U.S. Domestic Economy & Foreign Companies

* What is the impact of foreign companies settling in the U. S. on the domestic economy?

* On the future of American economic development?

This paper will attempt to review these issues, relying upon a combination of statistical data, anecdotal evidence, and speculative forecasts currently being presented in the American print media. Telecommunications media (primarily television), except where referenced in print media, will be removed from the forum of discussion; it is noted that both the George Bush Japan trip and the Bill Clinton foreigner-tax proposals were made primarily for presentation by the television media. Presentations of that sort are essentially symbolic in nature, stripped to the bare bones of argument, and rarely contribute to an objective understanding of the issues involved. Print journalists may have eagerly echoed the television media in facilitating those presentations - but in both cases cited (and numerous others), it has usually been the (relatively) more reasoned approach and follow-up of the print media that has exposed the factual weaknesses underpinning the symbols.

But, addressing specifically now the issue of foreign companies settling in the United States, realpolitik symbols such as those mentioned previously must be taken into account since they so obviously reflect the impact of such an act on public sentiment. It cannot be ignored that Patrick Buchanan

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ability. And demand. Among the former Eastern Bloc countries, for instance, the identification tags "U. S." and "American" are practically de rigueur endorsements for an imported consumer product. Within this context, ignored by politicians decrying the sick state of American exports (not so) and poor U. S. productivity (false), American export industries engage in a number of joint-venture enterprises with foreign companies: the age of economic imperialism is over, at least as a visible entity, and no foreign company, anywhere, reasonably expects to set up "satellite" industries divorced from the local economy, work force and political environment. In return, foreign companies in joint venture with American companies, many of them export-oriented, must be expected in return to have a presence here. Is such a transition always smooth? No. Do cultural differences interfere? Often. Then again, domestic firms relocating from the Northeast to the South often complain of "culture shock" - the combined effects of climate, geography and lifestyle differences having created mini-countries within the nation itself. By the same token, it can reasonably be said that America has always maintained a high level of foreign business pr

Category: Economics - U