Abstract
The commercial contacts of foreign governments and their agencies with the American economy are steadily growing in number and importance. In addition to the numerous foreign government-owned airlines and shipping concerns doing business in the United States, foreign government ownership of, or participation in, industrial, banking, and trading corporations doing business here is substantial. Furthermore, in more and more instances U.S. petroleum and other imports are purchased from foreign governmental entities whose contacts with the United States will probably become more extensive. Foreign governments, directly or through purchasing entities, are making huge annual purchases of American agricultural exports. The U.S. capital market continues to handle substantial volumes of borrowing by foreign governments and their instrumentalities.
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