JAPANESE FOREIGN DIRECT INVESTMENT TO AUSTRALIA A Essays

JAPANESE FOREIGN DIRECT INVESTMENT TO AUSTRALIA: AN ASSESSMENT OF CURRENT PERFORMANCE, CAUSES, AND PROSPECTS Khondaker M. Rahman Professor in Business Administration Graduate School of Business Administration Nanzan University, Nagoya, Japan and Visiting Professor School of Commerce and Marketing FABIE, CQ University Australia Bldg. 19, Level 2, Bruce Highway North Rockhampton, QLD 4702, Australia Phone: +61 7 4923 2695 e-mail: [emailprotected] Sheikh F. Rahman Professor of Accounting School of Commerce and Marketing FABIE, CQ University Australia 108 Lonsdale Street, Level 7 Melbourne, VIC 3000 Australia Phone: +61 3 8662 0810 e-mail: [emailprotected] Mohamed O. Elsayed Lecturer in Accounting School of Commerce and Marketing FABIE, CQ University Australia Bldg. 34, Level 1, Bruce Highway North Rockhampton, QLD 4702, Australia Phone: +61 7 4930 9893 e-mail: [emailprotected] JAPANESE FOREIGN DIRECT INVESTMENT TO AUSTRALIA: AN ASSESSMENT OF CURRENT PERFORMANCE, CAUSES, AND PROSPECTS ABSTRACT This paper examines Japanese foreign direct investment (FDI) in Australia in its historical continuity and change and postulates on the underlying factors. For research methods, it resorts to archival sources and qualitative induction and deduction logic. Findings suggests that there are four driving forces, namely, severe scarcity of manufacturing inputs, high cost of labour, accumulation of surplus funds for investment abroad, and firm-specific and internally created management resources in Japan have propelled its FDI to Australia. In addition to these imperatives in Japan, Australia's three sets of national advantages, namely, the advantage or resource endowments, created and nurtured advantage of an affluent domestic market, and the advantage from its historical role in promoting globalization, have attracted Japanese FDI. Especially, these national favourable conditions have enticed the market and resource-seeking Japanese multinational corporations (MNCs) to select Australia for direct investment and other business operations. Japan's trade frictions with the USA and other developed countries, instability in its resource procurement sources, and imperfections in its domestic labour and capital markets further drove its MNCs to invest in Australia. Australia, on the other hand, embraced Japanese FDI and MNCs since these were stable in nature and promising for a continued business and economic engagement. Australia also finds Japan as a partner for promoting and harvesting additional benefits from business and economic globalisation in the Asia-Pacific region, where Japan plays a significant role. Both countries' strengths, weaknesses, and national interest work centripetally and centrifugally to benefit from their mutual engagement and advantage. Keywords: ASEAN, Asia-Pacific, Australia, Australia-Japan FDI, comparative advantage, driving forces, global competitiveness, Japan, Japanese outward FDI, MNCs, Oceania, regional trade and investment blocs. 1. INTRODUCTION Japan's aggregate annual outward FDI flow to Australia has increased from barely US$1 million in 1965 to US$468 million in 1985, to US$1.854 billion in 2004 (JETRO 2008). Its FDI stock in Australia has also increased constantly from US$6.881 billion in 2001 to US$19.107 billion in 2008. Australia alone receives about 6.0 per cent of Japan's outward FDI, and is increasingly consolidating its position as a major receiver of Japanese FDI and MNCs, which has heightened interest among researchers (Anderson 1998, Bayari 2004, CEDA 1997, De Silva 2006, Ishii 2000, Kumarashinge Hoshino 2009, Tanno 2005, Tsumori 2001). This paper examines Japanese FDI to Australia in its historical continuity and change, and postulates the factors that have caused such movement of FDI to this country. The paper resorts to archival data sources and qualitative induction and logical deduction to conduct the research. As a prelude to investigate various factors that induce FDI, it examines various FDI theories, and develops a logical basis of analysis and explanation. The paper proceeds as follows: First, it makes an investigation into the flow of FDI from Japan to Australia from bilateral as well as global perspectives. Then, with a brief overview of the major theoretical arguments of FDI by MNCs and nations, it examines the competitive advantages available in these two countries that initiated, proliferated, and sustained their FDI businesses. Finally, summarising the research findings, it concludes that Japanese FDI to Australia will further flourish due to both nations' historical reliance on mutual advantages and/or endowments. 2. WORLD'S OUTWARD FOREIGN DIRECT INVESTMENT AND JAPAN World Investment Report (UNCTAD, 2009) shows that world's aggregate outward FDI has increased and reached a record high level of US$1.997 trillion (at current prices and current exchange rates) in 2007 (see Table 1). It was in the range of US$632-US$735 billion during the first four years of the current millennium (Khondaker, 2006), but rebounded and amounted to US$881 billion in 2005 and US$ 1.323 trillion in 2006 (UNCTAD, 2008). Major suppliers of FDI included the USA, UK, Canada, Austria, Belgium and Luxembourg, Denmark, Finland, France, Germany, Italy, Netherlands, Norway, Portugal,

9 Famous Types of Editing That Every Author Should Know

9 Famous Types of Editing That Every Author Should Know 9 Types of Editing: A Guide for Authors For any writer, the world of professional editing can be very intimidating - especially when trying to figure out what kinds of editors you need and how to find good ones for your project. Indeed, there are so many types of editing out there, it’s enough to make anyone’s head spin!But this process doesn’t have to be so overwhelming. In this guide, we’ll take you through all the different types of editing, what each one entails, and how they relate to one another. Plus we’ll provide insight from our own expert editors on what these types can do for you as a writer! Ready to get started? 9 types of editing how to apply them to your manuscript  Ã°Å¸â€œ  What are the 9 types of editing?1. Developmental editingDevelopmental editing, also called content or substantive editing, involves an editor providing detailed feedback on â€Å"big-picture† issues. They’ll refine your ideas, shape your narrative, and help you fix any major plot or character inconsistencies. Basically, they’ll look at just about every element of your story and tell you what works and what doesn’t.â€Å"For a developmental edit, I look at some of the larger questions,† says editor Mary-Theresa Hussey. â€Å"Why are the characters behaving as they do? What are their motivations? Do these scenes add to the overall story? What is your underlying theme and how does it change?†As we said, this is typically the first step in the editing process. After all, you don’t want to get your manuscript proofed or formatted if you haven’t even fleshed out the plot yet! A developmental editor will make sure your story’s u p to snuff before moving forward, so you don’t end up copy-correcting work that’s just going to get thrown out anyway.What do you get out of a developmental edit?There are two pieces here that your editor should provide: an editorial report and an annotated manuscript.The editorial report is a general critique of everything your developmental editor thinks you should change, along with commentary on what’s functioning well and should stay in your work. Meanwhile, the annotated manuscript is a marked-up version of the manuscript itself, with specific suggestions as to how you can fix each issue. You might think of the annotated manuscript as the editor’s raw feedback and the editorial report as a summary of that feedback.2. Editorial assessmentOn the other hand, if your manuscript isn’t quite ready yet for a developmental edit, but you still want to get some feedback on it, you can always call for an editorial assessment.â€Å"In an editorial asses sment, the author wouldn’t receive comments and example rewrites in the manuscript,† says genre fiction editor Leah Brown. â€Å"Instead, they would receive a letter that focuses on the broad strokes. An editorial assessment is best for an author who is early in the process and whose manuscript may be messier.†So an editorial assessment is similar to an editorial report, but with less detail. It should give you some concrete ideas about how to construct your story. However, it won’t have the nuance of a full developmental edit, so don’t rely on an assessment alone to perfect your manuscript.3. Structural editing Make sure that structure's solid before you build on it! (Image: Michael Eggerl on Unsplash)4. Copy editingOnce you’re certain that you’ve solved the big-picture issues of your book and done any necessary rewrites, it’s time to dive into copy editing! This type is also known as mechanical and sometimes line editing, depending on its particular application.â€Å"A copy editor’s job is to bring the author’s completed manuscript to a more professional level,† says editor Chersti Nieveen. â€Å"A copy edit helps create the most readable version of your book, improving clarity, coherency, consistency, and correctness. The goal is to bridge any remaining gaps between the author’s intent and the reader’s understanding.†What elements do copy editors consider?A copy editor examines and corrects the following elements in your work:SpellingGrammarCapitalizationWord usage and repetitionDialogue tagsUsage of numbers or numeralsPOV/ten se (to fix any unintentional shifts)Descriptive inconsistencies (character descriptions, locations, blocking, etc.)Essentially, while a developmental editor will address overarching issues with your story, the copy editor looks at more minute details. After all, it’d be pretty distracting to your reader if you constantly misuse dialogue tags or misspell the word â€Å"restaurant.† Copy editing ensures that errors like these don’t happen, so your writing is as strong as possible, and your reader remains 100% focused on the story.5. Line editingPeople often use this term synonymously with copy editing, but they’re not exactly the same. To clarify: line editing focuses specifically on the content and flow of your prose. It’s also called stylistic editing, since it concentrates on style rather than mechanics.In other words, it still falls under the umbrella of copy editing, but it’s more precise. While a full copy edit looks at all of the elemen ts listed in the bullets above, a line edit would only take word usage, POV/tense, and descriptive inconsistencies into account, and provide more detailed suggestions as to how to strengthen the prose itself.Obviously, spelling, grammar, and other mechanical elements are critical, but a line edit would not attend to these so much as to creative content. If you feel incredibly confident about the mechanics of your prose but less so about its flow and style, you might request that your copy editor focus their energy on line editing alone. After all, a proofreader can always catch any minor errors that slip through the cracks. Copy vs. line editing: what's the difference? Find out here! 🔎 And speaking of proofreaders...6. Proofreading 9 Types of Editing: A Guide for Authors Read post There are plenty of ways to self-edit or  build a team of insightful beta readers who can provide you with an outside perspective. But if you intend to become a successful author (whatever that means to you), there’s no replacement for professional assistance and correct procedure when it comes to editing. With this in mind, you’re ready to go forth and conquer - the world of editing, that is!Have you ever had a professional edit done on your work? If so, tell us about it in the comments below!