Jsou zahraniční investoři stále vítáni?

Celosvětové toky přímých zahraničních investic (PZI) v posledních dvou dekádách prudce vzrostly, ze 40 miliard USD na počátku 80. let na 900 miliard USD loni. Úhrnný objem PZI se přiblížil 10 bilionům USD, čímž se staly nejvýznamnějším mechanismem dodávání zboží a služeb na zahraniční trhy: tržby zahraničních poboček dosahují celkem zhruba 19 bilionů, oproti celosvětovým exportům ve výši 11 bilionů. Zároveň se liberalizace režimů PZI prakticky všemi státy stala hnací silou vnitropodnikového obchodu – mízy vznikajícího systému integrované mezinárodní produkce a už dnes asi třetiny světového obchodu. Blíží se ale tyto dobré časy ke svému konci?

PZI mohou mít řadu přínosů, ale mohou také něco stát. V 70. letech, kdy uskutečňování takových investic ze strany nadnárodních korporací upoutalo pozornost veřejnosti, byly mnohé vlády přesvědčeny, že cena PZI přesahuje jejich přínosy, a proto je držely pod kontrolou. Vedeno vyspělými zeměmi, kyvadlo začalo obracet směr v 80. letech. Ač kdysi považovány za součást problému, PZI se staly součástí řešení hospodářského růstu a rozvoje.

Nic to nedokladuje lépe než změny v národních režimech PZI. Jak zaznamenává Konference Organizace spojených národů o obchodu a rozvoji, z 2156 změn, jež byly provedeny v letech 1991 až 2004, bylo 93% namířeno k vytvoření prostředí příznivějšího pro nadnárodní korporace. Existuje ovšem reálné nebezpečí, že se kyvadlo začíná obracet zpět, což by vedlo ke zpětnému chodu liberalizačního procesu.

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