.
While the stock market, particularly in US, has been on a tear, there is significant anxiety created by the coarse nature of political discourse. It appears that some words like “foreign”, “global” and “multi-lateral” carry negative connotations like some four lettered exclamations.
Perhaps, it is “economic nationalism” or some other fervor but the term “foreign direct investment” is being sort of replaced with “cross-border investment.” In the land of opportunity, which US continues to be distinguished as one, if some quacks like a duck and walks like a duck, then probably it is a good bet that the duck will be a productive one.
The Wilson Center in cooperation with the EuropaInstitut, held a special event in Washington to discuss “Foreign Direct Investment: Challenges and Opportunities”—commemorating the 4th Annual Swiss Day. A distinguished panel—moderated by Dr. Kent Hughes, Wilson Center Public Policy Fellow featuring Dr. Robert Litwak, Senior Vice President, Wilson Center, Swiss Ambassador H.E. Ambassador Martin Dahinden, Professor Andreas Kellerhals, EuropaInstitut, University of Zurich, Jim Creevy, Vice-President, ABB, Anne McKinney, Director, Investment Services SelectUSA, U.S. Department of Commerce and Nancy McLernon, CEO, Organization for International Investments—provided some excellent food for thought and sound arguments that can go a long way in assuaging the concerns of those who might fear change and others who are afraid that the skies will fall upon them. By presenting lucid arguments, the panelists made a sincere effort to dispel wrong perceptions and educate the public with verifiable statistics.
“Switzerland’s Economic Footprint in the United States—Creating Jobs and Supporting the U.S. Economy” was a most impressive document available to the conference participants. This document based on data made available by U.S. Department of Commerce’ Bureau of Economic Analysis. Based on this data, Ambassador Dahinden mentioned that the Swiss direct investments resulted in creation of jobs in all 50 states in the U.S. Furthermore, the average salary of $103,200 in the jobs created by Swiss companies ranks top in the large investing countries.
China’s meteoric rise from the rough and tumble days of the Cultural Revolution to the economic juggernaut has everyone on the edge of the seats these days. Nancy McLernon reminded the audience of almost similar fears created by the rapid growth of the Japanese economy. Citing the benefits of foreign direct investment, McLernon mentioned that the cosmetic giant L’Oreal largest manufacturing plant in the world is located in Arkansas—not France. Furthermore, she informed that it is solar powered with “zero waste”—an additional ecological highpoint.
“Success in U.S., can help ensure success globally,” said Anne McKinney while discussing SelectUSA and reaffirming the U.S. remains the land of opportunity. “Our communities and economy benefit from the investment,” she added.
Underscoring the optimistic view about U.S., both Ambassador Dahinden and Jim Creevy mentioned that the Swiss multinational corporation Asea Brown Boveri (ABB) has made U.S. the hub for global research and development (R&D). These speakers noted that the investments are driven primarily because of the attractiveness of the market and the innovations at break neck speed. Creevy mentioned that ABB is in touch with the communities that the company works in and invests in its people.
Speakers at this conference recognized that in the rapidly changing economy the workforce would benefit if it were flexible and willing to adapt. This means that to take advantage of the cross-border investments, workers should be willing to switch careers with technological innovations and market demands. Prosperity will follow when workers continue to make themselves attractive to the cross-border companies investing in America.
The views presented in this article are the author’s own and do not necessarily represent the views of any other organization.
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Cross-border Investments Contribute to Prosperity in America
November 15, 2017
While the stock market, particularly in US, has been on a tear, there is significant anxiety created by the coarse nature of political discourse. It appears that some words like “foreign”, “global” and “multi-lateral” carry negative connotations like some four lettered exclamations.
Perhaps, it is “economic nationalism” or some other fervor but the term “foreign direct investment” is being sort of replaced with “cross-border investment.” In the land of opportunity, which US continues to be distinguished as one, if some quacks like a duck and walks like a duck, then probably it is a good bet that the duck will be a productive one.
The Wilson Center in cooperation with the EuropaInstitut, held a special event in Washington to discuss “Foreign Direct Investment: Challenges and Opportunities”—commemorating the 4th Annual Swiss Day. A distinguished panel—moderated by Dr. Kent Hughes, Wilson Center Public Policy Fellow featuring Dr. Robert Litwak, Senior Vice President, Wilson Center, Swiss Ambassador H.E. Ambassador Martin Dahinden, Professor Andreas Kellerhals, EuropaInstitut, University of Zurich, Jim Creevy, Vice-President, ABB, Anne McKinney, Director, Investment Services SelectUSA, U.S. Department of Commerce and Nancy McLernon, CEO, Organization for International Investments—provided some excellent food for thought and sound arguments that can go a long way in assuaging the concerns of those who might fear change and others who are afraid that the skies will fall upon them. By presenting lucid arguments, the panelists made a sincere effort to dispel wrong perceptions and educate the public with verifiable statistics.
“Switzerland’s Economic Footprint in the United States—Creating Jobs and Supporting the U.S. Economy” was a most impressive document available to the conference participants. This document based on data made available by U.S. Department of Commerce’ Bureau of Economic Analysis. Based on this data, Ambassador Dahinden mentioned that the Swiss direct investments resulted in creation of jobs in all 50 states in the U.S. Furthermore, the average salary of $103,200 in the jobs created by Swiss companies ranks top in the large investing countries.
China’s meteoric rise from the rough and tumble days of the Cultural Revolution to the economic juggernaut has everyone on the edge of the seats these days. Nancy McLernon reminded the audience of almost similar fears created by the rapid growth of the Japanese economy. Citing the benefits of foreign direct investment, McLernon mentioned that the cosmetic giant L’Oreal largest manufacturing plant in the world is located in Arkansas—not France. Furthermore, she informed that it is solar powered with “zero waste”—an additional ecological highpoint.
“Success in U.S., can help ensure success globally,” said Anne McKinney while discussing SelectUSA and reaffirming the U.S. remains the land of opportunity. “Our communities and economy benefit from the investment,” she added.
Underscoring the optimistic view about U.S., both Ambassador Dahinden and Jim Creevy mentioned that the Swiss multinational corporation Asea Brown Boveri (ABB) has made U.S. the hub for global research and development (R&D). These speakers noted that the investments are driven primarily because of the attractiveness of the market and the innovations at break neck speed. Creevy mentioned that ABB is in touch with the communities that the company works in and invests in its people.
Speakers at this conference recognized that in the rapidly changing economy the workforce would benefit if it were flexible and willing to adapt. This means that to take advantage of the cross-border investments, workers should be willing to switch careers with technological innovations and market demands. Prosperity will follow when workers continue to make themselves attractive to the cross-border companies investing in America.
The views presented in this article are the author’s own and do not necessarily represent the views of any other organization.
