Abstract
Jl orth American business is no longer domeseconomy only one-tenth that of the United tic. By 1978, foreigners had bought United States, has attracted more foreign investment States properties with sales in excess of $150 than even the United States hasthat is, billion-an amount equivalent to 7% of the nearly $50 billion Canadian dollars’ worth U. S. gross national product. In less than 25 compared with $40 billion U.S. dollars’ years (1958-1981), the percent of gross naworth. Thus neither Canada nor the United tional product (GNP) exported per year has States can enjoy the luxury of pretending more than doubled (4.0% to 8.1%). United that the rest of the world does not exist. InStates, foreign direct investment abroad has ternational business has perforce become continued to grow at 10% per year on a base a major component of their business of $164 billion dollars. Canada, with an operations.
Published Version
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