Munculnya dan evolusi perusahaan multinasional dari Hongkong dan Singapura * The emergence and evolution of multinational corporations from Hong Kong
Introduction
Although the origins of Hong Kong-based MNCs can be traced(ditelusuri) to the British colonial period and Hong Kong’s position as an entrepôt(gudang) for trade in South East Asia and China, indigenous (adat) Chinese firms(perusahaan) based in Hong Kong emerged(munculnya) as MNCs in the early 1950s, thus reflecting(mencerminkan) a longer history by comparison to MNCs from Taiwan and South Korea whose emergence(muncul) can be traced(ditelusuri) to the early 1960s. Hong Kong has grown to become a significant home country(negara asal) of FDI(foreign direct investment) with an outward FDI stock of ,$154.9 billion in 1998, or some 3.8 per cent of the global stock of outward FDI. Indeed, it had become the world’s tenth-largest source of FDI in that year based on the size of outward FDI stock after the
United States (with a share of 24.1 per cent of the global stock of outward FDI), United
Kingdom (12.1 per cent), Germany (9.5 per cent), Japan (7.2 per cent), the Netherlands
(6.4 per cent), France (5.9 per cent), Switzerland (4.3 per cent), Italy (4.1 per cent) and
Canada (3.8 per cent). In fact, Hong Kong is almost as important as Canada whose outward FDI stock was $156.6 billion in that year. Thus, Hong Kong had become a significant source of FDI in the world economy, particularly more so in relation to the stock of outward FDI from developing countries where Hong Kong is the single largest home country with a share of almost 40 per cent.

Not only is Hong Kong comparable to Switzerland as a home country of FDI in terms of the size of outward FDI stock, the study of the emergence and evolution of Hong
Kong-based MNCs is of interest as another case study of MNCs from a resource-scarce