Like bargain-hungry shoppers rattling the racks at a department-store sale, foreigners are stocking up on American corporations and real estate. Last week the Commerce Department reported that overseas investors spent $65 billion on U.S. assets last year, up from $40.3 billion in 1987. The Government noted a pronounced jump in large transactions: the number of foreign investments worth more than $1 billion doubled from six to twelve.
As they have been throughout most of postwar U.S. history, the British were the largest investors last year, plunking down $21.5 billion. In second place were the Japanese ($14.2 billion), ahead of the Canadians...
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