US national security and foreign direct investment / Edward M. Graham and David M. Marchick.

Format:

Book

Author/Creator:

Graham, Edward M. (Edward Montgomery), 1944-2007.

Contributor:

Marchick, David Matthew, 1966-

Language:

English

Subjects (All):

Investments, Foreign--Political aspects--United States.

Investments, Foreign.

National security--United States.

National security.

Physical Description:

1 online resource (217 p.)

Edition:

1st ed.

Other Title:

U.S. national security and foreign direct investment

Place of Publication:

Washington, DC : Institute for International Economics, c2006.

Language Note:

English

Summary:

Although a vital part of the US economy, foreign direct investment (FDI) in the United States periodically raises public and congressional alarms as witnessed during Dubai Ports World's recent bid to acquire US port operations and Chinese firm CNOOC's attempt to buy US energy firm Unocal. Drawing fire from Congress are the Exon-Florio provisions of US law, which enable the president to block a foreign acquisition that threatens national security. This important new book finds that many proposed reforms risk harming the US economy without enhancing national security. The authors propose ways to strengthen the current interagency review of deals, including an improved process for reporting to Congress."

Contents:

Cover; Contents; Preface; Executive Summary; Acknowledgments; Chapter 1 Introduction; FDI in the Early 20th Century; Postwar Trends in FDI; The FDI Expansion of 1985-2003; The Impetus for This Book; Chapter 2 The Exon-Florio Amendment; Overview of the Exon-Florio Amendment; Enactment of the Exon-Florio Amendment; The Meaning of ""National Security"" in Practice; Exon-Florio in the Post-September 11 Environment; Chapter 3 The Economic Effects of Foreign Investment in the United States; Importance of FDI to the US Economy; FDI's Effects on US Workers; FDI and US Research and Development

FDI and Economic GrowthFDI and Spillovers; Chapter 4 National Security Issues Related to Investments from China; China: A New Player in FDI; Unique National Security Issues Associated with Chinese Investment; Chinese State Control of Corporations and the Byrd Amendment; Export Controls; Espionage; Strengthening the Chinese Military; State Subsidies; Policy Implications for Future CFIUS Reviews of Chinese Acquisitions; Chapter 5 Politicization of the CFIUS Process; BTR-Norton and Global Crossing; ASML and Silicon Valley Group; VSNL and Tyco Global Network

CNOOC's Proposed Acquisition of UnocalThe Dubai Ports World Controversy; Chapter 6 Policy Recommendations: Improving the Implementation of Exon-Florio; Covering Critical Infrastructure; Establishing Security Standards for Employment of Nonnationals in Sensitive Positions; Enhancing Disclosure of Information to Congress; Improving and Clarifying the ""Control"" Standard; Developing International Standards for National Security Review Processes; Rejecting Proposed Amendments; Conclusion; Appendix 6A US Critical Infrastructure Sectors; References; Index

Notes:

Description based upon print version of record.

Includes bibliographical references (p. 179-184) and index.

ISBN:

1-281-06093-3

9786611060930

0-88132-474-4

1-4356-0919-0

OCLC:

317384445