Port Deal Highlights Extent of Foreign Stake in U.S. ; Many Firms, Half of Debt Held Abroad
The Record, Bergen County, NJ › March 20, 2006
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Summary
WASHINGTON The furor over efforts by an Arab company to buy U.S. port operations has focused attention on a little-noticed economic fact of life: America increasingly is foreign-owned.
From the ritzy Essex House hotel in Manhattan, owned by the Dubai Investment Group, to the nationwide chains of Caribou Coffee and Church's Chicken, owned by another company serving Arab investors, foreigners are buying bigger and bigger chunks of the country.See the full content of this document
Extract
Port Deal Highlights Extent of Foreign Stake in U.S. ; Many Firms, Half of Debt Held Abroad
The United States must borrow more than $2 billion per day from foreigners to finance its huge trade deficits. In 2005, for example, there was a record deficit of $805 billion in the current account, th...
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