INVESTMENT: A Safe Haven for Frightened Funds

Whatever the merits of the quarrels in Washington these days about the health of the American economy, there is one element of the business scene so bracing that Commerce Department officials become ecstatic when they talk about it. The flow of foreign funds into the U.S. has crested in a seemingly endless wave that is nourishing local economies from ailing New York to the striving Sunbelt states. Since 1971 total foreign direct investment has more than doubled from $13.7 billion to an estimated $30 billion in 1976. The Western Europeans, in particular,...

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