After the Meltdown: Is Globalization Still Good for America?
Business globalization, foreign direct investment, and financial activities will all help pull the United States out of recession.
5/27/2010
While GDP growth is recovering, unemployment levels are still climbing. Globally, the United States and Japan show the strongest signs of recovery, while China's growth is slightly stalling, and Europe is showing slow signs of a rebound. There's still a possibility for a double dip or W-shaped recession, but economist Robert Samuelson outlines positive signs that may dispute these predictions.
As of April, the United States added 162,000 nationwide, the greatest jump in three years. Companies have more cash than before the credit crunch. And more CEOs plan to expand their work forces over the next six months than to lay workers off.
The Council, which represents approximately 300 U.S. multinational corporations, global law firms, and industry associations, promotes open markets, competitiveness and innovation, sustainable development, and responsible business practices. It's also in support of President Obama's aggressive exports policy, as well as ratification of free trade agreements with Korea, Panama, and Colombia.
Foreign direct investment will be critical during this recovery period. In a study by Dartmouth Tuck School of Business Professor Matthew Slaughter, multinational corporations were not found to negatively affect the domestic economy through outsourcing or other practices. In fact, multinationals account for 20 percent of domestic employment, 25 percent of domestic output, 30 percent of capital investment, 45 percent of exports, and 75 percent of domestic research and development.
Overall, Huneke says harnessing FDI and foreign markets should be used to recoup jobs lost during the recession and bring back a robust business climate.
Project Announcements
AESC Expands Florence, South Carolina, Operations
03/28/2024
Alticor Expands Ada Township, Michigan, Operations
03/27/2024
Eastman Plans Longview, Texas, Production Operations
03/27/2024
DHL Supply Chain-Vantage Data Centers NV11 Plan Nevada Operations
03/26/2024
Big Jet Expands Pittsburgh, Pennsylvania, Operations
03/26/2024
Landmark Ceramics UST Expands Mt. Pleasant, Tennessee, Operations
03/25/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
The Logistics Analysis That Drives Industrial Site Selection
Q4 2023
-
Manufacturing Momentum Is Building
Q1 2024
-
Technology’s Influence on Workforce Development
Workforce Q4 2023
-
37th Annual Corporate Survey: Economic Pressures Exerting Greatest Effect on Decision-Makers
Q1 2023
-
Industry in the Era of the Electron
Q1 2024