Experience has shown that encouraging foreign direct investment by MNEs in developing economies has been less effective than government-funded aid programs in efforts to reduce global poverty.

Question

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In what the World Bank calls "the greatest poverty reduction program in human history," hundreds of millions of people in China have moved out of poverty since the late 1970s.In large part,this transformation has been due to the cumulative investment of $1,765 billion in 864,304 foreign investment projects approved in the 35 years following the announcement of China's open-door policy in 1979.

Experience Has Shown That Encouraging Foreign Direct Investment by MNEs