June 20, 2016

THERE'S ONLY ONE SAFE HARBOR:

Globalization Gets a Bum Rap, But Foreign Investment in U.S. Hits a Record High (WILLIAM MAULDIN, Jun 20, 2016, WSJ)

[T]he weakness on the international scene is actually helping the U.S., whose slow-but-steady economic growth helps makes a better investment case than many other big countries can offer, especially when low energy costs and other potential benefits are factored in.

"I don't mind being America's pitchman," Mr. Obama told the SelectUSA Investment Summit in Washington on Monday. "In seven months or so, I'll be on the job market," he said. "I'm going to get on LinkedIn."

For years, the administration has been working to spur investment in the technology-heavy manufacturing in select hubs around the country, and the White House announced a new initiative on smart sensors on Monday.

Nearly 70% of foreign investment in 2015 flowed to manufacturing in 2015, the Commerce Department said in a report released Monday.

"President Obama and Secretary [Penny] Pritzker deserve a lot of credit for making global investment an economic priority by creating SelectUSA," said Nancy McLernon, president of the Organization for International Investment, which represents international companies that do business in the U.S. "Unfortunately, as recent actions here in Washington demonstrate, some policymakers have not yet connected the dots between the goals of job creation that we all share and the implications of the policies they choose to pursue."

One in seven U.S. private-sector jobs is tied to foreign investment, according to a report released Monday from the OFII.

And global demographics will only accelerate this in coming decades.

Posted by at June 20, 2016 4:50 PM

  

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