Global Engagement : How American Companies Really Compete in the Global Economy

by Quinlan, Joseph P.

• ISBN13: 9780809226702
• ISBN10: 0809226707
• Format: Hardcover
• Copyright: 2000-09-01
• Publisher: McGraw-Hill

Summary

Discusses American trade policies and exports, explaining the reason for the American trade deficit, opining that it is due to a lack of understanding of the complicated world of global competition. DLC: Investments--American.

Author Biography

Joseph P. Quinlan is a senior global economist with Morgan Stanley Dean Witter in New York. He also lectures on global trade and finance at New York University.

Table of Contents

Acknowledgments	ix
Introduction	xi
Key Terms and Definitions	xvii
Part I: Setting the Global Stage	1	(74)
The Global Economy at the Dawn of a New Century	5	(16)
The Beat Goes On	7	(2)
The Global Economy: The Long View	9	(4)
Globalization Part II: Forces of Change	13	(4)
The United States and the Illusion of Being an Island	17	(4)
Why Firms Invest Abroad: Understanding the Dynamics of Foreign Direct Investment	21	(24)
What Motivates Firms to Invest Overseas?	22	(5)
Some Theories on Foreign Investment	27	(6)
The Urge to Merge	33	(4)
My Enemy's Enemy Is My Friend: The Rise of Alliance Capitalism	37	(4)
Foreign Direct Investment and Trade: The Interlinkages	41	(4)
Beyond Trade: Transnationals and Global Foreign Direct Investment Trends	45	(30)
The Making of a Transnational	46	(2)
The Transnational Profile	48	(2)
The Global Boom in Foreign Direct Investment	50	(1)
Sources of Global FDI Outflows	51	(1)
Japan Goes Global	52	(1)
Europe Steps Up	53	(2)
New and Emerging Transnationals	55	(4)
Global FDI Inflows: A Larger Claim for the Developing Nations . . . Even in Times of Crisis	59	(4)
Asia: Transnationals Make the Most of the Crisis Latin America: A Refurbished Image Equals More Capital Inflows	63	(4)
Central Europe and Russia: In from the Cold	67	(1)
Africa: Lots of Potential but Still on the Margin	68	(2)
The Chosen Few: Investment Flows to the Developing Nations	70	(3)
The Sectoral Shift in Global Foreign Direct Investment	73	(2)
Part II: U.S. Global Engagement Through Foreign Direct Investment	75	(82)
Global Linkages Through U.S. Foreign Direct Investment	79	(24)
Global Linkages: Trade Tells Just One Part of the Story	80	(2)
Asian Aftershocks	82	(2)
Global Linkages Part II: Foreign Investment and the Ties That Really Bind	84	(1)
U.S. Foreign Direct Investment: A Historical Perspective	85	(1)
The 1950--1979 Cycle: Europe Beckons	86	(4)
The Investment Boom Goes Bust in the Early 1980s	90	(2)
The Booming 1990s	92	(2)
The NAFTA Surprise	94	(2)
In Asia, Smaller Is Better	96	(2)
In-Country Sales of Affiliates: The Best Measure of Global Engagement	98	(3)
Revisiting the Asian Crisis	101	(2)
On the Front Lines: The Strategic Role of U.S. Foreign Affiliates	103	(26)
Affiliates: Neither Outliers nor Outlaws	104	(1)
When Parents Become Affiliates	105	(1)
U.S. Foreign Affiliates: A Lot Like California	106	(1)
Dissecting the Functions of U.S. Foreign Affiliates	107	(8)
The Bottom Line: So, Where Do Global Profits Come From?	115	(3)
The Different Modes of Foreign Direct Investment	118	(2)
The Strategic Mandate of Affiliates: It All Depends	120	(5)
The Big Picture: Perspectives on U.S. Parents	125	(4)
Who Are Us? Foreign Investment and Foreign Affiliates in the United States	129	(28)
1950--1975: Asymmetrical Investment Flows	130	(1)
The Mid-'70s and the Beginning of Something Big	131	(1)
The Pendulum Swings in the 1980s	132	(3)
Japan: Better Late than Never	135	(2)
``The Selling of America'': The Backlash Comes but Quickly Goes	137	(1)
Inflows in the 1990s: Weak Start, Robust Finish	138	(1)
The ``Old World'' Invasion	139	(3)
The Foreign Direct Position in the United States as a New Century Dawns	142	(4)
Affiliate Activities in the United States	146	(3)
The Outsized Impact on U.S. Trade	149	(2)
Beyond Imports: The Sales of Foreign Affiliates in the United States	151	(3)
America: Some Implications as Host to the World	154	(3)
Part III: Unique Dimensions of U.S. Global Engagement	157	(78)
Japan: Always the Exception	161	(26)
U.S.-Japan Foreign Direct Investment Linkages: The Long View	163	(2)
Bilateral Investment Flows from 1950 to 1979---Advantage: The United States	165	(3)
Bilateral Investment Flows in the 1980s--Advantage: Japan	168	(3)
Profiling Japan's Investment Advantage	171	(2)
Japan's Stranglehold on U.S. Trade	173	(4)
The ``Lost Decade'': Reality Overcomes Resistance	177	(3)
``Open the Market and They Will Come''	180	(4)
Toward a Level Playing Field	184	(3)
Services: The New Dynamic of U.S. Global Engagement	187	(18)
The Globalization of Services	188	(2)
Technology and the ``Death of Distance''	190	(2)
U.S. Trade in Global Services	192	(4)
U.S. Foreign Direct Investment in Global Services	196	(4)
The Service Activities of Global U.S. Manufacturers	200	(3)
Sales of U.S. Foreign Affiliates: The Preferred Mode for Delivery of Services	203	(2)
Unfinished Business: U.S. Global Engagement with the Developing Nations	205	(30)
The ``Triad'' Plus One	207	(3)
Some Perspectives on U.S. Foreign Investment in the Developing Nations	210	(5)
Top 10 Destinations Among the Developing Nations	215	(9)
Meeting the Microchallenges	224	(4)
Regional Spheres of Influence	228	(3)
Trade Versus Investment: Taking Stock of U.S. Global Engagement with the Developing Nations	231	(4)
Epilogue	235	(4)
Notes	239	(14)
Bibliography	253	(8)
Index	261