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ID-78-2 1 (1978-01-17)

handle is hein.gao/gaobaawlu0001 and id is 1 raw text is: DOCUMENT RESUME 04615 - [BO1850O0 Domestic Policy Issues Stemming from U.S. Direct Investment Abroad. ID-78-2; B-172255. January 17& 1978. 72 pp. + 2 appendices (9 pp.). Report to Sen. Daniel K. Inouye, Chairwan, Senate Committee on Commerce, Science, and Txansportation: Merchant Marine and Tourism Subcommittee; by Elmer B. Staats, Comptroller General. Issue Area: International Economic and Military Programs: Direct Investment Capital Flows (606). Contact: International Div. Budget functiong International Affairs: International Financial Prcgrams 4155). Org&nization Coucerned: Department of Commerce; repartment of State; Depa:tment cf Labor. Congressional Relevance: Senate Committee on Commerce, Science, and Transportation: Merchant marine and Tourism Sutcommittee. Authority: International Investment Survey Act of 1976 (P.L. 94-472). Bretton Woods Agreements Act (22 U.S.C. 286). Executive Order 11961. Executive Order 1003. Despite the public attention directed at U.S. multinational corporations and their investments abroad, confusion continues to erist about the effects of such investment on the U.S. economy and security. The impact of foreign direct investment has centered arount the question of whether foreign investment displaces or enhances U.S. exports. Recent discussion has focused on: technology flows through investment abroad and their impact on US. tr'de copetitiveaess, host-country demands and ince~cives that could contritute to reduced UoS. exports, and joint L.S.-foreign 7entures and their impact on rade and competiticn. Findings/Conclusions: Public concern has been expressed b.bout the number of jobs foreign investment either creates or destroys. Available studies have been unable to agree on this issue, but analysts tend to agree that what uculd have happened in the absen:e of foreign investment is important in determining the job loss and/or gain from foreign investment. By extending its Ju~isdiction over domestic business investment abroad in order to protect its interests, the United States has taken actions which have caused and may continue to cause conflicts with host countries. The United States' dependence on foreign raw materials is increasing, making it more vulnerable to sudden shifts in sup'lies. Transfers of U.S. military technology through coproduction and licensing agreements have economical, political, and security implications. Host-ccuntry demands, changes in corporate philosophies, and new and evolving economic and political situations are causing shifts in investment patterns which could affect the U.S. economy and security. (RRS)

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