gender Essay -- essays research papers

Introduction Women have come a long way in the area of the work advertise in the past one degree Celsius years. If you were to look back one hundred years ago, you would never see a adult female working outside of the home. lodge had the idea that a womans place was in the home cooking, cleaning, reproducing and care giving. They had the idea that in that location was no place for her in the work vehemence because that was a place for sole(prenominal) men. Yes, it is true that some people may still have this view today but a lot of things have changed over the years. Women are no longer all restricted to working in the home doing domestic chores. However, this did not come easily but rather after many years of fighting to get the same rights as men. Slowly women started to enter the work military unit fulfilling roles such as secretaries and nurses. It was jobs like these that were viewed as womans jobs and you would never see a woman doctor, fire-eater or police officer. Wo men were still being marginalized into a certain category of jobs. However, women continued their fight and today they fulfill such roles as doctors, fireman and police officers. In this essay, we will focus on the entry of women into the police force. We will not only look at what it took for women to get into the police force but also what types of roles they play in the police force today. In addition, we will look at what roles women hope to play in the police force in the future. By doing this we hope to show you how far women have come in the area of police work in the past one hundred years and how far they will still have to go. History of Women In The Police Force In the past, policing and women were never associated with each other. Policing was a male rule profession which women were not welcomed to join. However, these biases and unfair beliefs that women were not welcomed in the police force began to change slowly. In the nineteen tens and twenties woman began to be em ployed by the police forces. Womens social groups began to lobby that women should be able to be employed by police forces. With all of the support groups that women were involved in, pressure began to mount for there to be a representation of women in male dominated police forces. The first women police officer in Canada was sworn in the Vancouver police force in 1912. "1912 Vancouver - Mrs. Lurancy Harris and Miss Miller were sworn in as 4th clas... ...rk. This includes such jobs as police chiefs, police sergeants and deputy police chiefs. However, they will only be able to prove themselves to the public and the police force if they are given the same chances as men to obtain these positions Reference Page Cohn, Alvin W. 1978. The future of Policing. Beverly Hills, CA Sage publications Inc. Hernandez, E. 1982. womanlys in Law Enforcement. Femininity, Competence, Attraction, and Work Acceptance. Criminal Justice and Behavior, 9, 113-34 Kearney, Katherine G. White & ampere Th omas. Men & Women at Work LeBeuf, Marcel-Eugene & McLean, Julia. 1997. Women in Policing in Canada Beyond the Year 2000-Its Challenges. Ottawa, On Canadian Police College. Lunneborg, Patricia W. 1989. Women Police Officers. Springfield, Illinois Charles C Thomas Publishers. Martin, Susan Ehrlich, and Jurik, Nancy C. Doing Justice, Doing Gender. Sage Publications "RCMP Having Trouble Getting and Keeping Female Mounties". Canadian Business & Culture . pg.11. August, 1996. "Survey Suggests Majority of Female Mounties Have Been Sexually Harassed". Canadian Business & Culture. pg.26. September, 1996.

Mercutio as Catalyst in Shakespeare’s play, Romeo and Juliet Essay

Mercutio as Catalyst in Shakespeares play, Romeo and Juliet In Shakespeares play, Romeo and Juliet, the quick-witted character Mercutio is a notorious scene-stealer (Utterback 105). Mercutios major function in the play is to be a catalyst for the plot. Mercutios purpose as a character is most significantly revealed in his relationship with Romeo, his baiting of Tybalt, and his death. More importantly, Mercutio functions as the catalyst for the pattern of disasters in the play that follows his own tragic death, making him, as described by tyro Stephen Greenblatt a spirit that seems to challenge the very possibility of romantic love or tragic destiny (856). Mercutios role in the play is in a flash linked to his relationship with his very friend, Romeo (III.i.108). This bond and camaraderie of the men provides the basis for the revelation of Mercutios character as a foil to Romeo. These basic roles for the ii friends mean that, through the badinage, Mercuti o is essentially active and Romeo reactive or passive (Porter 103). For example, Mercutio tells Romeo Nay, gentle Romeo, we must have you dance (I.iv.13). He playfully pushes Romeo to borrow cupids wings / And soar with them above a common bound (I.iv.17-18) and advises his friend that If love be rough with you, be rough with love. / Prick love for pricking, and you catch love down (I.iv.27-28). These lines demonstrate Mercutios characteristic need for urgency and action. Romeo by contrast characteristically replies that he is unable to comply with his friends exhortationshe wont dance, dont ask himand his most urgent words, Peace, peace, Mercutio, peace (I.v.95), urge not action but its cessation (Porter 103).... ... pop State University Press, 1965. Phillips, Brian. Character Analysis. SparkNote on Romeo and Juliet. 24 April 2003. http//www.sparknotes.com/shakespeare/romeoandjuliet/canalysis.html.Porter, Joseph A. Shakespeares Mercutio His History and Drama. C hapel Hill University of North Carolina Press, 1988.Romeo and Juliet. Dir. Baz Luhrman. Perf. Leonardo DiCaprio, Claire Danes, Brian Dennehy, and John Leguizamo. 20th Century Fox, 1997.Romeo and Juliet. Dir. Franco Zeffirelli. Perf. Leonard Whiting, Olivia Hussey, John McEnery, and milo OShea. Paramount, 1968. Shakespeare, William. The Most Excellent and Lamentable Tragedy of Romeo and Juliet. The Norton Shakespeare. Ed. Stephen Greenblatt. New York Norton, 1997. 865-939.Utterback, Raymond V. The Death of Mercutio. Shakespeare Quarterly. 24.2 (1973) 105-116.

Death Penalty Essay -- essays research papers

Death by execution has existed as a punishment since the dawn of time. Yet although this has existed plainly forever, the question of its morality has also existed for that same amount of time. Killers kill innocent people, there is no question about that, but does that give us the proper to kill these killers? I do not think so.Racism is often the driving force behind crime. Yet in a justice formation that preaches equality, it too is led by racism. There is a pattern of evidence indicating racial disparities in the charging, sentencing, and imposition of the death penalty according to a 1990 U.S. authorities report. An overwhelming majority of death course defendants since 1977 were executed for killing whites despite the fact that whites and blacks are victims of murder in approximately equal numbers. In Texas, for example, blacks rear guilty of killing whites were found to be six times more likely to receive the death penalty that whites convicted of killing whites. Of the 3,061 inmates on death course 1,246 of them are black, making 40% of death row inmates black. Compare this to the fact that blacks make up 12% of the U.S. population. Furthermore, many black prisoners on death row were sentenced to death by all-white juries after prosecutors had deliberately excluded black people from the jury pool.Racism alone is not the only problem with Capital Punishment. Many inmates on death ...

Why I Like Football Essay -- essays research papers

Why I like Football     Many people love watching and participating in sporting events. Franklin D. Roosevelt, the thirty-second U.S. president once said, "Sports is the genuinely fiber for what we all stand for. It keeps our spirit alive." No matter if watching or playing, football is one of Americas most ordinary sports. Many people attend high school, college, and professional football every year. You can relate many aspects of football and sports to life. . I think football is the better sport I move over ever played or watched.     Football requires tremendous amounts of teamwork and sportsmanship to be successful. No one man can win a football game. He may make a big tackle or a diving catch, but without him and the other 10 players on the empyrean he can not win a game. A football player can not be selfish and put himself before his team. " sensation man practicing sportsmanship is far better than a hundred teaching it& quot said legendary Notre Dame football coach Knute Rockne. Teamwork is vital in the game of football. If you have 9 players doing their job and 2 not doing it then you are not going to be a very successful team. It takes 11 players working and communication together to be successful.     Football is a very exciting game. Millions of people attend games in person and watch them on television. Football is a very unpredictable game, because there is many factors affecting the outcome of the ...

Society?s Arthurian Variety :: essays research papers

Writers have reflected the differences in society and individual opinions over many long time in their writing by slightly altering the plot of Arthurian Romances to appeal to the interests of their community. Arthurian Romances, at early multiplication, were written with themes of magic and violence whereas legends from later on times attributed critical turning points in the plot to the power of love and were more involved, containing a long list of characters. Also affecting the differences in the times are the writers nationality.Earlier Arthurian Romances were written by Celts. Their warrior mentality led the writers to depict gruesome and violent legends. The beginning of The Wife of tubfuls Tale (Canterbury Tales) blatantly describes a knight, who is supposed to uphold the strict regiment of chivalry, violently raping a virgin at first glance. Such an point commonly appears through unwrap Celtic Arthurian Romances and is a reminder of the life of war that they led. The res t of The Wife of Baths Tale has mystical pretences, signifying the Celts belief in the gods of good and evil. The answer to the question of which the malicious knight was questing for was held by a deceptive witch, who appears to be a rich young cleaning lady after gaining the knights respect. The writing style of the Celts also makes the tale appear to be more mysterious by their to-the-point storytelling by leaving out the details which make tales seem real to the audience, in many cases not even giving their characters names instead of positions.From the French perspective, Arthurian Romances took on a whole new profile. Many intertwined characters with elegant names such as Lancelot and Gwenyvere, from Excalibur, promote honor and a strong reverence of love. Whereas knights commonly took advantage of their animal(prenominal) instincts in the Celtic tales, they upheld a strict code of honor, chivalry, from the French perspective. The struggle within Lancelot and Gwenyvere to dis cover why their hearts wanted to make the wrong close when they already had the right and best situation shows that the French did not totally understand the nature of love and believed it to be unpredictable.Arthurian Romances have been depicted in many different ways to tell the same story in the end, but the contrast between the Celtic and French versions sticks out like a sore thumb.

Society?s Arthurian Variety :: essays research papers

Writers have reflected the differences in society and individual opinions over many years in their writing by slightly altering the plot of Arthurian Romances to appeal to the interests of their community. Arthurian Romances, at early times, were written with themes of magic and violence whereas legends from later times attributed critical turning points in the plot to the power of applaud and were more involved, containing a long list of characters. Also affecting the differences in the times are the writers nationality.Earlier Arthurian Romances were written by Celts. Their warrior mentality led the writers to depict gruesome and violent legends. The beginning of The Wife of Baths Tale (Canterbury Tales) blatantly describes a ennoble, who is supposed to uphold the fastidious regiment of chivalry, violently raping a virgin at first glance. Such an occurrence commonly appears throughout Celtic Arthurian Romances and is a reminder of the demeanor of war that they led. The rest of The Wife of Baths Tale has mystical pretences, signifying the Celts belief in the gods of good and evil. The answer to the question of which the malicious knight was questing for was held by a deceptive witch, who appears to be a rich young woman after gaining the knights respect. The writing style of the Celts also makes the boloney appear to be more mysterious by their to-the-point storytelling by leaving out the details which make tales seem real to the audience, in many cases non even giving their characters names instead of positions.From the French perspective, Arthurian Romances took on a whole new profile. Many intertwined characters with elegant names such as Lancelot and Gwenyvere, from Excalibur, promote honor and a strong reverence of love. Whereas knights commonly took advantage of their animal instincts in the Celtic tales, they upheld a strict code of honor, chivalry, from the French perspective. The shinny within Lancelot and Gwenyvere to discover why their heart s wanted to make the wrong decision when they already had the right and best situation shows that the French did not totally understand the nature of love and believed it to be unpredictable.Arthurian Romances have been depicted in many different ways to tell the same story in the end, but the contrast between the Celtic and French versions sticks out like a sore thumb.

Balance Sheet and Net Sales

3 shows the celestial latitude 31, 2009 master- forma commensurateness sheet and income statements for R& E Supplies, Inc. The master- forma repose sheet shows that R& E Supplies will get hold of impertinent funding from the bank of $ 1. 4 million. However, they show $ 1. 27 million in property and short- marge securities. Why be they going to the bank when they puzzle most of the infallible amount in their cash account? 2. Pro forma financial statements, by definition, are predictions of a friendships financial statements at a future point in time.So why is it important to analyze the historical performance of the company before occasioning pro forma financial statements? 3. Suppose you constructed a pro forma parallelism sheet for a company and the estimate for remote backing required was negative. How would you meet this result? 4. Harlin Fencing Companys gross revenue, half of which are for cash, over the past three months were August September October $70,000 $1 20,000 $80,000 a. Estimate Harlins cash communicate in October if the companys collection period is 30 days. b.Estimate Harlins cash receipts in October if the companys collection period is 45 days. c. What would be the October balance of Accounts Receivable for Harlin Fencing if the companys collection period is 30 days? 45 days? 5. Suppose you constructed a pro forma balance sheet and a cash cipher for a company for the same time period and the away financing required from the pro forma bode exceeded the cash deficit estimated on the cash budget. How would you interpret this result? 6. Table 3. 5 presents a reckoner spreadsheet for estimating R& E Sup-plies external financing required for 2009.The text mentions that with modifications to the equations for equity and shed light on sales, the fore-cast can easily be extended through 2010. Write the modified equations for equity and plunder sales. 7. development a computer spreadsheet, the information presented below, and the modified equations de margeined in question 6 above, extend the fore-cast for R& E Supplies contained in Table 3. 5 through 2010. Is R& Es external financing required in 2009 higher or lower than in 2010? R& E Supplies Assumptions for 2009 ($ thousands) Growth rate in net sales 30. 0% Tax rate 45. 0% exist of goods sold/ net sales 86. % Dividend/ earnings later on tax 50. 0% Gen. , sell. & admin. Current assets/ net sales 29. 0% expenses/net sales 11. 0% profit fixed assets $270 Long- term debt $560 Current liabilities/ net sales 14. 4% Current portion long- term debt $100 Interest rate 10. 0% 8.This and the following two problems demonstrate that pro forma forecasts, cash budgets and cash flow forecasts all yield the same estimated need for external financing provided you dont make any mistakes. For problems 8, 9, and 10, you may ignore the effect of added borrowing on entertain expense. The treasurer of Pepperton, Inc. a sell distributor of household appliances, wants to esti mate his companys cash balances for the first three months of 2009. Using the information below, construct a monthly cash budget for Pepperton for January through marching 2009. Does it bet from your results that the treasurer should be concerned about investing excess cash or looking for a bank bring? Pepperton Selected Information Sales (20 percent for cash, the rest on 30- day credit terms) 2008 Actual October $360,000 November 420,000 December 1,200,000 2009 Projected January $600,000 February 240,000 March 240,000Purchases (all on 60- day terms) 2008 Actual October $510,000 November 540,000 December 1,200,000 2009 Projected January $300,000 February 120,000 March 120,000 Wages payable monthly $180,000 Principal payment on debt due in March 210,000 Interest due in March 90,000 Dividend payable in March 300,000 Taxes payable in February 180,000 Addition to accumulated depreciation in March 30,000 Cash balance on January 1, 2009 $300,000 Minimum want cash balance 150,000 9. Co ntinuing problem 8, Peppertons annual income statement and balance sheet for December 31, 2008 appear below.Additional in-formation about the companys account methods and the treasurers expectations for the first quarter of 2009 appear in the footnotes. Pepperton Annual Income Statement December 31, 2008 ($ thousands) Net sales $6,000 Cost of goods sold1 3,900 Gross profits 2,100 interchange and administrative expenses2 1,620 Interest expense 90 derogation3 90 Net profit before tax 300 Tax (33%) 99 Net profit after tax $ 201Balance Sheet December 31, 2008 ($ thousands) Assets Cash $300 Accounts receivable 960 Inventory 1,800 sum of money occurrent assets $3,060 Gross fixed assets 900 Accumulated depreciation 150 Net fixed assets 750 Total assets $3,810 Liabilities Bank loan $0 Accounts payable 1,740 Miscellaneous accruals4 60 Current portion long- term debt5 210 Taxes payable 300 Total current liabilities $2,310 Long- term debt 990 Shareholders equity 510 Total liabilities and e quity $3,810 1.Cost of goods sold consists entirely of items purchased in first quarter. 2 Selling and administrative expenses consist entirely of wages. 3 Depreciation is at the rate of $30,000 per quarter. 4 Miscellaneous accruals are not expected to change in the first quarter. 5 $210 due March 2009. No payments for dispute of year. a. Use this information and the information in problem 8 to construct a pro forma income statement for the first quarter of 2009 and a pro forma balance sheet for March 31, 2009. What is your estimated external financing need for March 31? b.Does the March 31, 2009, estimated external financing equal your cash surplus (deficit) for this date from your cash budget in problem 8? Should it? c. Do your pro forma forecasts tell you more than your cash budget does about Peppertons financial prospects? d. What do your pro forma income statement and balance sheet tell you about Peppertons need for external financing on February 28, 2009? 10. Based on your an swer to question 9, construct a first- quarter 2009 cash flow forecast for Pepperton. 11. Toys- 4- Kids manufactures plastic toys. Sales and return are highly seasonal.Below is a quarterly pro forma forecast indicating external financing needs for 2009. Assumptions are in parentheses. Toys- 4- Kids 2009 Quarterly Pro Forma Forecast ($ thousands) Qtr 1 Qtr 2 Qtr 3 Qtr 4 Net sales $300 $375 $3,200 $5,000 Cost of sales (70% of sales) 210 263 2,240 3,500 Gross profit 90 113 960 1,500 Operating expenses 560 560560 560 Profit before tax (470) (448) four hundred 940Income taxes (188) (179) 160 376 Profit after tax ($282) ($269) $240 $564 Cash (minimum balance $200,000) $1,235 $927 $200 $200 Accounts receivable (75% of quarterly sales) 225 281 2,400 3,750 Inventory (12/ 31/ 08 balance $ 500,000) 500 500 500 500 Current assets 1,960 1,990 3,120 4,450 Net plant & equipment 1,000 1,000 1,000 1,000 Total assets $2,960 $2,708 $4,100$5,450 Accounts payable ( 10% of quarterly sales) 30 38 320 00 Accrued taxes ( payments quarterly in arrears) (188) (179) 160 376 Current liabilities ( 158) ( 142) 480 876 Long- term debt 400 400 400 400 Equity (12/ 31/ 08 balance $3,000,000) 2,718 2,450 2,690 3,254 Total liabilities and equity $2,960 $2,708 $3,570 $4,530 External financing required $ 0 $ 0 $ 530 $ 920 a. How do you interpret the negative numbers for income taxes in the first two quarter? b. Why are cash balances in the first two quarters greater than the minimum required $ 200,000?How were these numbers deter-mined? c. How was external financing required appearing at the bottom of the forecast determined? d. Do you remember Toys- 4- Kids will be able to borrow the external financing required as indicated by the forecast? 12. Continuing with Toys- 4- Kids introduced in the preceding problem, the companys production manager has argued for years that it is inefficient to produce on a seasonal basis. She believes the company should switch to take aim production throughout the year, edifice up finished goods inventory in the first two quarters to meet the peak selling needs in the last two.She believes the company can reduce its apostrophize of goods sold from 70 to 65 percent with level production. a. Prepare a revised pro forma forecast assuming level production. In your forecast assume that quarterly accounts payable under level production equal 10 percent of average quarterly sales for the year. To estimate quarterly inventory, use the following two formulas Inventoryeoq = Inventoryboq + Quarterly production Quarterly cost of sales Quarterly production Annual cost of sales/ 4 where eoq and boq refer to end of quarter and beginning of quarter, respectively.Please ignore the effect of increased external financing required on interest expense. b. What is the effect of the switch from seasonal to level production on annual profits? c. What effect does the switch have on the companys quarterly ending inventory? On the companys quarterly need for externa l financing? d. Do you think the company will be able to borrow the amount of money required by level production? What obsolescence risks does the company incur by building up inventory in anticipation of future sales? Might this be a concern to lenders? 13. You will need to use the Standard & piteouss Market Insight Web site ( www. hhe. com/ edumarketinsight) for this problem. Market Insight presents a spreadsheet entitled Forecasted Values. ( Excel Analytics, Valuation Data, Forecasted Values. )a. How are these forecasts generated? Are they more than wide extrapolation of past trends? b. How useful might these forecasts be for projecting a companys future financing needs? 14. This problem regards you to construct a elemental simulation model. If you do not own simulation software, you can download to your computer a free, full- strength version of Crystal Ball for a one- week trial. Point your browser to www. crystalball. om and select download. a. Problem 7 above asked you to extend the forecast for R& E Sup-plies contained in Table 3. 5 through 2010. Using the same spread-sheet, simulate R& E Supplies external funding requirements in 2009 under the following assumptions. i. Represent the growth rate in net sales as a triangular scattering with a mean of 30 percent and a range 25 percent to 35 percent. ii. Represent the interest rate as a uniform distribution varying from 9 percent to 11 percent.iii. Represent the tax rate as a lognormal distribution with a mean of 45 percent and a standard deviation of 2 percent. . If the treasurer wants to be 95 percent certain of raising generous money in 2009, how much should he raise? ( Grab the triangle below the frequency chart on the right and move it to the left until 95. 00 appears in the Certainty window. ) 15. This problem asks you to prepare one- and five- year financial fore-casts for Aquatic Supplies Company. An Excel spreadsheet containing the companys 2008 financial statements and anxietys projec tions is available for download at www. mhhe. com/ higgins9e. (Select Student Edition Choose> a Chapter >Excel Spreadsheets. Use this information to answer the questions posed in the spreadsheet. 16. The financial statements and additional information for Noble Equipment Corp. appear at www. mhhe. com/ higgins9e. (Select Student Edition Choose >a Chapter> Excel Spreadsheets. ) The companys fiscal year end is September 30. Nobles management wants to estimate the companys cash balances for the last three months of calendar year 2008, which are the first three months of fiscal year 2009. The questions accompanying the spreadsheet ask you to prepare a monthly cash budget, pro forma financial statements, and a cash flow forecast for the period.

Causes of World War II Essay

Identify and explain at least two causes of World War II. Then analyze Americas outside(prenominal) policy before the war, and describe how that policy changed as the war progressed. Be trusted to include a discussion of how the Battle of Britain influenced American opinion. Make sure you use enough details to support your answer.Two causes of World War II were the harsh provisions of the Treaty of Versailles that ended World War I and the rise of nationalist leader Adolf Hitler.Treaty of Versailles The new German government was required to surrender approximately 10 percent of its prewar territory in Europe and all of its overseas possessions. The harbor city of Danzig (now Gdansk) and the coal-rich Saarland were placed under the administration of the League of Nations, and France was allowed to exploit the economic resources of the Saarland until 1935. The German Army and Navy were throttle in size. Kaiser Wilhelm II and a number of other high-ranking German officials were to b e tried as war criminals. Under the terms of Article 231 of the treaty, the Germans sure responsibility for the war and, as such, were liable to pay financial reparations to the Allies, though the actual amount would be determined by an Inter-Allied Commission that would present its findings in. Germans would jump to resent these harsh conditions imposed by the Treaty of Versailles.Adolf Hitler a charismatic leader who rose to power in Germany during intra-war period. German supported him because they needed a strong leader. He promised higher prices for farmers, jobs for unemployed workers, profits for small businesses and an end to the communist threat for large industrialists. After a year in office, Hitler began a compaign to revise the Versailles Treaty. He declared himself the Third Reich. He withdrew Germany from the League of Nations, renounced the Versailles Treaty and re-armed Germany. Hitler annexed Austria and threatened Poland. Germany invaded Poland and World War II began. The American public was decidedly isolationistic and antiwar. When France fell to the Nazis in May 1940, Britain stood alone. Roosevelt began a remarkable and voluminous secret.

Regional Trends in Fdi

REGIONAL TRENDS IN FDI CHAPTER II Salient features of 2011 FDI motions by component part include the following Sub-Saharan Africa drew FDI not only to its instinctive re character references, only if likewise to its emerging consumer markets as the harvest- condemnation outlook remained positive. Political uncertainty in uniting Africa deterred investing in that locality. FDI inflows reached new record levels in both eastward Asia and reciprocal ohm-east Asia, duration the latter is catching up with the former through higher FDI growth. FDI inflows to confederation Asia turned around as a result of higher inflows to India, the dominant FDI recipient in the voice. regional and global c mount ups still weigh on FDI in westernmost Asia, and prospects remain unclear. South the States was the main device driver of FDI growth in Latin the States and the Caribbean. The design of investiture by conventional investors Europe and the get together States is changing, spell there has been an gain ground in FDI from developing countries and Japan.A repenny swop towards industrial policy in major countries may lead to investment flows to targeted industries. FDI flows to economies in transition recovered strongly. They ar expected to grow further, partly because of the accession of the Russian Federation to the macrocosm Trade Organization (WTO). The search for energy and mineral resources resulted in cross-border megadeals in essential countries, but the euroz peerless crisis and a loosely weak outlook still cloud investor sentiment. FDI inflows to the structur every(prenominal)y weak, vulnerable and small economies were mixed. While FDI to landlocked developing countries (LLDCs) grew strongly, inflows to least true countries (LDCs) and small island developing States (SIDS) continued to fall. 38 World investing Report 2012 Towards a New multiplication of investment funds Policies INTRODUCTION In 2011, FDI inflows enlarged in all major economic groups ? certain, developing and transition economies ( flurry II. 1).Developing countries accounted for 45 per pennyimeimeime of global FDI inflows in 2011. The increase was driven by einsteinium and South eastern fall in States Asia and Latin America. East and South-East Asia still accounted for almost half of FDI in developing economies. Inflows to the transition economies of South-East Europe, the Commonwealth of In enumerateent States (CIS) and Georgia accounted for an another(prenominal) 6 per penny of the global sum. The rise in FDI outflows was driven in the main by the growth of FDI from developed countries.The growth in outflows from developing economies seen in the past several long time appe ard to lose some momentum in 2011 because of significant declines in flows from Latin America and the Caribbean and a stave in the growth of investments from developing Asia (excluding western hemisphere Asia). FDI inflows to the structurally weak, vulnerable and s mall economies bounced back from $42. 2 cardinal in 2010 to $46. 7 billion in 2011, owing to the strong growth in FDI to LLDCs (table II. 1). However, the improvement in their overlap was hardly visible, as FDI inflows to both LDCs and SIDS continued to fall.Table II. 1. FDI flows, by region, cc92011 (Billions of dollars and per centimeime) Region World real economies Developing economies Africa East and South-East Asia South Asia western United States Asia Latin America and the Caribbean renewal economies Structurally weak, vulnerable and small economiesa LDCs LLDCs SIDS Memorandum percentage share in instauration FDI flows Developed economies Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean musical passage economies Structurally weak, vulnerable and small economiesa LDCs LLDCs SIDS 2009 1 197. 606. 2 519. 2 52. 6 206. 6 42. 4 66. 3 149. 4 72. 4 45. 2 18. 3 28. 0 4. 4 50. 6 43. 3 4. 4 17. 2 3. 5 5. 5 12. 5 6. 0 3. 8 1. 5 2. 3 0. 4 FDI inflows 2010 1 309. 0 618. 6 616. 7 43. 1 294. 1 31. 7 58. 2 187. 4 73. 8 42. 2 16. 9 28. 2 4. 2 47. 3 47. 1 3. 3 22. 5 2. 4 4. 4 14. 3 5. 6 3. 2 1. 3 2. 2 0. 3 2011 1 524. 4 747. 9 684. 4 42. 7 335. 5 38. 9 48. 7 217. 0 92. 2 46. 7 15. 0 34. 8 4. 1 49. 1 44. 9 2. 8 22. 0 2. 6 3. 2 14. 2 6. 0 3. 1 1. 0 2. 3 0. 3 2009 1 175. 1 857. 8 268. 5 3. 2 176. 6 16. 4 17. 9 54. 3 48. 8 5. 0 1. 1 4. 0 0. 3 73. 0 22. 0. 3 15. 0 1. 4 1. 5 4. 6 4. 2 0. 4 0. 1 0. 3 0. 0 FDI outflows 2010 1 451. 4 989. 6 400. 1 7. 0 243. 0 13. 6 16. 4 119. 9 61. 6 11. 5 3. 1 9. 3 0. 3 68. 2 27. 6 0. 5 16. 7 0. 9 1. 1 8. 3 4. 2 0. 8 0. 2 0. 6 0. 0 2011 1 694. 4 1 237. 5 383. 8 3. 5 239. 9 15. 2 25. 4 99. 7 73. 1 9. 2 3. 3 6. 5 0. 6 73. 0 22. 6 0. 2 14. 2 0. 9 1. 5 5. 9 4. 3 0. 5 0. 2 0. 4 0. 0 Source UNCTAD, FDI/TNC database (www. unctad. org/fdistatistics). a Without double counting. CHAPTER II Regional Trends in FDI 39 1. Africa A. REGIONAL TRENDS Fig. FID ows Africa move into A.FDI flows, top 5 host and home economies, 20102011 (Billions of dollars) (Host) Nigeria South Africa gold coast Angola Table A. Distribution of FDI flows among economies, by range,a 2011 ikon to a higher place $3. 0 billion $2. 0 to $2. 9 billion Inflows Outflows Nigeria, South Africa .. and Ghana Congo, Algeria, Morocco, .. Mozambique, Zambia Sudan, Chad, Democratic $1. 0 to democracy of the Congo, Guinea, Angola, Zambia $1. 9 billion Tunisia, United res publica of Tanzania, Niger Mada bollix upcar, Namibia, Uganda, $0. 5 to Equatorial Guinea, Gabon, Egypt, Algeria $0. billion Botswana, Liberia Zimbabwe, Cameroon, Cote dIvoire, Kenya, Senegal, $0. 1 to Mauritius, Ethiopia, Mali, Liberia, Morocco, Libya $0. 4 billion Seychelles, Benin, Central African Republic, Rwanda, Somalia Swaziland, Cape Verde, Djibouti, Democratic Republic of the Congo, Mauritius, Malawi, Togo, Lesotho, Sierra Gabon, Sudan, Senegal, Niger, Tunisia, Togo, Leone, Mauritania, Gambia, Zimbabwe, Kenya, Cote dIvoire, Seychell es, Below Guinea-Bissau, Eritrea, Sao Ghana, Guinea, Swaziland, Mauritania, Burkina $0. billion Tome and Principe, Burkina Faso, Botswana, Benin, Mali, Guinea-Bissau, Faso, Comoros, Burundi, Egypt, Sao Tome and Principe, Cape Verde, Namibia, Angola Mozambique, Cameroon, South Africa, Nigeria a Economies are listed fit to the magnitude of their FDI flows. (Home) Zambia Egypt Congo Algeria Algeria 2011 2010 Liberia 0. 0 0. 2 0. 4 0. 6 0. 8 1. 0 2011 2010 1. 2 1. 4 1. 6 0. 0 1. 0 2. 0 3. 0 4. 0 5. 0 6. 0 7. 0 8. 0 9. 0 10. 0 Fig.B Africa FDI in ows Figure B. FDI inflows, 20052011 (Billions of dollars) West Africa Fig. C Africa FDI out ows Figure C. FDI outflows, 20052011 (Billions of dollars) 10 8 6 4 2 0 2 Central Africa southerly Africa East Africa nitrogen Africa 2005 2006 2007 70 60 50 40 30 20 10 0 Central Africa Southern Africa North Africa East Africa West Africa 2008 2009 2010 2011 2005 3. 1 2006 2. 5 2007 2. 6 2008 3. 2 2009 4. 4 2010 3. 3 2011 2. 8 Share in world come 4 0. 2 . 6 0. 4 0. 4 0. 3 0. 5 0. 2 Table B. Cross-border M&As by industry, 20102011 (Millions of dollars) Sector/industry Total Primary Mining, quarrying and crude Manufacturing Food, beverages and tobacco plant Chemicals and chemical outputs Metals and alloy products Electrical and electronic equipment Services Trade Transport, storage and communications Finance Business serve Table C. Cross-border M&As by region/ rustic, 20102011 (Millions of dollars) Region/countryWorld Developed economies European Union United States Japan otherwise developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies 4 812 22 22 4 393 15 810 441 181 10 674 37 8 072 6 722 1 838 1 931 3 199 246 1 048 365 499 10 922 10 653 84 51 gross revenue 2010 2011 8 072 2 516 2 516 303 263 5 32 -9 5 253 84 1 912 134 2 994 7 205 1 664 1 595 1 922 1 026 155 286 470 3 619 2 161 489 910 149 Purchases 2010 2011 3 309 28 28 404 2 15 2 933 49 2 547 436 Sales 2010 2011 205 4 308 2 528 1 408 649 278 2 865 408 1 679 318 464 -5 130 Purchases 2010 2011 3 309 1 371 1 240 45 86 1 550 365 257 38 965 75 388 4 812 4 265 1 987 41 2 236 547 408 78 217 Table D. Greenfield FDI projects by industry, 20102011 (Millions of dollars) Sector/industry Total Primary Mining, quarrying and fossil oil colour Manufacturing Food, beverages and tobacco Coke, crude oil and nuclear fuel Metals and metal products locomote vehicles and other carry equipment Services Electricity, plash and piddle Construction Transport, storage and communications Business go Africa as end Africa as investorsTable E. Greenfield FDI projects by region/country, 20102011 (Millions of dollars) Partner region/thriftiness World Developed economies European Union United States Japan otherwise developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies Afric a as finis 88 918 20 237 20 237 39 506 1 888 23 235 2 093 2 568 29 175 5 432 7 630 6 381 5 429 2010 82 315 22 824 22 824 31 205 5 185 9 793 5 185 3 118 28 286 10 477 3 303 5 345 5 619 2011 6 662 1 246 1 246 7 506 175 5 684 429 99 7 910 899 2 627 1 274 2010 16 551 4 640 4 640 4 798 628 2 212 9 7 113 1 441 1 223 68 2 282 2011 88 918 48 554 32 095 5 507 473 10 479 37 752 12 226 9 929 4 890 9 897 809 2 612 2010 82 315 38 939 23 633 6 627 1 299 7 380 42 649 10 368 12 357 11 113 7 038 1 774 727 2011 Africa as investors 16 662 1 192 373 49 769 15 462 12 226 141 75 2 517 503 8 2010 16 551 487 182 259 45 16 064 10 368 400 980 cl 1 167 2011 40 World coronation Report 2012 Towards a New Generation of Investment PoliciesContinued fall in FDI inflows to Africa but some cause for optimism. FDI flows to Africa were at $42. 7 billion in 2011, marking a third successive division of decline, although the decline is marginal (figure B). Both cross-border mergers and acquisitions (M&As) (tables B a nd C) and greenfield investments by foreign transnational corporations (TNCs) (tables D and E) decreased. In terms of share in global FDI flows, the continents position diminished from 3. 3 per cent in 2010 to 2. 8 per cent in 2011 (figure B).FDI to Africa from developed countries fell groovyly, leaving developing and transition economies to increase their share in inward FDI to the continent (in the case of greenfield investment projects, from 45 per cent in 2010 to 53 per cent in 2011 table E). However, this picture of an overall declining abridge in FDI does not reflect the situation across all parts of the continent. The negative growth for the continent as a whole was driven in cosmic part by reduced flows to North Africa caused by policy-making unrest and by a small number of other exceptions to a generally to a greater extent positive trend.Inflows to sub-Saharan Africa1 recovered from $29. 5 billion in 2010 to $36. 9 billion in 2011, a level comparable with the peak in 2008 ($37. 3 billion). North Africa has traditionally been the recipient of almost one third of inward FDI to the continent. Inflows in 2011 halved, to $7. 69 billion, and those to the two major recipient countries, Egypt and Libya, were negligible. Outward FDI from North Africa also fell sharply in 2011 to $1. 75 billion, compared with $4. 85 billion in 2010. These figures are in stark contrast with the peak of 2008 when the outward FDI of North African ountries reached $8. 75 billion. Flows to West Africa were destined primarily for Ghana and Nigeria, which together accounted for some tercet quarters of the subregions inflows. Guinea emerged with one of the strongest gains in FDI growth in 2011, a trend that is apt(predicate) to continue in the next few years in view of the $6 billion that State-owned mainland chinaware military group Investment Corporation plans to invest in bauxite and alumina projects. Overall, inward FDI flows to West Africa expanded by 36 per cent, to $1 6. 1 billion.The bulk of FDI in Central Africa goes to three commodity- abstruse countries the primarily fossil oil-exporting Congo and Equatorial Guinea and the mineralexporting Democratic Republic of the Congo. Although inward FDI flows to Congo grew strongly in 2011, weak inflows to the Democratic Republic of the Congo touched the region as a whole and resulted in inward investment flows to Central Africa falling by 10. 2 per cent overall to $8. 53 billion. internal FDI to Southern Africa, recovered from a 78 per cent decline in 2010, to a greater extent than doubling its addity to $6. 37 billion.This reversal was precipitated primarily by the sharp rebound of flows to South Africa, the regions largest FDI recipient. Inflows to Angola, however, declined by over $2 billion. East Africa, with historically the lowest FDI inflows in sub-Saharan Africa, reversed the downward trend of 20092010 to reach $3. 96 billion, a level just 5 per cent to a lower place the peak of 2008. As m ost countries in this subregion have not been considered rich in natural resources, they have not traditionally attracted large investments into exportoriented production in the essential domain, except in agriculture.However, the discovery of gas handle is likely to change this pattern significantly. New oil- and gas-producing countries are emerging as major recipients of FDI. Oil production in subSaharan Africa has been dominated by the two principal manufacturing business countries, Angola and Nigeria. Nigeria was Africas largest recipient of FDI flows ($8. 92 billion) in 2011, accounting for over one fifth of all flows to the continent. In gross terms, Angola attracted FDI inflows worth $10. 5 billion, although in dinero terms, divestments and repatriated income left its inflows at -$5. 9 billion. Aside from these major oil-producing countries, investors are looking farther afield in search of oil and gas reserves. Ghana, in feature, benefited from FDI in the newly develope d Jubilee oil field, where commercial production started in December 2010. Elsewhere, Tullow Oil (United Kingdom) announced its plan to invest $2. 0 billion to establish an oil refinery in Uganda. Noble Energy (United States) also announced plans to invest $1. 6 billion to set up production wells and a processing computer program in Equatorial Guinea.Inward FDI flows to Uganda and Equatorial Guinea were $792 million and $737 million respectively in 2011, but announced greenfield projects order future investments of $6. 1 billion in Uganda and $4. 8 billion in Equatorial Guinea, indicating strong FDI growth in these countries. CHAPTER II Regional Trends in FDI 41 If oil reserves off the Atlantic coast of Africa have drawn significant FDI to that region, natural gas reserves in East Africa, especially the offshore fields of Mozambique and the United Republic of Tanzania, enforce equal promise. In 2011, inflows of FDI to Mozambique doubled from the prior year, to $2. 9 billion. New discoveries of large-scale gas reserves continue to be made in 2012. Development of gas fields and the liquefied natural gas (LNG) industry go forth require huge upfront investments and presents considerable technological challenges. FDI is certain to play a large role in developing this industry in the region, as exemplified by the plans announced by Eni (Italy) to invest $50 billion to develop the gas fields recently discovered in Mozambique. Sectoral shift emerging, especially towards go. The limited volume of FDI to Africa tends to make inflows vary widely from year to year.Nevertheless, viewed over a longer time period, a discernible vault of heavenal shift is taking place in FDI to Africa. Data on greenfield projects by three-year periods show that, contrary to popular perceptions, the relative importance of the primary sector is declining, although the total value of projects is holding steady (figure II. 1). The data on projects in services in the period 20062008 are inf slowd by the announcements of no fewer than 13 effection projects worth more than $3 billion each, which take many years to complete. Still, a general ascendancy of the services sector is clear.Aside from the construction industry, projects are drawn into industries such(prenominal) as electric, gas and water distribution, and transport, storage and communications in the services sector and industries such as coke, petroleum products and nuclear fuel in the manufacturing sector. This shift is more about variegation of naturalresource-related activities than a decline of the extractive industry. Many of the projects in manufacturing and services are premised on the availability of natural resources or play a supporting role for the extractive industry.Such projects include a $15 billion project by Western Goldfields (Canada) to construct a coal-fired power station in Nigeria and an $8 billion project by Klesch & Company (United Kingdom) to build an oil refinery in Libya, both anno unced in 2008. Better prospects for 2012. The regions prospects for FDI in 2012 are promising, as strong economic growth, ongoing economic reforms and high commodity prices have improved investor perceptions of the continent. comparatively high profitability of FDI in the continent is another factor.Data on the profitability of United States FDI (FDI income as a share of FDI stock) show a 20 per cent return in Africa in 2010, compared with 14 per cent in Latin America and the Caribbean and 15 per cent in Asia (United States Department of Commerce, 2011 51). In addition to traditional patterns of FDI to the extractive industries, the emergence of a middle class is fostering the growth of FDI in services such as banking, retail and telecommunications. UNCTADs forecast of FDI inflows also points to this pattern (figure I. 10).It is especially likely if investor confidence begins to return to North Africa and compensates for the recent declines in this region. Figure II. 1. Value of gre enfield investments in Africa, by sector, 20032011 (Billions of dollars) 500 450 400 350 300 250 200 150 100 50 0 Services Manufacturing Primary 20032005 20062008 20092011 Source UNCTAD, based on data from Financial Times Ltd, fDi Markets (www. fDimarkets. com). 42 World Investment Report 2012 Towards a New Generation of Investment Policies Fig. FID ows Africa 2. East and South-East Asia Table A. Distribution of FDI flows among economies, by range,a 2011 RangeAbove $50 billion $10 to $49 billion Inflows china, Hong Kong (China), Singapore Outflows Hong Kong (China), China Fig. FID ows East and South-East Asia Figure A. FDI flows, top 5 host and home economies, 20102011 (Billions of dollars) (Host) (Home) China Hong Kong, China China Indonesia, Malaysia Singapore, Republic of Korea, Malaysia, Taiwan res publica of China, Thailand Indonesia, Viet Nam Hong Kong, China Singapore Viet Nam, Thailand, Mongolia, $1. 0 to $9. 9 Republic of Korea, Macao (China), billion Philippines, Brune i Darussalam $0. 1 to $0. 9 Cambodia, Myanmar, Lao Peoples billion Democratic Republic Below $0. billion a Singapore Republic of Korea Malaysia 0 20 40 60 80 .. Mongolia, Macao (China), Cambodia, Brunei Darussalam, Philippines, Lao Peoples Democratic Republic Indonesia Democratic Peoples Republic of Korea, Timor-Leste, Taiwan Province of China Malaysia 0 20 40 60 80 2011 2010 100 120 140 2011 2010 100 120 Economies are listed according to the magnitude of their FDI flows. Fig. B East & South-East Asia FDI in ows Figure B. FDI inflows, 20052011 (Billions of dollars) Fig. C East & South-East Asia FDI out ows Figure C. FDI outflows, 20052011 (Billions of dollars) 240 200 160 120 80 40 South-East Asia East Asia 20 280 240 200 160 120 80 40 0 South-East Asia East Asia 2005 16. 3 2006 13. 4 2007 12. 0 2008 13. 2 2009 17. 2 2010 22. 5 2011 22. 0 Share in world total 0 2005 2006 2007 2008 2009 2010 2011 7. 9 8. 1 7. 9 8. 4 15. 0 16. 7 14. 2 Table B. Cross-border M by industry, 20102011 (M illions of dollars) Sector/industry Total Primary Mining, quarrying and petroleum Manufacturing Food, beverages and tobacco Chemicals and chemical products Electrical and electronic equipment Precision instruments Services Electricity, gas and water Trade Finance Business servicesTable C. Cross-border M by region/country, 20102011 (Millions of dollars) Region/country World Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies 26 417 427 607 11 423 2 383 1 796 864 78 15 421 796 194 952 5 642 Sales 2010 2011 32 715 5 214 4 780 10 253 3 078 1 159 3 279 806 17 248 2 280 1 704 6 484 4 365 67 609 18 844 18 932 6 994 3 714 2 396 331 3 41 771 1 345 1 912 33 111 483Purchases 2010 2011 67 966 19 301 19 695 12 609 961 6 596 1 794 684 36 056 3 855 1 752 31 215 1 273 26 417 7 439 1 288 673 3 229 2 249 18 087 257 18 870 1 201 2 320 79 Sal es 2010 2011 32 715 15 007 4 548 2 086 6 760 1 613 15 346 78 12 968 539 1 758 159 1 531 67 609 34 985 17 977 4 849 647 11 511 32 604 499 18 870 1 731 127 14 664 20 Purchases 2010 2011 67 966 45 773 13 906 12 369 1 084 18 414 21 814 1 679 12 968 2 417 253 9 311 379 Table D. Greenfield FDI projects by industry, 20102011 (Millions of dollars) Sector/industryTotal Primary Mining, quarrying and petroleum Manufacturing Chemicals and chemical products Metals and metal products Electrical and electronic equipment Motor vehicles and other transport equipment Services Construction Transport, storage and communications Finance Business services Table E. Greenfield FDI projects by region/country, 20102011 (Millions of dollars) 2011 Partner region/economy World Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economiesEast and South-East Asia as destination 213 770 3 658 3 647 129 489 16 410 14 856 34 930 28 559 80 623 4 601 13 226 15 900 13 471 2010 206 924 4 444 4 444 131 800 25 582 16 735 21 578 17 921 70 681 7 021 19 141 16 451 10 255 2011 East and South-East Asia as investors 143 094 4 262 4 262 104 303 7 980 16 028 26 528 10 523 34 530 5 030 5 943 4 777 4 200 2010 East and South-East Asia as destination 213 770 136 798 44 341 44 237 36 353 11 866 71 324 141 63 779 1 955 2 910 2 531 5 648 East and South-East 125 466 5 158 5 158 85 119 6 480 24 522 11 376 9 084 35 189 3 840 6 745 5 250 1 682 2010 06 924 133 339 57 936 33 515 30 198 11 690 72 353 400 56 138 10 973 3 965 675 1 232 2011 Asia as investors 143 094 32 559 5 567 8 093 362 18 537 105 283 9 929 63 779 18 556 2 541 9 556 5 253 2010 125 466 16 470 7 123 5 961 510 2 877 102 434 12 357 56 138 19 050 5 930 8 950 6 563 2011 CHAPTER II Regional Trends in FDI 43 South-East Asia is catching up. Registering a 14 per cent increase, total FDI inflows to East and SouthEast A sia amounted to $336 billion in 2011 (figure B). The region accounted for 22 per cent of total global FDI flows, up from about 12 per cent before the global monetary crisis.FDI inflows reached new records in both subregions, as well as in the major economies, such as China Hong Kong, China Singapore and Indonesia (figure A). South-East Asia continued to outperform East Asia in FDI growth. Inflows to the former reached $117 billion, up 26 per cent, compared with $219 billion, up 9 per cent, in the latter, narrowing the gap surrounded by the two subregions (figure B, annex table I. 1). Among the economies of the Association of Southeast Asian Nations (ASEAN), four Brunei Darussalam, Indonesia, Malaysia and Singapore sawing machine a considerable rise in their FDI inflows.The performance of the relatively low-income countries, namely Cambodia, the Lao Peoples Democratic Republic and Myanmar was generally good as well, though Viet Nam declined roughly. Although natural disaster i n Thailand disrupted production by foreign affiliates in the country, particularly in the automobile and electronic industries, and exposed a weakness of the current supply-chain management systems, FDI inflows to the country remained at a high level of nearly $10 billion, only marginally lower than that of 2010.Overall, as East Asian countries, particularly China, have continued to experience rising wages and production costs, the relative competitiveness of ASEAN in manufacturing has been enhanced. Accordingly, some foreign affiliates in Chinas coastal regions are relocating to South-East Asia,2 while others are moving their production facilities to inland China. The performance of East Asian economies showed a mixed picture. FDI flows to China reached a historically high level of $124 billion in 2011. The second largest recipient in the subregion, Hong Kong, China, saw its inflows increase to $83 billion (figure A), a historic high as well.By contrast, inflows to the Republic of Korea and Taiwan Province of China declined to $4. 7 billion and -$2 billion, respectively. Japan gains ground as investor in the region. Partly as a result of the significant appreciation of the Japanese yen in 2011, TNCs from Japan have strengthened their efforts in investing abroad (section A. 7), particularly in low-cost production locations in South-East Asia. For instance, in 2011, attracted by low labour costs and good growth prospects, Japanese companies pledged to invest about $1. 8 billion in Viet Nam. In China, FDI from Japan rose from $4 billion (4 per cent of total inflows) in 2010 to $6 billion (9 per cent of total inflows) in 2011. In Mongolia, large projects in extractive industries, including the Tavan Tolgoi coal mine, are being implemented or negotiated, some with Japanese investors. In addition, negotiation of the Economic league Agreement with Japan may bring in more FDI to Mongolia. Owing to the worsening sovereign debt crisis and related liquidity problems at home, TNCs from Europe have slowed their footprint of expansion in East and South-East Asia since late 2011.In particular, some European banks have undertaken divestments from the region, selling their Asian operations to regional players, a trend which may continue this year with banks such as HSBC and Royal Bank of Scotland selling assets in Hong Kong, China Thailand and Malaysia. The actions of TNCs from the United States were mixed some in industries such as home appliances have been relocating production facilities to their home countries,4 while others in industries such as automotives have continued to expand in Asia. 5 Greenfield investment dominates, but M are on the rise.Greenfield investment is the dominant mode of entry in East and South-East Asia, although the total amount of investment decreased slightly in 2011 to about $207 billion. In contrast, cross-border M sales in the region change magnitude by about 24 per cent to $33 billion, driven by a surge in South-Eas t Asia, where total M sales more than doubled, reaching $20 billion. Sales in East Asia dropped by one fourth, with a rise in M in China (up 77 per cent to $11 billion) cancel out by a fall in those in Hong Kong, China (down 92 per cent to $1 billion).In manufacturing, the major industries in which greenfield investment took place were chemical products, electronics, automotive and metal and metal products in that order, while those most targeted for cross-border M were electronics and food and beverages. M sales also increased 44 World Investment Report 2012 Towards a New Generation of Investment Policies in services, contributing to a longer-term shift. In China, for example, FDI flows to services surpassed those to manufacturing for the first time as the result of a rise in flows to non-financial services and a retardation of flows to manufacturing.FDI in finance is expected to grow as the country continues to open its financial markets,6 and as foreign banks, including HSBC (U nited Kingdom) and Citigroup (United States), expand their presence through both M and organic growth. 7 Outward FDI East Asia slows down while SouthEast Asia sets a new record. FDI outflows from East and South-East Asia as a whole remained more or less stable after the significant increase in 2010 (figure C). FDI outflows from East Asia dropped by 9 per cent to $180 billion, the first decline since 2005, while those from South-East Asia rose 36 per cent to $60 billion, a record high.FDI outflows from Hong Kong, China, the regions financial centre and largest source of FDI, declined in 2011 by 14. 5 per cent to $82 billion, but increased in the last quarter of the year. FDI outflows from China dropped by 5. 4 per cent to $65 billion. In contrast, outflows from Singapore, the leading source of FDI in South-East Asia, registered a 19 per cent growth, reaching $25 billion. Outflows from Thailand and Indonesia surged, reaching $11 billion and $8 billion. The boom was driven mainly by cr oss-border M in the case of Thailand and by greenfield investments in the case of Indonesia.Diverging patterns in overseas M. TNCs from East and South-East Asia continued to expand globally by actively acquiring overseas assets. Their M purchases worldwide amounted to $68 billion in 2011, marginally higher than the previous record set in 2010. Their cross-border M activities show diverging trends total purchases in developed countries increased by 31 per cent to $46 billion, while those in developing countries declined by 33 per cent to $22 billion (table C).The rise in their M in developed countries as a whole was driven mainly by increases in Australia (up 20 per cent to $8 billion), Canada (up 99 per cent to $9 billion) and the United States (up 155 per cent to $12 billion), while the value of total purchases in Europe decreased by 8 per cent to $17 billion. The rise in M purchases in the developed world corresponded to an increase in M in manufacturing, to $13 billion (table B). Greenfield investment by TNCs from East and South-East Asia dropped, in both number and value (tables D and E).The number of recorded greenfield projects undertaken by firms based in East and South-East Asia was about 1,200. The value of investments dropped by 12 per cent to about $125 billion. In manufacturing, East and South-East Asian TNCs in industries such as metals and metal products as well as food and beverages have been investing more frequently through greenfield investment. In services, companies from East Asia in particular continued to be active players in the M markets in both developed and developing countries. Short-term prospects slowing growth.FDI growth in the region has slowed since late 2011 because of growing uncertainties in the global economy. FDI to manufacturing stagnated in China, but the country is increasingly attracting market-seeking FDI, especially in services. According to the annual World Investment Prospects Survey (WIPS) undertaken by UNCTAD thi s year, China continues to be the most favoured destination of FDI inflows. FDI prospects in South-East Asia remain promising, as the rankings of ASEAN economies, such as Indonesia and Thailand, have risen markedly in the survey. CHAPTER II Regional Trends in FDI 5 3. South Asia Table A. Distribution of FDI flows among economies, by range,a 2011 Range Above $10 billion $1. 0 to $9. 9 billion $0. 1 to $0. 9 billion Below $0. 1 billion a Figure A. FDI flows, top 5 host and home economies, 20102011 Fig. FID ows dollars) (Billions of South Asia (Host) India Iran, Moslem Republic of Pakistan India Iran, Islamic Republic of Pakistan Inflows India India Outflows (Home) Islamic Republic of Iran, Pakistan, Bangladesh .. Sri Lanka, Maldives Islamic Republic of Iran Nepal, Afghanistan, Bhutan Pakistan, Sri Lanka, Bangladesh Bangladesh Sri LankaEconomies are listed according to the magnitude of their FDI flows. Sri Lanka 2011 2010 0 5 10 15 20 25 30 35 Bangladesh 2011 2010 0 3 6 9 12 15 Fig. B South Asia FDI in ows Figure B. FDI inflows, 20052011 (Billions of dollars) 60 50 40 30 10 20 10 0 2005 1. 5 2006 1. 9 2007 1. 8 2008 3. 0 2009 3. 5 2010 2. 4 2011 2. 6 Share in world total 5 0 2005 0. 4 25 20 15 Fig. C South Asia FDI in ows Figure C. FDI outflows, 20052011 (Billions of dollars) 2006 1. 0 2007 0. 9 2008 1. 0 2009 1. 4 2010 0. 9 2011 0. 9 Table B. Cross-border M by industry, 20102011 (Millions of dollars) Sector/industryTotal Primary Mining, quarrying and petroleum Manufacturing Wood and wood products Chemicals and chemical products Non-metallic mineral products Motor vehicles and other transport equipment Services Electricity, gas and water Trade Finance Business services Table C. Cross-border M by region/country, 20102011 (Millions of dollars) Region/country World Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition ec onomies Sales 2010 2011 569 18 18 5 960 4 194 3 4 409 53 275 602 12 875 8 997 8 997 1 940 435 85 152 977 1 937 310 341 701 291 26 682 5 240 5 240 2 499 174 393 14 18 943 95 29 5 745 424 Purchases 2010 2011 6 078 111 111 1 489 6 1 370 24 470 4 478 1 636 1 461 96 5 569 7 439 153 5 319 1 372 596 1 910 38 1 731 342 177 735 Sales 2010 2011 12 875 14 870 12 450 1 576 986 142 2 017 217 2 417 46 133 3 26 682 7 836 971 3 343 3 522 18 823 10 922 1 201 342 898 5 460 24 Purchases 2010 2011 6 078 5 239 1 094 23 40 4 082 1 083 318 539 46 180 245 Table D. Greenfield FDI projects by industry, 20102011 (Millions of dollars) Sector/industryTotal Primary Mining, quarrying and petroleum Manufacturing Chemicals and chemical products Metals and metal products Machinery and equipment Motor vehicles and other transport equipment Services Construction Transport, storage and communications Finance Business services Table E. Greenfield FDI projects by region/country, 20102011 (Millions of dollars) 2011 Partner region/economy World Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies South Asia as destination 2 899 1 080 1 080 43 943 4 224 13 635 2 809 9 483 17 876 1 554 4 554 2 108 2 722 2010 68 019 47 649 4 567 19 223 3 157 11 466 20 369 2 640 3 675 2 552 5 879 2011 20 777 679 679 12 446 3 905 3 740 404 2 349 7 653 511 501 1 823 1 785 2010 South Asia as investors South Asia as destination 62 899 38 423 18 858 11 169 6 258 2 138 23 900 75 18 556 2 177 2 266 826 576 35 593 4 165 4 165 19 435 1 370 8 287 132 2 628 11 993 776 345 1 710 3 228 2010 68 019 41 532 16 008 14 024 8 366 3 135 26 097 980 19 050 1 910 4 093 64 389 2011 20 777 6 368 3 619 728 8 2 012 13 341 4 890 1 955 2 177 3 752 566 1 069 2010South Asia as investors 35 593 4 503 2 512 1 497 8 485 30 266 11 113 10 973 1 910 5 672 598 824 2011 46 World Investment Repor t 2012 Towards a New Generation of Investment Policies FDI inflows to South Asia have turned around. Inflows rose by 23 per cent to $39 billion in 2011 (2. 6 per cent of global FDI flows) after a slide in 20092010 (figure B). The recovery derived mainly from the inflows of $32 billion to India, the dominant FDI recipient in South Asia. Inflows to the Islamic Republic of Iran and Pakistan, recipients of the second and third largest FDI flows, amounted to $4. 2 billion and $1. billion (figure A). Bangladesh has also emerged as an outstanding recipient, with inflows increasing to a record high of $1. 1 billion. In 2011, about 145 cross-border M and 1,045 greenfield FDI projects by foreign TNCs were recorded in South Asia (annex tables I. 4 and I. 9). Cross-border M rose by about 131 per cent in value, and the total reached $13 billion (tables B and C), surpassing the previous record set in 2008. The significant increase was driven mainly by a number of large transactions in extractive industries undertaken by acquirers from the European Union (EU), as well as from developing Asia.By contrast, cross-border M sales in manufacturing declined by about two thirds, to a level below $2 billion (table B). Sales in services amounted to $2 billion as well but were still much below the annual amounts during 20062009. Within manufacturing, the automotive industry ($1 billion) was the main target of investors, while in services, finance ($700 million) was the main target. FDI outflows from South Asia picked up as well. In 2011, outflows from the region rose by 12 per cent to $15 billion, after a decline of three years. Outflows from India, the dominant source of FDI from the region, increased from $13. 2 billion in 2010 to $14. billion in 2011 (figure A). However, Indian TNCs became less active in acquiring overseas assets. The amount of total cross-border M purchases decreased significantly in all three sectors from $5. 2 billion to $111 million in the primary sector, from $2. 5 billion to $1. 5 billion in manufacturing, and from $19. 0 billion to $4. 5 billion in services. The drop was compensated largely by a rise in overseas greenfield projects, particularly in extractive industries, metal and metal products, and business services (table D). Indian companies in information technology services have long been active players in global markets.In recent years, firms in service industries such as banking and food services have also become increasingly active in overseas markets, particularly in developed countries and especially in the United Kingdom. In early 2012, the State Bank of India started offering mortgages in the United Kingdom. India Hospitality Corp. acquired Adelie Food Holding, based in the United Kingdom, for $350 million, to capture growth opportunities in the Indian fast food market. Cautiously optimistic prospects. Countries in the region face various challenges, which need to be tackled in order to build an cute investment climate fo r enhancing development.Recent developments have highlighted new opportunities (box II. 1). The growth of inflows so far appears likely to keep its momentum in 2012. As economic growth in India has slowed, however, concerns have arisen about short-term prospects for FDI inflows to South Asia. Whether countries in the region can overcome old challenges and grasp new opportunities to attract investment will depend to a large extent on Governments efforts to further open their economies and deepen regional economic integration.CHAPTER II Regional Trends in FDI 47 Box II. 1. Attracting investment for development old challenges and new opportunities for South Asia South Asian countries face different challenges in building a conducive business environment and an dinky investment climate, which are crucial for promoting economic development. These challenges include, for instance, stabilization in Afghanistan, security concerns in the Islamic Republic of Iran and Pakistan, and macroecono mic as well as policy-making issues in India.Two issues stand out as major concerns political risks and obstacles at the country level and weak integration processes at the regional level. At the country level, high political risks and obstacles have been an important factor deterring FDI inflows. Countries in the region rank high in the country risk guides of political-risk assessment services, and political restrictions on both FDI and business links between countries in the region have long existed. This has deterred FDI inflows and negatively affected the countries FDI performance. However, recent developments have highlighted new opportunities.For instance, the political kinship between India and Pakistan, the two major economies on the subcontinent, has been moving towards greater cooperation, with Pakistan granting India most-favoured-nation status in November 2011 and India recently announcing that it will allow FDI from Pakistan. In Afghanistan, some FDI has started to fl ow into extractive industries. At the regional level, progress in economic integration (with the South Asian Association for Regional Cooperation as the bring up architect) has been slow, and the trade barriers between neighbouring countries in the region are among the highest in the world.South Asia is perhaps one of the least integrated developing regions intraregional trade accounts for about 2 per cent of total gross domestic product (gross domestic product), compared with more than 20 per cent in East Asia. In addition, investment issues have not yet been included in the regional integration process. As a result, the region has not been able to realize its potential for attracting FDI inflows, especially in promoting intraregional FDI flows. In 2011, intraregional greenfield investment accounted for merely 3 per cent of the regional total, compared with 27 per cent in East and South-East Asia.Nevertheless, high economic growth in major economies in the subregion has created a momentum for regional integration in recent years, and South Asian countries have increasingly realized that regional integration can help them improve the climate for investment and business. The inclusion of an investment agenda in the regional integration process and in particular the creation of a regional investment area can play an important role in this regard. Source UNCTAD and UNESCAP. 48 World Investment Report 2012 Towards a New Generation of Investment Policies 4. West AsiaTable A. Distribution of FDI flows among economies, by range,a 2011 Range Above $10 billion Inflows Saudi-Arabian Arabia, joker .. Outflows Figure A. FDI flows, top 5 host and home economies, 20102011 Fig. FID ows West Asia (Billions of dollars) (Host) (Home) Saudi Arabia bomb United Arab Emirates Lebanon capital of capital of Kuwait $5. 0 to $9. 9 billion United Arab Emirates Kuwait, Qatar Qatar $1. 0 to $4. 9 billion Lebanon, Iraq, Jordan, Syrian Arab Republic Saudi Arabia, Turkey, United Arab Emir ates Lebanon, Bahrain, Oman, Iraq, Yemen, Jordan, Syrian Arab Republic, Palestinian TerritorySaudi Arabia Turkey United Arab Emirates 30 0 1 2 3 4 5 6 Below $1. 0 billion a Oman, Bahrain, Kuwait, Palestinian Territory, Qatar, Yemen Iraq 0 5 10 15 20 2011 2010 25 2011 2010 7 8 9 10 Economies are listed according to the magnitude of their FDI flows. Fig. B West Asia FDI in ows Figure B. FDI inflows, 20052011 (Billions of dollars) Fig. C West Asia FDI out ows Figure C. FDI outflows, 20052011 (Billions of dollars) 100 90 80 70 60 50 40 30 20 10 0 2005 4. 5 2006 4. 6 2007 4. 0 2008 5. 1 2009 5. 5 2010 4. 4 2011 3. 2 Share in world total Other West Asia Gulf Cooperation Council (GCC) Turkey 0 40 30 20 10 0 2005 1. 4 2006 1. 6 2007 1. 5 2008 1. 9 2009 1. 5 Other West Asia Gulf Cooperation Council (GCC) Turkey 2010 1. 1 2011 1. 5 Table B. Cross-border M by industry, 20102011 (Millions of dollars) Sector/industry Total Primary Mining, quarrying and petroleum Manufacturing Wood and wood pro ducts Chemicals and chemical products Metals and metal products Machinery and equipment Services Electricity, gas and water Transport, storage and communications Finance Business services Table C. Cross-border M by region/country, 20102011 (Millions of dollars) Region/countryWorld Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies Sales 2010 2011 4 887 170 170 2 416 10 19 410 2 301 59 100 1 611 172 9 713 2 730 2 682 665 37 180 174 310 6 317 555 338 4 128 895 15 278 1 484 1 484 18 16 19 16 780 400 10 721 4 163 281 Purchases 2010 2011 6 136 37 37 780 89 -2 3 5 319 190 2 568 7 954 314 Sales 2010 2011 4 887 2 257 1 472 112 343 331 2 062 965 127 898 72 21 9 713 8 222 9 412 1 579 33 356 1 187 253 916 18 5 15 278 2 555 683 2 333 461 12 724 10 653 2 320 177 72 Purchases 2010 2011 6 136 2 599 5 083 1 110 1 374 3 420 464 1 758 133 916 147 117 Table D. Greenfield FDI projects by industry, 20102011 (Millions of dollars) Sector/industry Total Primary Mining, quarrying and petroleum Manufacturing Food, beverages and tobacco Coke, petroleum and nuclear fuel Chemicals and chemical products Metals and metal products Services Electricity, gas and water Construction Hotels and restaurants Business services Table E. Greenfield FDI projects by region/country, 20102011 (Millions of dollars) 2011 Partner region/economyWorld Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies West Asia as destination 60 011 1 631 1 631 23 395 1 443 1 165 8 977 3 155 34 985 6 004 11 231 5 431 3 976 2010 69 151 915 915 39 640 3 783 4 472 13 877 8 260 28 595 6 744 6 620 4 686 3 199 2011 West Asia as investors 37 190 7 538 1 110 2 122 1 771 737 29 652 570 13 630 2 921 4 805 2010 West Asia as destination 60 011 36 532 23 370 8 219 1 162 3 782 21 726 2 517 2 541 3 752 12 403 513 1 753 4 194 503 503 19 444 2 414 7 633 3 372 3 088 24 247 2 611 12 603 1 920 921 2010 69 151 38 990 14 911 18 121 2 896 3 062 29 466 150 5 930 5 672 17 535 178 695 2011 West Asia as investors 37 190 3 769 3 454 123 192 28 313 9 897 2 910 2 266 12 403 836 5 108 2010 44 194 9 687 7 481 1 937 269 33 371 7 038 3 965 4 093 17 535 699 1 135 2011 CHAPTER II Regional Trends in FDI 49 Inflows to West Asia declined for a third year. They decreased by 16 per cent to $49 billion in 2011, affected by both the continuing political instability and the deterioration of global economic prospects in the second half of 2011.The level is the lowest since 2005 when FDI flows stood at about $44 billion and far below the record high of about $92 billion registered in 2008 (figure B). Gulf Cooperation Council (GCC) countries are still recovering from the suspension or cancellation of large-scale projects i n previous years. They registered a drop of 35 per cent in FDI inflows, which brought their share in the regions total from 69 per cent in 2010 to 53 per cent in 2011. Saudi Arabia the regions biggest recipient saw a 42 per cent fall in 2011 to $16 billion, which largely explains the overall decline.FDI flows to Oman and Qatar also decreased reaching negative values in the latter but those to Bahrain, Kuwait and the United Arab Emirates rebounded from relatively low values (figure A and annex table I. 1). Some of the big and expensive projects that had prospered in these countries during the precrisis period had to be suspended or cancelled when project finance dried up in the stimulate of the global financial crisis. After a period of calm and consolidation, projects started slowly coming back on line in 2010 but soon face up delays caused by the Arab uprising across the region during 2011, and by new uncertainties about global economic rospects. Some big projects with strong sponsors have managed to secure financing, sometimes with greater use of export credit agencies, in particular from Japan and the Republic of Korea, and highly liquid regional bank lenders. 8 As of October 2011, the cancelled or suspended construction projects in the Middle East and North African market were estimated at $1. 74 trillion, with $958 billion in the United Arab Emirates merely and $354 billion in Saudi Arabia. Construction was one of the most important areas for investment to have emerged in the last oil boom, and the pace of its activity is among the key indicators of investment behaviour in housing, tourism, infrastructure, refineries, petrochemicals and real estate, where foreign investment prospered during the boom years. Strong recovery of FDI into Turkey. Turkey stood as an exception to regional trends, with inflows registering a 76 per cent increase to $16 billion (figure A), maintaining the countrys position as the regions second largest FDI recipient and incr easing its share in the regions total from 16 to 33 per cent.The increase in inflows was mainly the result of a more than three-fold increase in crossborder M sales (annex table I. 3), with two big deals making up most of the total. 10 In addition, Turkeys FDI promotion policy has been shifting towards a more sector-specific approach, aiming directly at high value added, high-tech and exportoriented projects. Investments in automotive and petrochemical industries have been designated primary objectives by the Investment Support and Promotion Agency, and the mining sector will soon be added as well. 1 Political and social unrest has halted FDI to nonGCC Arab countries. Flows to this group of countries which represented 14 per cent of the regions total declined by 26 per cent in 2011 to $7 billion. Spreading political and social unrest has halted FDI inflows in the Syrian Arab Republic and Yemen. Flows to Lebanon were affected by the slowdown in the real estate sector the most impo rtant recipient of FDI as a consequence of adverse spillovers of both the global financial crisis and the regional unrest. Increased oil revenues helped boost FDI outflows.FDI outflows from West Asia rebounded by 54 per cent in 2011 after bottoming out at a five-year low in 2010 (figure C). The rise in oil prices since the end of 2010 made more funds available for outward FDI from the GCC countries. In addition to these countries the regions main outward-investing economies Turkey registered a 68 per cent increase in outward FDI flows. This is reflected in the recovery of both cross-border M purchases and greenfield projects abroad by Turkish investors, with a strong shift of greenfield FDI projects from developed and transition economies to neighbouring developing regions and countries.FDI prospects are still negative for inward FDI to the region. UNCTAD projects that FDI inflows will continue declining in 2012, judging by preliminary data on cross-border M sales and greenfield investment for the first five months of 2012, as 50 World Investment Report 2012 Towards a New Generation of Investment Policies uncertainties at the global and regional levels are likely to cause foreign investors to remain cautious about their investment plans in the region. In the longer term, however, the concentration of oil wealth in the region and the strategic need to urther reduce economic dependence on the oil and gas sectors through economic variegation will create additional business opportunities, and revive the regions attractiveness for foreign investors (see box II. 2). Box II. 2. Economic diversification and FDI in the GCC countries Economic diversification has recently taken high political priority in West Asia, as the lack of job prospects for a rapidly growing, educated and young creation was a key trigger of political unrest. The oil-rich countries saw in the surge of oil prices in the early 2000s an opportunity for change.In 2001, the six GCC members signed an economic treaty aiming to boost their diversification efforts by encouraging the private sector, including foreign investors, to play a more active role and implementing liberalization measures to this end. The new policy role model opened a wider range of activities to FDI. Together with new opportunities offered by the surge in oil revenues, this has increased annual inflows from a relatively modest $1 billion on average during 1990 2000 to $28 billion during 20012011, eaching a record $60 billion in 2008, and targeting mainly services. Stock data from three countries show that in 2010, services accounted for 59 per cent of inward FDI, manufacturing for 27 per cent and the primary sector mainly the oil and gas upstream industry where restrictions on FDI participation remain for 14 per cent (box figure II. 2. 1). Services was also dominant in greenfield FDI projects, attracting 51 per cent of estimated investments during 20032011 44 per cent targeted manufacturing and 5 per cen t went to the primary sector. Box figure II. . 1. Accumulated inward FDI stock in Oman, Qatar and Saudi Arabia, a by sector, 2010 Primary 14 % Business activities 19 % Chemicals 11 % Manufacturing Re ning 7 % Other 9 % Construction 14 % Finance 9% Services 59 % Transport, storage and communications 6% Trade 3% Electricity, gas and water 3% Other services 3% Source UNCTAD, FDI/TNC database (www. unctad. org/fdistatistics). a These three countries accounted for 69 per cent of GCC countries inward FDI stocks in 2010. Sectoral data for Bahrain, Kuwait and the United Arab Emirates are not available.Active industrial policies have targeted FDI in specific activities, using oil revenues to establish projects and encouraging foreign investors to participate for example, in petrochemicals and petroleum improve, and the building of economic zones and new cities. / CHAPTER II Regional Trends in FDI 51 Box II. 2. Economic diversification and FDI in the GCC countries (concluded) The soaring oi l prices and increasing refining margins in the 2000s encouraged Gulf countries to establish refinery/ petrochemical complexes to produce products with higher value added.They also opened the door wider to international oil companies, as providers of technologies and market experience. several(prenominal) projects have been built or are under way, through joint ventures or non-equity agreements with foreign TNCs. Several are hosted in Saudi Arabia, such as Petro Rabigh (with Sumitomo Chemical (Japan)), Al Jubail (with Total (France)), and Fujian (with ExxonMobil (United States) and Sinopec (China)), among others. Similar projects also took place in the United Arab Emirates, Qatar and Oman.Building economic zones and cities has generally consisted of providing advanced information and communications technology, infrastructure and services to attract leading tenants to help establish new, globally competitive industries, especially service-based ones. More than 55 such cities or zones have been established or are under way, generally targeting knowledge-intensive industries. GCC countries clearly experienced higher growth in their non-oil sectors during the 2000s (IMF, 2011), and the shift in their FDI policy allowed foreign direct investors to participate.Progress in equal intervention of GCC-country citizens in freedom of movement, work, residence, economic engagement, capital movement and real estate ownership has spurred intra-GCC FDI, which has helped develop services activities. Despite this progress, hydrocarbons still dominate real GDP and export revenues, and the expansion of the non-oil sectors has not meant a decline in dependence on oil. a High growth rates in non-oil activities have created relatively few job opportunities for national workforce to assuage the high unemployment rates and reliance on government posts. This might indicate a mismatch between career aspirations and available opportunities, on the one hand, and between the skills requ ired by the private sector and those available in the workforce, on the other. This introduces the risk of the consolidation of a dual system, where modern enclaves with expatriate management and workforces are disconnected from the skills of the national workforce which relies mostly on government jobs. GCC countries face common challenges.The scale of diversification plans will require both private and public funding, as well as cooperation and coordination between public and private sectors, which will continue to provide investment opportunities for TNCs. Source UNCTAD. a Oil revenues represented 6088 per cent on average of government revenues during 20052009, and its share in export revenues was 7695 per cent in 2008, except in the United Arab Emirates, where it was 43 per cent (Samba, 2010). b In 2008, national unemployment was estimated at close to 13 per cent in Saudi Arabia, 14 per cent in the United Arab Emirates and 15 per cent in both Bahrain and Oman.The majority of tho se employed worked in government 88 per cent of nationals in Qatar, 86 per cent in Kuwait, 72 per cent in Saudi Arabia and 47 per cent in Oman. In 20072008, the share of migrants in total employment was estimated at 74 per cent in Bahrain, 77 per cent in Oman, 92 per cent in Qatar and 87 per cent in Saudi Arabia (Baldwin-Edwards, 2011). 52 World Investment Report 2012 Towards a New Generation of Investment Policies 5. Latin America and the Caribbean Table A. Distribution of FDI flows among economies, by range,a 2011 Range Above $10 billion $5. 0 to $9. 9 billion $1. to $4. 9 billion Figure A. FDI flows, topFig. FID and home economies, 20102011 5 host ows LAC (Billions of dollars) (Host) British Virgin Islands Chile Inflows Brazil, British Virgin Islands, Mexico, Chile, Colombia Peru, Cayman Islands, Argentina, Bolivarian Republic of Venezuela Outflows British Virgin Islands, Chile Mexico, Colombia Brazil British Virgin Islands Mexico (Home) Panama, Dominican Republic, Uruguay, Cost a Rica, Bahamas, Cayman Islands, Panama, Argentina Honduras, Guatemala, Nicaragua Plurinational State of Bolivia, Trinidad, Tobago, Ecuador, Aruba, El Salvador, $0. to Bahamas, Bolivarian Republic of Barbados, Paraguay, Jamaica, Haiti, $0. 9 billion Venezuela, Peru Guyana, Saint Kitts, Nevis, Saint Vincent and the Grenadines, Cuba Jamaica, Costa Rica, Ecuador, Turks and Caicos Islands, Belize, Guatemala, Nicaragua, Curacao, Saint Lucia, Curacao, Antigua Less than Turks and Caicos Islands, Aruba, and Barbuda, Grenada, Dominica, $0. 1 billion Belize, Sint Maarten, Honduras, Anguilla, Montserrat, Sint Maarten, Suriname, Uruguay, Dominican Suriname Republic, Barbados, Brazil a Economies are listed according to the magnitude of their FDI flows. Mexico Chile Colombia Cayman Islands 70 0 10 20 30 40Colombia 0 10 20 30 40 2011 2010 50 60 2011 2010 50 60 70 Fig. B LAC FDI in ows Figure B. FDI inflows, 20052011 (Billions of dollars) 220 200 180 160 140 120 100 80 60 40 20 0 Fig. C LAC FDI o ut ows Figure C. FDI outflows, 20052011 (Billions of dollars) 120 100 80 60 40 20 0 2005 Share in world total 5. 0 2006 5. 6 2007 3. 6 2008 4. 9 2009 4. 6 2010 8. 3 2011 5. 9 Caribbean Central America South America Caribbean Central America South America 2005 8. 0 2006 6. 7 2007 8. 7 2008 11. 7 2009 12. 5 2010 14. 3 2011 14. 2 Table B. Cross-border M by industry, 20102011 (Millions of dollars) Sector/industryTotal Primary Mining, quarrying and petroleum Manufacturing Food, beverages and tobacco Textiles, clothing and leather Wood and wood products Electrical and electronic equipment Services Construction Transport, storage and communications Business services Community, social and own(prenominal) service activities Table C. Cross-border M by region/country, 20102011 (Millions of dollars) Region/country World Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies 8 414 12 376 11 898 7 398 5 878 50 84 1 742 8 640 18 2 409 2 438 217 Sales 2010 2011 20 689 6 409 6 249 2 766 7 638 119 216 683 11 514 1 417 3 523 1 415 2 565 15 831 2 077 1 981 4 700 2 825 598 69 9 055 49 263 1 070 1 220 Purchases 2010 2011 18 659 650 745 6 035 2 213 425 122 16 13 274 826 6 123 272 4 28 414 2 744 285 395 4 907 1 483 24 741 75 14 664 5 460 4 692 -3 Sales 2010 2011 20 689 908 12 191 3 497 10 946 5 649 17 585 9 311 180 147 7 983 2 119 15 831 12 036 2 905 4 719 125 4 287 3 951 84 79 735 4 692 156 Purchases 2010 2011 8 659 9 173 1 752 5 402 2 019 8 157 -5 159 3 18 7 983 1 329 Table D. Greenfield FDI projects by industry, 20102011 (Millions of dollars) Sector/industry Total Primary Mining, quarrying and petroleum Manufacturing Food, beverages and tobacco Rubber and plastic products Metals and metal products Motor vehicles and other transport equipment Services Electricity, gas and water Transport, storage and communications Fi nance Business services Table E. Greenfield FDI projects by region/country, 20102011 (Millions of dollars) 20 655 2 300 2 300 7 674 1 197 170 1 769 250 10 681 156 3 678 1 290 5 117LAC as destination 120 113 17 234 17 234 68 900 6 258 4 541 20 242 14 774 33 979 9 518 9 916 2 892 7 291 2010 138 680 21 481 21 446 59 166 10 632 3 424 15 233 15 977 58 034 11 989 20 643 2 786 20 557 2011 LAC as investors 21 754 7 429 7 418 8 373 2 038 3 050 678 360 5 952 1 688 1 424 1 392 410 2010 2011 Partner region/economy World Developed economies European Union United States Japan Other developed countries Developing economies Africa East and South-East Asia South Asia West Asia Latin America and the Caribbean Transition economies LAC as destination 20 113 94 771 50 871 21 217 6 585 16 098 23 324 503 9 556 566 836 11 864 2 018 2010 138 680 112 431 57 462 29 109 9 945 15 915 25 880 1 167 8 950 598 699 14 466 370 2011 LAC as investors 21 754 5 200 1 132 566 46 3 456 16 544 809 2 531 826 513 11 864 10 20 10 20 655 3 499 1 319 2 038 93 49 17 156 1 774 675 64 178 14 466 2011 CHAPTER II Regional Trends in FDI 53 South America is the main driver of FDI growth to the region. FDI flows to Latin America and the Caribbean increased by 16 per cent to a record $217 billion in 2011, driven mainly by increasing inflows to South America (up 34 per cent).Inflows to Central America and the Caribbean, excluding offshore financial centres, increased by 4 per cent, while those to the offshore financial centres registered a 4 per cent decrease. The high growth of FDI in South America was mainly due to its expanding consumer markets, high growth rates and natural-resource endowment. In 2011 Brazil remained by far the largest FDI target, with inflows increasing by 37 per cent to $67 billion 55 per cent of the total in South America and 31 per cent of the total in the region.The size of Brazils domestic market explains its attractiveness, as does its strategic position in South America, which brings wi thin easy reach other emerging and fast-growing markets, such as Argentina, Chile, Colombia and Peru. Another important driver for FDI growth to South America has been the relatively high rate of return on investments in the region. Since 2003, South American countries have witnessed significant growth of income on FDI from an annual average of $11 billion during 19942002, equivalent to 0. 84 per cent of the subregions GDP, to an annual average of $60 billion during 20032011, equivalent to 2. 4 per cent of GDP. In 2011, FDI income increased another 17 per cent, reaching $95 billion. 12 The rise in FDI income during the 2000s, in parallel with the increase in FDI stock (a nine-fold increase between 1994 and 2011) and share in GDP (from 11 to 28 per cent share in current GDP), was in part driven by increased investment in extractive industries, which have enjoyed high profitability and have attracted a significant part of FDI inflows since the commodity price boom. For example, in Chi le this industry accounted for 43 per cent of

Holocaust: Germany Adolf

The final solution was a devastating quantify in history that took some lives and changed a lot of peoples outlooks on life history itself. The Holocaust started on January 30, 1933, when Adolf Hitler became chancellor of Germany, and it ended on May 8, 1945 when thewar in Europe ended. During the Holocaust approximately 5,860,000 Jews lost their lives, which include children also. legion(predicate) Jewish communities suffered significant losses during the Holocaust. Also, it is estimated that the Nazis established approximately 15,000 camps in their occupied territories.The Holocaust was a time period of death and racism it involved the might and the baronless. Families, friends, and communities were separated and killed some Jews made it but many died. This huge epidemic involved the mass murder of children, adults, and even the elderly. Due to the levels of power and strength, the Nazis easily took oer and the Holocaust began (Rosenberg). Adolf Hitler, the cruel man whom sta rted the Holocaust, did non always curb power. Surprisingly, Adolf Hitler grew up in a poor family, and had a horrible relationship with his father.Alois Hitler, Adolfs father, treasured Adolf to become a civil servant for the Austrian Empire as he did, but Adolf cherished to study art and become an artist. However, after Alois died, Adolf chased his dream with his m otherwises support and studied art. Adolfs goal was to enter the capital of Austria Academy of Fine Arts, but after applying he had been refused. Vienna Academy of Fine Arts stated that Adolfs work was of unsatisfactory and did non meet their standards. Vienna, filled with 200,000 Jews alone, describes the race of people who kept Adolf Hitler from pursuing his womb-to-tomb dream of becoming an artist.With this being sated, Hitler soon grew fury towards the race of Jews. In 1914 World I Began and Adolf enlisted in the German Army, after serving four historic period and making his way back to Munich, Germany Adolf got a job as a political training official. Here Adolf met the general in command of Bavaria, whom was one of the most(prenominal) important figures of the Nazi. Gaining power, Adolf quit his job in the army and devoted his life to the party of the Nazis. Becoming dictator, Adolf got to feel the power that he always urgencyed to feel, aiming towards the race who stole his dream the Jews were now his target.Hitler had the Nazi party behind him and eventu aloney had thousands of soldiers to help him invade the many countries that housed many Jews. Adolf Hitler, once poor, finally gained the power he envied, and will later use this power in a very negative way (Tynan). Jews, just like everyone else, lived in a society, had a family, had a job, and lived a life. After Adolf Hitler became chancellor of Germany, he began to take over many things including the Jewish race. The hostility towards Jews increased in Germany.This was reflected by many shops and restaurants to not serve the J ewish population. Placards saying Jews not admitted and Jews enter this place at their own risk began to appear all over Germany. In some split of the country Jews were banned from public parks, swimming-pools and even public transport. Germans were also encouraged to not use Jewish doctors or lawyers. Taking over and sending many Jews to the concentration camps, Adolf Hitler managed to kill many millions of Jews. The Jews that lives in these concentration camps lived in conditions that were not even suitable for animals.Almost killing the whole race of Jews, Adolf Hitler was satisfied. Many disturbing events happened Jews were worked to death, viciously tortured, and burned to death. Adolf Hitlers anger towards the Jews showed in this horrible time period. Jews, just like everyone else, had an important life to live however, Adolf Hitler did not see the importance of life in the race of the Jews (Wilson). Children, costless and trusting, were very vulnerable during the Holocaust. The Nazis advocated on killing the children of the unwanted. The Germans killed more than 1. million children. Many children died of starvation and lack of adequate shelter. German governance generally selected children along with the elderly, ill, and disabled, for the first deportations to killing centers, or as the first victims led to mass graves to be shot (Holocaust Museum). In like a shots society children are mostly protected from any harm or danger, but unfortunately the children of the Holocaust were murdered and vulnerable at all times. Think of your childhood, have you ever got lost in a store and separated from your parents?During that time of separation, children become scared and overwhelmed. Furthermore, during the Holocaust many children were separated from their parents, the innocent children who had no idea of what was happening and who did not do anything to deserve to be brutally treated, had to deal with this stress that even an adult could not completely ha ndle. The lives of these children were taken without that child not even getting the chance to experience what life really was. Selfishly, the Nazis did not want these children to live because f the ethnicity, but what they did not conceive is, these helpless children did not chose to be born Jewish they did not have the power to fight back or to defend themselves. Children were killed in the Holocaust referable to the generations of their past family members, they did not have the choice to live or die. Children, whom were victims of the Holocaust, did not choose this for themselves and had their lives stolen from them without knowing it. After the Holocaust ended, many people were devastated. Jews and many other cultures were left without food and shelter.Many of these people did not have a job and lost their family also. Many Jews never found their family members, and never got reunited with their friends from the past. Unfortunately, when many of the Jews tried to harvesting to Poland, they were murdered by mobs. Furthermore, even when the Holocaust was over, the Jews tacit suffered a hard life. Looking for new homes approximately 137,000 Jews came to the United States, which admitted almost 400,000 refugees (Holocaust Museum). Jews mostly did not return to their homes because of the hatred of Jews that was portrayed in their former community.Possibly as many as 170,000 Jewish displaced persons and refugees had immigrated to Israel by 1953 (Rosenberg). Adolf Hitler, This cruel man, who killed millions of people, was finally put to justice. Death is never the answer, and Im sure that his family and former friends were experiencing a huge loss, but during this time period the death of Adolf Hitler was the only answer that would punish him for his horrible crime. scorn what the Jews went through, they never demanded attention or compensation for what they went through.The Jews tried their hardest to return back to their normal lives, and find family mem bers that they lost during the tragic time of the Holocaust. All in all, they avoided the enticement to hate or to teach their children to hate, which takes a lot of honor to do. Throughout this whole essay, I am trying to let the reader know that the Holocaust was a very devastating time for many cultures. Furthermore, before the Holocaust, the Jews lived a normal life, just like any other human being did. Afterwards, when the Jews were secure free, it took them a really long time to return back to normal life, though their lives will never be normal gain. The Jews and their families will always have fear, and never forget the horrible things that they seen and went through. Unquestionably, this period in time showed how evil mankind can be, and what humans will do over anger and madness. The final solution was a horrible event that killed millions of innocent people and showed the world how inhuman mankind can be. The Holocaust, what is the true depth of this word? As sad as it may seem, it affected the lives of millions because of the hate and jealously inside of one certain group of people, the Nazis.Millions of innocent adults and children had their lives stolen from them over one mans anger and hatred. Many people of todays society could not imagine being treated as the Jews were treated. The Jews were treated as wild animals they were locked away and exactly fed or sheltered. Can you find a word to describe this act? Dehumanization, Man and man are supposed to work together to be their community better. Every human is just alike, we all have hair, two eyes, two arms, two legs, and a brain to think.Furthermore, we all also have emotions and feelings. Would Adolf Hitler want to be treated how he treated the Jews? No, nobody would like to be treated as if they did not belong or matter. Everyone has a purpose in this world, and everyone is born for a reason. Let the Jews that died and suffered, rest in peace and live their life the best that they possib ly can. These people who went through and experienced this unbearable time in history, are the strongest people of mankind. It took a lot of emotional and physical power to overcome that experience.The Holocaust has been over for many many years, but the wounds still scar the Jews and their families and many other groups of people too. May god let the soles of the Holocaust rest in peace, for you will never be disclaimed. As your stories disappearing into history, we will never forget the courage that it took to bare the actions that you endured during the Holocaust. This era in time will never be forgotten, and all of whom died and suffered through this horrible disaster will always be remembered, for we will never forget the courage they held, and the hurt that they endured.