China’s manufacturing investments, however, are often located in industrial parks or special economic zones (SEZs). Such arrangements protect the investor from an unstable business environment, but they can also cut investors off from indigenous businesses; and when SEZs offer investors special tax breaks, the country is deprived of potential revenues.
这种溢出效应要求投资者紧密融入地方经济。然而，中国制造业的投资通常位于工业园区或特殊经济区（特区）。这种安排可以让投资者远离不稳定的商业环境，但同时也切断了投资者与本地企业的联系；并且当经济特区为投资者提供特殊的税收优惠时，国家也损失了潜在的收入。