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After eight years, Macro Polo has ceased operations as the Paulson Institute will focus its independent research on supporting its programs as it continues to diversify its scope.

We appreciate the community that has grown around Macro Polo and the fruitful engagement we’ve had with our legion of smart and sharp audience. You’ve pushed us to deliver even more original work and innovative products. Our body of work speaks for itself, and we hope it will have a long shelf life – that was the intent from MP’s inception.

MP’s website is now archived and no new work will be published henceforth on this site. Please visit www.paulsoninstitute.org for future research and policy work on a range of global issues.

Thank you all for the support over the years, it has been a privilege to have had a home at the Paulson Institute and to have built it the way we did.

- Team Macro Polo

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Foreign Direct Investment

After several years of modest increases, Chinese foreign direct investment (FDI) into the United States ballooned to a mammoth $46.5 billion in 2016, before declining dramatically to pre-2011 levels due to capital controls from Beijing and heightened regulatory scrutiny in Washington. Chinese capital has supported American growth and jobs in projects from financial centers on the East Coast and manufacturing hubs in the Midwest to high-tech and entertainment industries on the West Coast.

But this FDI also created political controversy, especially over acquisitions of sensitive technologies. All investors are sensitive to political risks and, whether considered an opportunity or a risk, Chinese FDI seems unlikely to return to its previous heights.

Chinese Direct Investment in the US
Chinese Direct Investment in the US
Chinese Direct Investment by Industry (1990-2019) (US$ Billions)
Takeaway Numbers
Takeaway Numbers
Heat Map of Chinese FDI Stock (1990-2019)