Foreign merger or takeover might solve chronic university underfunding, he said, and produce "interesting scientific synergies" if UK and US universities joined.
But the eleventh-hour abandonment this summer of its $5.3 billion bid for Millicom, a European firm that runs wireless networks in emerging markets, showed the difficulties for a state-controlled Chinese company in pulling together a foreign merger.
They spent some $254 billion on foreign mergers and acquisitions in the first half of 2000, according to KPMG, a consulting firm.
After his military service, he worked as a senior investment banker involved in many domestic and foreign mergers and financings at Lehman Brothers, L.F. Rothschild Unterberg, Towbin, Wertheim Schroder and Burnham & Company.
The stimulus package would also establish a ¥200 billion fund at the Japan Bank for International Cooperation, another state-sponsored lender, to encourage foreign mergers and takeovers.
Recent months have seen a surge of foreign mergers and acquisitions.But while hiring trends may have started to reflect this shift, corporate culture has not.
The scope for underwriting, trading and advising on domestic and foreign mergers is growing: analysts at Merrill Lynch think investment banking, trading and advisory fees from mainland China will reach $12 billion by 2010.
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Formally enacted by the National People's Congress last year, the measure gives Chinese regulators authority to examine foreign mergers when they involve acquisitions of Chinese companies or foreign businesses investing in Chinese companies' operations.
New York's top firms, most of them small and hugely profitable, are evidently happier continuing to exploit the world's biggest and richest legal market on their own.But lesser-known firms, particularly in America, are increasingly exploring the possibility of foreign mergers in order to establish global reach.
South America and Europe were the main target regions, with the resources and energy sectors accounting for 92 percent of all foreign mergers and acquisitions by Chinese companies in the quarter, according to a survey published by A Capital, a private equity fund with offices in Shanghai, Beijing and Paris.
