, which can't help but cause a sharp struggle between them for investment places until the war breaks out. Driven by capitalist interests and selfish desires, driven by the desire and demand of imperialism to carve up and re-carve up the world market, it has become the profound source of war (including local and global) regardless of human will. Every global war will bring heavy disasters to the people, so it will definitely become the eve of the proletarian revolution! Of course, at present imperialism is named terror! In fact, it is the root of terror! [ 1]
In this section, edit the basic form of capital output.
Loan capital output
The export of loan capital means that the governments, enterprises or banks of imperialist countries come forward to lend capital to the governments, enterprises or banks of other countries. The monopoly bourgeoisie exports capital in the form of loan capital to obtain interest, and puts forward various conditions to the importing countries, especially requiring the importing countries to provide favorable conditions for their production capital export and commodity export. For example, when the reactionary government borrowed money from imperialism before liberation, it promised them to lay a railway in China. France's foreign investment is mainly in Europe, first in Russia, and most of it is in the form of loan capital. Lenin said that French imperialism is different from British colonial imperialism and can be called usury imperialism.
Output of production capital
The export of production capital refers to the direct investment of governments, enterprises or banks in imperialist countries, the establishment of enterprises abroad or independently, or the establishment of joint ventures with foreign capital, or the buyout of existing foreign enterprises at low prices. The monopoly bourgeoisie exports capital in the form of production capital, so as to buy raw materials and labor for production in importing countries and sell them on the spot at a price far lower than that at home, thus obtaining monopoly high profits. 1From the end of the 9th century to the beginning of the 20th century, until the eve of World War I, the major countries exporting capital were Britain, France and Germany, among which Britain ranked first. Although the United States has exported capital to other countries in the American continent, its debt is still relatively large. At that time, Britain mainly exported production capital, mostly to its colonies, which was closely related to its large number of colonies.
Edit the impact of capital output in this section.
1. Capital export has two consequences in exporting countries.
On the one hand, capital export has enabled exporting countries to acquire a lot of wealth and greatly enhanced their economic strength. On the other hand, exporting countries have also created a rentier class. Because a large amount of capital has been invested abroad, domestic investment has decreased, resulting in the stagnation and slow development of their own economies. /kloc-the slow economic development of Britain and France, the two major capital exporting countries at the end of 0/9 and the beginning of the 20th century, is a good proof.
2. Capital export has a dual impact on importing countries.
On the one hand, capital export objectively accelerates the disintegration of natural economy in importing countries, brings advanced technology and management experience, and alleviates the contradiction of capital shortage to a certain extent, thus promoting the emergence and development of capitalist mode of production in importing countries and promoting economic and social progress. On the other hand, because the purpose of capital export is to monopolize the market of backward countries and grab excess profits, capital export will destroy or hinder the development of local national capitalism or make the national capital of importing countries subordinate. This has caused the abnormal and slow economic development of backward countries, and the most fundamental consequence is that it has hindered the economic development and social progress of importing countries.
3. Capital export has also aggravated various contradictions.
Because the essence of capital export is a means for imperialist countries to exploit and enslave colonies and semi-colonies, it intensifies the contradiction between imperialism and colonial and semi-colonial people and triggers the national democratic revolution of the people in Asia, Africa and Latin America. At the same time, capital export is a means to seize the market of backward countries, attack competitors, and divide or re-divide spheres of influence, which strengthens the imbalance of imperialist economic development, so capital export also intensifies the contradictions among imperialist countries.
self-examination/introspection
Capital export is a reflection of the global expansion of the advanced capitalist mode of production, which accelerates the formation of the capitalist world system, strengthens the ties around the world, promotes the internationalization of capital and production and promotes the development of the world economy. [2]
In this section, the development strategy of China's capital export is edited.
1. Division of Comparative Advantage in Value Chain
The division of labor between countries is the division of comparative advantage in the value chain. Foreign direct investment is not only an asset transaction process, but also the transfer of non-financial and intangible assets. Whether an enterprise wants to develop abroad depends on the nature of the industry, the comparative advantage of the country and the value chain position of the enterprise. The value activities of enterprises can be divided into basic value-added activities and auxiliary value-added activities. Basic value-added activities are divided into upstream and downstream links. The upstream links include material supply, product development and production operation. Its center is the product; Whether it has a comparative advantage depends on product technology or production scale. Downstream links include finished product distribution, marketing and after-sales service. Its center is customers and sales channels. If the advantage of multinational companies lies in the upstream link of the value chain, they should adopt global strategy, and if the advantage comes from the downstream link, they should adopt regional product strategy. The key is to maintain the comparative advantage of strategic links, not all links. The strategic link should be tightly controlled within the enterprise, and many non-strategic activities can be outsourced through contracts, making full use of market cooperation to reduce costs. After 20 years of reform and opening up, China not only has comparative advantages in the production of some products, but also has accumulated considerable experience in commodity marketing. If there is a link in high-tech products, such as product assembly is a labor-intensive product, then China enterprises will have a comparative advantage in this link. Modern traffic and information make the product division more detailed, which can be carried out in multiple production links of a product. China's capital export can be carried out in two links: upstream and downstream.
2. The regional choice of China's capital export.
The regions with the best capital export in China should be those countries and regions whose economic development is only half a beat away from China. Perhaps countries in Eastern Europe and Central Asia are more in line with this condition. The industrial base of eastern European countries is not worse than that of China, and the education of people and the technical level of workers are not worse than that of China. However, the degree of domestic marketization in some Eastern European countries is not as good as that in China, and the degree of participation in the world economy is far less than that in China. Eastern European countries have poor export capacity and their products are not competitive in the international market. In these respects, China's economic development is half a step faster than that of Eastern European countries. The cooperation between China and Eastern European countries can give full play to their respective comparative advantages. Foreign direct investment will eventually solve the problem of coordination between countries. Every country's goals are almost certainly not exactly the same. For example, the macro-management of inflation, the protection of employment, the prediction of the future, the government's goals and the country's long-term goals may be inconsistent, and so on. There will also be many contradictions in the distribution of interests and costs between countries. These differences will inevitably lead to different goals pursued by countries. Therefore, capital export must pursue the same goal for both sides in a certain period of time. This goal must be timely. Try to protect this * * * with the target as long as possible.
3. Adjustment of industrial structure in China.
Economic development is a process of constant adjustment of industrial structure. According to their comparative advantages in the world economy, each country has its own "sunset industry" and emerging industries. At the end of World War II, the United States was the largest producer of labor-intensive products in the world. With the development of science and technology and the rise of average wage level, these industries gradually become sunset industries and then move to Japan. Japan's economic take-off in the 1960s benefited from these labor-intensive products. When Japan lost its comparative advantage, the four little dragons in Asia quickly took its place and became the "umbrella kingdom" and the "shoes and hats kingdom". After China's reform and opening up, these labor-intensive products gradually moved to Chinese mainland.
4. The main body of China's capital export
Most of the existing foreign economic cooperation institutions in China are state-owned enterprises. They are relatively large in scale and have some experience. However, like other state-owned enterprises, due to unclear internal property rights and lack of correct incentive mechanism, they are not only competitive in the domestic market competition, but also expose many disadvantages in the international market competition. Before the thorough reform, it is difficult to expect these enterprises to undertake the heavy responsibility of capital export. Private enterprises in China have grown rapidly in the domestic competition, and their GDP has surpassed that of the state-owned sector. However, most private enterprises are small in scale and lack talents and experience in foreign exchange. Therefore, in the future, we should support private enterprises in a planned way, provide information and consulting services, lift the shackles of various foreign policies on private enterprises, improve their competitiveness in the international market, and encourage more qualified private enterprises to go abroad. The main force of China's future capital export must be the rapidly rising private enterprises.