[size=1.3em]"GOING OUT" is the name China calls its strategy to increase outward foreign direct investment (ODI—ie, not the FDI coming in), first proposed in 1999 and implemented in earnest five years later. From 2004 to 2011, China's ODI grew from $5.5 billion to over $65 billion a year, and it is expected to reach $150 billion by 2015. This represents a fast-growing chunk of the world's ODI outflows, which totalled $1.7 trillion last year. Research on ODI in recent years by Barclays, a British bank, sheds light on where this investment goes, and how China's ODI profile differs from the rest of the world. Overall three-fifths of world ODI goes into services, but whereas developed countries put most of the rest into overseas manufacturing ventures, developing countries invest even more in services and are more likely to keep their manufacturing investments onshore, where wages are lower. In China's case, the disparity is even greater, with just 5% going to manufacturing and a much larger share dedicated to extracting the natural resources needed to drive its booming economy. Perhaps they should add "pulling out" as one of their strategies.