Global Foreign Direct Investment Notes-China:
Many of our clients are establishing operations in Asia. You may be interested in the remarks by Naoyuki Shinohara, International Monetary Fund Deputy Managing Director. He supports the conclusions by Chris Devonshire-Ellis regarding targeted growth opportunities in China. On March 27, 2012 he concluded:
1. Prospects for the global recovery have improved, but downside risks still loom large
2. Growth in Asia is set to gain momentum, but exposure to outside risks are significant
3. Key near-term challenges is to calibrate the insurance still needed to support stable, non-inflationary growth
4. Greater regional integration can support economic rebalancing and make Asia more resilient to external shocks
Director Shinohara’s full text comments can be found at: http://www.imf.org/external/np/speeches/2012/032712.htm
Global Foreign Direct Investment Notes-Cuba:
Cuba is known for medical services. There is a concentrated effort by the Cuban government to establish Cuba as a leader in medical services. This effort has resulted in medical services surpassing tourism as the largest foreign exchange activity1. Two areas medical tourism and exporting medical professionals are worth mentioning.
Medical tourism has increased in Cuba attracting foreign patients who are treated in hospitals and clinics that are part of Cuba’s National Health System. As reported by A. Gabriele in Economics, Management & Financial Services (2010) 1, rehabilitation therapies for drugs and alcohol addicts, treatment of pigment rethinosis, vitiligo, psoriasis, alopecia (hair loss); surgical and clinical programs, including esthetical surgery and, neurological restoration; health checks and check-ups are among Cuba’s specialty treatments.
Cuba has a vigorous program to export medical knowledge workers. It is estimated that over 100,000 Cuban health workers have worked outside of Cuba for extended assignments since the early 1960’s.1 A loosening of trade and travel restrictions may result in these workers remaining outside of Cuba, creating a financial and service “brain drain”.
1. GABRIELE, A. (2010). CUBA: THE SURGE OF EXPORT-ORIENTED SERVICES. Economics, Management & Financial Markets, 5(4), 151-175.