KEPENTINGAN PELABURAN LANGSUNG LUAR NEGARA DALAM MODEL CHINA DAN IMPAKNYA TERHADAP KUASA LUNAK CHINA.

The experience of China's economic development after the implementation of reform and opening-up program in December 1978 has led to stunning economic growth in the history of China's development. Among the emphasis on the economic reform are the openness of industry and the growth of exports by allowing market forces, yet still under strict control by the state. Since then, the term China Model has emerged in explaining its economic development process. The rise of China as the world's new economic hegemonic power can be seen through Outward Direct Investments (ODI) strategy as a platform that integrates China into the international economy. Therefore, the objective of this study is to analyze the key elements of the China Model that drives its economic development; and to discuss the importance of ODI in the China Model based on previous studies. This study was conducted by applying qualitative methods. The results of this study found that the China Model is an important strategy in the development of China's economy, while ODI is not only one of the dominant factors in the development of China Model but also an important instrument in China's soft power strategy. Based on the findings, we conclude that this study highlights the importance of the China Model that brings a miracle to China's economic development and contributes to the corpus of knowledge on the importance of China's experience in development that can serve as a guide for other developing countries to plan their development strategies. [ABSTRACT FROM AUTHOR]