ABSTRACT
For generations, American business has been international in scope. As early as the 1870s, Singer Sewing Machine Company had successful production facilities in Scotland and was selling half its total output overseas. This chapter lists out some of the conditions and events that have flowed together in recent years to form the backdrop of the multinational problem. A number of distinct elements are evident. The perception of job export, the rise of Organization of Petroleum Exporting Countries (OPEC), third world ploys, corruption issue, western reversals around the world, Detente and recession: the decline of the dollar are some of the multinational problem. The continuing investment by multinationals of tens of billions of dollars of American capital overseas, once seen as beneficial, seemed to be the crowning blow. In October 1973, major Arab oil producers embargoed their product from the US At the same time, the OPEC boosted oil prices.
