Business: Now It Is Yankee, Don't Go!

Europe's new worry is that U.S. firms are cutting back

"Fifteen years from now, it is quite possible that the third industrial power just after the United States and Russia will not be Europe but American industry in Europe."

When he made that famous forecast in The American Challenge a decade ago, the French publisher and pop economist Jean-Jacques Servan-Schreiber voiced a familiar European fear: that U.S. industry, armed with a strong dollar and high technological and marketing prowess, was rapidly turning Western Europe into a sort of American commercial romper room. So much...

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