To serve foreign markets, firms can either export or set up a local subsidiary through horizontal Foreign Direct Investment (FDI). The conventional proximity-concentration theory suggests that FDI substitutes for trade if distance between countries is large, while exports become more important...

To serve foreign markets, firms can either export or set up a local subsidiary through horizontal Foreign Direct Investment (FDI). The conventional proximity-concentration theory suggests that FDI substitutes for trade if distance between countries is large, while exports become more important...

The "selling" of the American economy -- The invisible worker -- Foreign capital -- Not in my backyard -- Not in Washington's backyard, either -- Foreign owners, American management -- The welcome mat -- The race between the states -- View from the top -- The new face of the American economy