Under the influence of the economic stimulus policies of developed economies，the profits of transnational enterprises soared，and the financial activities and cross-border mergers and acquisitions within and between enterprises were active，which promoted the global international direct investment to increase by 64% year on year in 2021，returning to the level before the COVID-19 epidemic. Some of the emergency investment policies adopted due to the epidemic are also coming to an end，but the trend of tightening investment supervision continues，and the proportion of restrictive investment policies has reached a new historical high，mainly from developed economies. The outbreak of the conflict between Russia and Ukraine has cast a shadow on the international investment and global business environment. The interest rate increase policy of developed countries in response to inflation pressure will further slow down cross-border M&A activities and inhibit the growth of international project financing. Geopolitical games increase the overall cost of global economic operation，and multinational enterprises will have to find a balance between value economy and trade，supply chain security，and maintaining enterprise competitiveness.