NOT long ago China had almost no investments abroad. Today Chinese companies are big foreign investors, particularly in developing countries in Africa, South America and Asia. How do they do it?
One factor is that China now has a lot of cash and is happy to pay top dollar, particularly for resource investments. Another is that Chinese officials and business people do business in the way that they do it at home: they pay bribes. In fact, evidence suggests they behave even more corruptly abroad.