ABSTRACT
Both the popular press and business periodicals feature the role of international trade and investment in today’s economy. The process of globalization leaves ever fewer countries isolated or unaffected by worldwide economic conditions outside their own borders. Worldwide trade continues its post-World War II pattern of growing more rapidly than world output. Foreign investment, while quite volatile, has risen even more rapidly over the past two decades. Mergers of companies from different countries dominate the daily headlines.
