Wise advice.

• Author: Kimmitt, Robert M.
• Position: Rules on foreign investment - Brief article

"Foreign investment in all its forms--including foreign direct investment and portfolio investment--is a growth engine that must run smoothly for the U.S. and European economies to continue to prosper. We must tackle the growing perception that the United States and Europe are becoming less open to investment. In the United States, over five million Americans work for companies headquartered overseas. Although these jobs comprise only 4 percent of our workforce, they account for 10 percent of our capital investment, 15 percent of annual research and development, and 20 percent of our exports. And over 30 percent of these foreign direct investment jobs are in manufacturing, while only 10 percent of our overall workforce is in this sector.

"In spite of these statistics, the past year has seen headlines on both sides of the Atlantic about restrictions on foreign investment. In Europe, some countries have attempted to thwart takeovers of perceived "national champions," while other countries have...