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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.
据该研究机构的统计，在1999年进入这29个国家的私人资金流量（银行贷款、债券融资、在当地股票市场的证券投资以及跨国公司的直接投资）总额达到1，360亿美元，而政府的资金流量仅为220亿美元。
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.
与此同时，跨国公司掀起国际收购狂潮。仅在1999年上半年，在发达国家与发展中国家中所进行的跨国兼并与收购的价值就超过了5，000亿美元。
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.
据联合国发布的世界投资报告所说，这个数值与1998年全年的总额（5，440亿美元）相差无几，几乎是1991年（850亿美元）的7倍。最近英国沃达丰AirTouch上市公司和德国曼内斯曼公司两大无线电巨头之间围绕接管问题的争斗仅在激烈程度与规模方面就前所未有。
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.
兼并热潮的背后是公司经营者愈来愈强的信念，他们相信许多市场已经真正全球化。公司通过努力在尽可能多的国家极力扩大势力，谋求发展规模经济一也就是说，通过扩大销售和生产规模来降低成本——并试图跟上如今几乎无处不在的技术变革步伐。
