台灣產業外移大陸在六四事件之後開始快速增加，根據非官方統計，至 1992 年台灣在大陸的直接投資總額已達美金 100 億以上。其中過半數集中於廣東與福建沿海地區。在這個現象的背後，有幾個有趣的問題值得探討。第一，在發展政治經濟學的架構之中，這些台灣投資者與其它“傳統”的跨國企業相當不同。不同之外，除了前者的規模較小之外，其生產組織也不像大型跨國公司那樣垂直整合，而且由多個獨立的生產單位組成的分工生產網絡。此外 大部份的台灣製造業者在中國大陸的投資過程中，並不像大規模的跨國企業那樣必需與北京的中央級官僚機構打交道。他們多半直接向地方鄉、市級政府申請或洽商合作計劃。這種小型投資案件彈性大且時效快，不需耗日曠時地層層上報至中央。在此過程中，鄉市鎮政府官員（包括鄉鎮集體企業負責人）成為台商在大陸投資的重要合作對象。本文將台 商在大陸的投資放在中國大陸本身地方財政權力增加，以及台資本身的特色架構中討論，並指出「新國際分工模型」中忽略資本輸入地區的地方性的問題，以及「三邊聯盟」模型中，對資本輸入地區「國家」的討論，忽略了中央與地方政府之間的權力關係的問題。

　　　　　Since after the Tienanmen Incident in 1983 there has been a dramatic growth in Taiwanese direct investment in mainland China. BY the end of 1992, Taiwanese investors have brought more than 10 billion US dollors to China, half of which have concentrated in Guangdong and Fujian provinces. Taiwanese investors in China differed from traditional Multinationals in that they are smaller in scale. In addition, Taiwanese investors are mostly inovolved in networks of production organization instead of vertically integrated. Most of all, unlike the Multinationals which mostly negotiate with the national government in the host region, Taiwanese investors in southern China have had closer relationships with local Chinese officials. This is because local Chinese officials, with their newly-gained economic autonomy, have demonstrated greater flexibility in their negotiation with Taiwanese investors and minimized bureaucratic holdups. The important role that local state has played in negotiating with foreign capital can help to expand Peter Evans' model of Triple Alliance, which sees the state of the host region as an homogenious entity and the local-global negotiation happens only at the national level.