Dunning’s Globalisation (OLI) Model is the best known model of firm globalisation. It extends the cost-advantage perspective to include ownership, locational, and internationalisation advantages as determinants of a multinational corporations’ operation and growth. Using Haier as an exemplary firm, the chapter traces its revival from a non-performing SOE from China to becoming the top brand in home appliances as well as the OLI advantages it can leverage in the unique China context. The chapter also examines the National Development Globalisation Model, a model arising from China’s strong needs for energy and metals to fuel the country’s development and consumption, to address the globalisation of non-manufacturing firms. Using Chalco as an example, the chapter notes that, in spite of the firm’s lack of advantages, its ability to attract unwavering support from the government and its strong leadership to operate in the volatile global environment allow the firm to become the leading aluminium producer.

This chapter discusses several emerging globalisation models: the Springboard Model; its variant, the Leapfrog Model; the Mixed Model, a hybrid globalisation approach that leverages the combined benefits of administrative and market systems; and the Effectual Model, an appropriate for entrepreneurial firms. The discussion delineates the advantages and challenges of each model as well as the motivations for firms to adopt these models. Similar to , this chapter also traces the development of various exemplary firms (and their respective industries) that have successfully adopted these models. They include: China Merchants Bank (Springboard Model), Huawei (Leapfrog Model), CRRC (high-speed rail) (Mixed Model), and Techno (Effectual Model).

This chapter provides an overview of the contents and organisation of the book. It begins by tracing China’s economic reform that took place forty years ago as well as its ensuing economic growth and success that gave rise to modern Chinese firms. As firms such as Lenovo, Alibaba, Citic, and Tencent prosper in this socio-economic environment and gain prominence in the corporate world, researchers are beginning to recognise the contributions of emerging market multinational corporations. The chapter then discusses exemplary Chinese firms as game changers in international business. The chapter ends by outlining the organisation of the book, including the details on the four sections, and its targeted audience.

Twenty-five years after Chinese firms began their globalisation process, some of them have become global game changers and represented in the Fortune Global 500. This chapter begins by discussing the nature, types, and extent of changes these firms have brought about. Then, the chapter points out the growing challenges, including the challenges posed by Chinese firms’ overseas operations and merger and acquisition activities that would affect the perceptions of these firms in the international market. The third part of the chapter takes a futuristic lens and proposes how ‘Chinese firms going global’ will evolve, including a discussion on the extent the world accepts globalising Chinese firms and the impact world acceptance may pose on these firms’ future and growth.

As an economic power, China has become increasingly preoccupied with its image around the world. According to BBC-GlobeScan, China enjoys a neutral to positive national image over the past 12 years, driven by the generally positive perception of the country’s economy. Interestingly, there is a strong divide between perception by developed and developing nations, with the former giving China a much lower rating than the latter. The USA in particular gives a consistently low rating, while sub-Saharan African countries give a consistently high rating. The chapter then reports two ad campaigns carried out by the Chinese government to promote the national image, especially in the USA. Results of public surveys show that, while there is some positive outcome, the public do not like the hard-sell approach. It is suggested that, in the future, national image campaigns should take a softer approach and be carried out by non-governmental organisations or private firms to reduce governmental involvement.

In this chapter, we turn to economic growth, meaning the long-run development of the economy over time. Previously, we have focused on the level of economic activity during a given period of time and on how that level is affected by changes in policies and other factors along with the price level, employment, and unemployment. Now we study how that level moves over long periods of time. Another way of saying this is that we are interested in the trend growth rate of economic activity.