The Commerce Department last week reported that U.S. business is fast becoming history's most prolific foreign investor. In 1956 U.S. private investments abroad jumped by a record $3.9 billion to $33 billion, three times more than the total investment in the domestic steel industry. American companies directly invested $2.8 billion in their foreign subsidiaries, a full $1.1 billion more than in 1955. Half of it went into the oil business, which also accounts for the biggest part of total U.S. investment abroad ($7.2 billion), but manufacturing investments rose by $739 million, while mining and public utilities also made big...
To continue reading:
or
Log-In
