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In 1999, private flows (bank loans, bond financing, equity investment in local stock markets and direct investment by multinational companies) totaled an estimated $136 billion to these 29 countries, compared with government capital flow of $22 billion, according to the institute.
據該研究機構的統計，在1999年進入這29個國家的私人資金流量（銀行貸款、債券融資、在當地股票市場的證券投資以及跨國公司的直接投資）總額達到1，360億美元，而政府的資金流量僅為220億美元。
Meanwhile, multinational companies have gone on an international acquisition binge. In the first half of 1999 alone, the value of new cross-border mergers and acquisitions passed $500 billion in both advanced and developing countries.
與此同時，跨國公司掀起國際收購狂潮。僅在1999年上半年，在發達國家與發展中國家中所進行的跨國兼并與收購的價值就超過了5，000億美元。
The total roughly matched the amount for all 1998 ($544 billion) and was almost seven times larger than the 1991 level ($85 billion), according to the World Investment Report by the United Nations. The recent takeover struggle between British and German wireless giants-Vodafone AirTouch PLC and Mannesmann AG—is exceptional only for its size and bitterness.
據聯合國發布的世界投資報告所說，這個數值與1998年全年的總額（5，440億美元）相差無幾，幾乎是1991年（850億美元）的7倍。最近英國沃達豐AirTouch上市公司和德國曼內斯曼公司兩大無線電巨頭之間圍繞接管問題的爭斗僅在激烈程度與規模方面就前所未有。
Behind the merger boom lies the growing corporate conviction that many markets have become truly global. By trying to maximize their presence in as many nations as possible, companies seek to achieve economies of scale—that is, to lower costs through higher sales and production volumes—and to stay abreast of technological changes that can now occur almost anywhere.
兼并熱潮的背后是公司經營者愈來愈強的信念，他們相信許多市場已經真正全球化。公司通過努力在盡可能多的國家極力擴大勢力，謀求發展規模經濟一也就是說，通過擴大銷售和生產規模來降低成本——并試圖跟上如今幾乎無處不在的技術變革步伐。
