Ford. and other multinationals has benefited the rest of the world. capital coming the other way enriches the U.S. Says Lord Lever. a British businessman who served in the cabinets of Prime Ministers Harold Wilson and James Callaghan: "Europe got 20 times more out of American investment after the war than the multinationals did. Every country gains by productive investment." A further word of comfort to the xenophobes: The U.S. is hardly being colonized. Foreigners own just 1% of U.S. real estate and farmland and claim less than 5% of corporate earnings. And while foreign companies get to repatriate their profits. the wages they pay and the value added in their manufacturing plants bolster Americas gross national product. Jobs are the most compelling reason to cheer about capital immigration. Foreign companies directly employ some three million Americans. or about 3 percent of the work force. and create jobs for countless more in shops where those workers spend their paychecks. Unsurprisingly. local merchants and politicans are the foreigners biggest fans.
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immigration xenophobes