Figure 3 focuses on the trend in inward and outward FDI for key emerging economies (Brazil, Chile,
China, India, Indonesia, Russian Federation and South Africa). Panel A documents FDI for these countries
with respect to the rest of the world, while Panels B and C show their FDI stocks from and to, respectively,
OECD and non-OECD countries. In all seven countries, inward and outward FDI has tended to increase
significantly between 1990 and 2005. China, mainland plus Hong Kong, is by far the most important non-
OECD country both as a source and as a recipient of FDI. In 2005, China represented more than a third of
the total inward FDI of all non-OECD countries, and more than half of outward FDI. This trend has
consolidated China as a growing source of FDI, reaching in 2006 the 4th world position in terms of stocks
and the 6th in terms of flows