Titelaufnahme

Recently public concerns have been raised about the impact of emerging market multinationals. The expansion of China’s multinationals into Europe and the Belt and Road Initiative have been greeted positively in some quarters, but have also led to increasing awareness of the potential long term implications. This paper addresses opportunities and concerns relating to these developments. While there is already a lot of literature on foreign direct investment in emerging economies and emerging multinationals per se, this paper focuses on the neglected issue of (potential) impact of the expansion of emerging market multinationals into Europe. By including long-term and interdisciplinary insights, it opens up a fresh perspective on a highly controversial issue. Starting with a call for a new theoretical understanding which is based on a multilevel (economic) view, incorporates politics and power, and take questions of sustainability seriously, the paper introduces key ideas and findings. It then goes on to summarize discussions with experts and decision-makers on the challenges described above and the effects on headquarter location policies, with a special focus on Vienna. Finally, this becomes the basis for a presentation of the implications for a smart location policy.