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• Global Economy: Is Slower Growth Ahead? [Updated April 12, 2019]

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  From the Document: "The U.S. economy, which outperformed other developed economies in 2018 with an estimated 2.9% rate of growth, is projected by the OECD [Organization for Economic Co-operation and Development] and the IMF [International Monetary Fund] to experience a slower growth in 2019 and 2020. Similarly, the Federal Reserve forecasted in March 20, 2019, the U.S. economy would grow by 2.1% in 2019, down from a previous forecast of 2.3%. Some economic indicators suggest the U.S. economy remains comparatively strong, but a deterioration in the economies of major trading partners could negatively affect the U.S. economy and alter these forecasts. Broad financial and economic linkages tie the U.S. and global economies, which means the United States affects and is affected by events in the global economy. These effects are reflected in capital flows, the international exchange value of the dollar, interest rates, and U.S. trade balances."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-; Schwarzenberg, Andres B.

  2019-04-12
• Deadlines, Programs, and Regulations Mandated by FIRRMA [Updated May 2, 2019]

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  From the Document: "On August 13, 2018, President Trump signed the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA) (Subtitle A, Title XVII, P.L. 115-232). Various provisions became effective upon implementation, while interim rules for some provisions became effective on October 11, 2018. Among other items, FIRRMA required the Committee on Foreign Investment in the United States (CFIUS) to meet certain deadlines in programs and reporting and develop new regulations. In addition, in October 2018, the Department of the Treasury published in the Federal Register preliminary rules implementing certain provisions of FIRRMA through a pilot program, which took effect on November 10. FIRRMA's implementation may raise several questions for the 116th Congress, such as the extent to which modernization of CFIUS and its review of foreign direct investment transactions for their national security implications will safeguard U.S. national security interests, particularly those related to strategic competition for leading edge technology."

  Library of Congress. Congressional Research Service

  Cimino-Isaacs, Cathleen D.; Jackson, James K., 1949-

  2019-05-02
• CFIUS Reform: Foreign Investment National Security Reviews [Updated May 2, 2019]

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  From the Overview: "Some Members of Congress, the Trump Administration, and some U.S. businesses have raised concerns over the risks to continued U.S. technological leadership to support national defense and economic security due to growing foreign direct investment (FDI), primarily by Chinese firms, in U.S. high-tech companies. On August 13, 2018, President Trump signed into law new rules governing foreign investment national security reviews. Known as the 'Foreign Investment Risk Review Modernization Act (FIRRMA) of 2018' (Title XVII, P.L. 115-232), the legislation amends the current process for the Committee on Foreign Investment in the United States (CFIUS) (under P.L. 110-49) to review, on behalf of the President, the national security implications of FDI in the United States."

  Library of Congress. Congressional Research Service

  Cimino-Isaacs, Cathleen D.; Jackson, James K., 1949-

  2019-05-02
• Committee on Foreign Investment in the United States [Updated May 2, 2019]

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  From the Document: "The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee that serves the President in overseeing the national security implications of foreign investment in the economy. It reviews foreign investment transactions to determine if: (1) they threaten to impair the national security; (2) the foreign investor is controlled by a foreign government; or (3) the transaction could affect homeland security or would result in control of any critical infrastructure that could impair the national security. The President has the authority to block proposed or pending foreign investment transactions that threaten to impair the national security."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2019-05-02
• Committee on Foreign Investment in the United States (CFIUS) [Update May 15, 2019]

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  From the Document: "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in reviewing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation's national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS's review procedures under intense scrutiny by Members of Congress and the public. In 2018, prompted by concerns over Chinese and other foreign investment in U.S. companies with advanced technology, Members of Congress and the Trump Administration enacted the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA), which became effective on November 11, 2018. This measure marked the most comprehensive revision of the foreign investment review process under CFIUS since the previous revision in 2007, the Foreign Investment and National Security Act (FINSA)."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2019-05-15
• Committee on Foreign Investment in the United States [Updated February 5, 2019]

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  From the Document: "The Committee on Foreign Investment in the United States (CFIUS) is an interagency committee that serves the President in overseeing the national security implications of foreign investment in the economy. It reviews foreign investment transactions to determine if: (1) they threaten to impair the national security; (2) the foreign investor is controlled by a foreign government; or (3) the transaction could affect homeland security or would result in control of any critical infrastructure that could impair the national security. The President has the authority to block proposed or pending foreign investment transactions that threaten to impair the national security."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2019-02-05
• Global Economic Effects of COVID-19 [Updated May 15, 2020]

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  From the Document: "Since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 190 countries and all U.S. states. The pandemic is having a noticeable impact on global economic growth. Estimates so far indicate the virus could trim global economic growth by as much as 2.0% per month if current conditions persist and raise the risks of a global economic recession similar in magnitude to that experienced during the Great Depression of the 1930s. Global trade could also fall by 13% to 32%, depending on the depth and extent of the global economic downturn. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-; Schwarzenberg, Andres B.; Weiss, Martin A. . . .

  2020-05-15
• Global Economic Effects of COVID-19 [Updated May 1, 2020]

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  From the Summary: "Since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 190 countries and all U.S. states. The pandemic is having a noticeable impact on global economic growth. Estimates so far indicate the virus could trim global economic growth by as much as 2.0% per month if current conditions persist. Global trade could also fall by 13% to 32%, depending on the depth and extent of the global economic downturn. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .

  2020-05-01
• Global Economic Effects of COVID-19 [Updated June 4, 2020]

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  From the Summary: "Since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 190 countries and all U.S. states. The pandemic is having a noticeable impact on global economic growth. Estimates so far indicate the virus could trim global economic growth by as much as 2.0% per month if current conditions persist and raise the risks of a global economic recession similar in magnitude to that experienced during the Great Depression of the 1930s. Global trade could also fall by 13% to 32%, depending on the depth and extent of the global economic downturn. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .

  2020-06-04
• Dollar and the U.S. Trade Deficit [Updated December 9, 2020]

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  From the Overview: "Since taking office, the Trump Administration has used the overall and bilateral U.S. trade deficits as one of its barometers for evaluating the success or failure of the global trading system, U.S. trade policy, and trade agreements. In an effort to reduce the trade deficit and for other policy objectives, the Administration has renegotiated existing trade agreements, withdrawn from or suspended negotiations on other trade agreements, initiated new agreements, and placed tariffs on a range of imports. Previous administrations and Members of Congress, while expressing concern, have not legislated policies specifically to reduce the trade deficit. The Trump Administration also has advocated for depreciating the dollar against other major currencies, reasoning that a weaker dollar would increase U.S. exports and reduce the nation's trade deficit. Additionally, the Administration contends that certain countries are manipulating their currencies to give their exports a price advantage. On February 3, 2020, the Commerce Department issued a rule that allows currency manipulation potentially to be considered as a domestic subsidy under U.S. countervailing duty laws. The International Monetary Fund (IMF) concluded in its July 2020 report on external balances that current accounts and currencies may be under- or over-valued at times, but this largely reflected domestic economic policies. Economists have raised concerns about the broader long-term impact on the U.S. economy of financing trade deficits."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2020-12-09
• Global Economic Effects of COVID-19 [Updated November 5, 2020]

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  From the Document: "In the months since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could reduce global economic growth to an annualized rate of -4.5% to -6.0% in 2020, with a partial recovery of a rate of 2.5% to 5.2% in 2021. However, a resurgence in infectious cases in Europe, the United States, and various developing economies in September and October renewed calls for stringent lockdowns and curfews and could weaken or delay an economic recovery. The economic fallout from the pandemic could also risk continued labor dislocations as a result of lingering high levels of unemployment not experienced since the Great Depression of the 1930s and high levels of debt among developing economies. [...] The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-; Nelson, Rebecca M.; Weiss, Martin A. . . .

  2020-11-05
• Global Economic Effects of COVID-19 [Updated December 23, 2020]

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  From the Summary: "In the months since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could reduce global economic growth to an annualized rate of -4.5% to -6.0% in 2020, with a partial recovery of a rate of 2.5% to 5.2% in 2021. Compared with the synchronized nature of the global economic slowdown in the first half of the year, the global economy showed signs of a two-track recovery in the third quarter with developed economies experiencing a nascent recovery, while growth rates in developing economies lagged behind. However, a resurgence in infectious cases in Europe, the United States, and various developing economies since September renewed calls for lockdowns and curfews and threatened to weaken or delay a sustained economic recovery. The economic fallout from the pandemic could risk continued labor dislocations as a result of lingering high levels of unemployment not experienced since the Great Depression of the 1930s and high levels of debt among developing economies. Job losses have been concentrated more intensively in the services sector where workers have been unable to work offsite. The human costs in terms of lives lost will permanently affect global economic growth in addition to the cost of rising levels of poverty, lives upended, careers derailed, and increased social unrest."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .

  2020-12-23
• Global Economic Effects of COVID-19 [Updated November 19, 2020]

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  From the Summary: "In the months since the COVID-19 [coronavirus disease 2019] outbreak was first diagnosed, it has spread to over 200 countries and all U.S. states. The pandemic has negatively affected global economic growth beyond anything experienced in nearly a century. Estimates so far indicate the virus could reduce global economic growth to an annualized rate of -4.5% to -6.0% in 2020. [...] The economic fallout from the pandemic could also risk continued labor dislocations as a result of lingering high levels of unemployment not experienced since the Great Depression of the 1930s and high levels of debt among developing economies. The human costs in terms of lives lost will permanently affect global economic growth in addition to the cost of rising levels of poverty, lives upended, careers derailed, and increased social unrest. Some estimates indicate that 100 million to 110 million people globally could enter extreme poverty as a result of the contraction in the global economy. Global trade could fall by an annual amount of 9.2%, depending on the depth and extent of the global economic downturn, exacting an especially heavy economic toll on trade-dependent developing and emerging economies. The full impact will not be known until the effects of the pandemic peak. This report provides an overview of the global economic costs to date and the response by governments and international institutions to address these effects."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-; Weiss, Martin A.; Schwarzenberg, Andres B. . . .

  2020-11-19
• U.S. Trade Deficit: An Overview [Updated December 9, 2020]

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  From the Overview: "The trade deficit is the numerical difference between a country's exports and imports of goods and services. The United States has experienced annual trade deficits during most of the post-WWII [World War Two] period. Some observers argue that the trade deficit costs U.S. jobs, is unsustainable, or reflects unfair trade practices by foreign competitors. Most economists contend this mischaracterizes the nature of the trade deficit and the role of trade in the economy. In general, most economists conclude the trade deficit stems largely from U.S. macroeconomic policies and an imbalance between saving and investment in the economy. Economists also conclude that trade creates both economic benefits and costs, but that the long-run net effect on the economy as a whole is positive. At the same time, some workers and firms may experience a disproportionate share of short-term adjustment costs."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2020-12-09
• U.S. Dollar as the World's Dominant Reserve Currency [December 18, 2020]

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  From the Document: "The U.S. dollar is the world's dominant reserve currency, among other such currencies including the euro, the yen, the pound, the renminbi (RMB), the Canadian dollar, the Swiss franc, and the Australian dollar. A reserve currency is a currency held by central banks in significant quantities. It is widely used to conduct international trade and financial transactions, eliminating the costs of settling transactions involving different currencies. The dollar has functioned as the world's dominant reserve currency since World War II. Today, central banks hold about 60% of their foreign exchange reserves in dollars. About half of international trade is invoiced in dollars, and about half of all international loans and global debt securities are denominated in dollars. In foreign exchange markets, where currencies are traded, dollars are involved in nearly 90% of all transactions. The dollar is the preferred currency for investors during major economic crises, as a 'safe haven' currency. During the global financial crisis of 2008-2009, for example, and amidst the economic turmoil associated with the Coronavirus Disease 2019 pandemic in 2020, investors sought U.S. dollars, expecting the dollar to retain its value. In both crises, the U.S. Federal Reserve adopted extraordinary monetary authorities and currency swap lines with other central banks to provide liquidity and dollars."

  Library of Congress. Congressional Research Service

  Nelson, Rebecca M.; Jackson, James K., 1949-; Weiss, Martin A.

  2020-12-18
• Section 232 Steel and Aluminum Tariffs: Potential Economic Implications [March 19, 2018]

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  "Effective March 23, President Trump will apply 25% and 10% tariffs, respectively, on certain steel and aluminum imports, from all countries, excluding Canada and Mexico at least at this time. These tariffs will affect various stakeholders in the U.S. economy, prompting reactions from several Members of Congress, some in support and others voicing concerns. In general, the tariffs would be expected to benefit the domestic steel and aluminum industries, leading to potential expansion in production in those sectors, while potentially negatively affecting consumers and downstream domestic industries (e.g., manufacturing and construction) through higher costs."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2018-03-19
• Committee on Foreign Investment in the United States (CFIUS) [March 13, 2018]

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  "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation's national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS's review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS's operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, various measures have been introduced that could have broad implications for CFIUS's operations and activities."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2018-03-18
• Economic Effects of Trade: Overview and Policy Challenges [April 20, 2018]

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  "The United States historically has led the global economic order that evolved after World War II. This economic order established multilateral economic institutions to advance rules-based commercial economic engagement, open markets, and transparent, nondiscriminatory treatment of all economic players. In turn, these efforts supported overall domestic and global economic growth and the nation's broader strategic interests. This agenda was broadly supported by successive Congresses and Administrations over seven decades. Congress plays a key role in U.S. trade policy by approving trade agreements, overseeing trade-oriented government agencies and adjustment assistance programs, and setting the terms for U.S. engagement with the global economy."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2018-04-20
• Committee on Foreign Investment in the United States (CFIUS) [March 31, 2017]

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  From the Summary: "The Committee on Foreign Investment in the United States (CFIUS) is comprised of nine members, two ex officio members, and other members as appointed by the President representing major departments and agencies within the federal executive branch. While the group generally has operated in relative obscurity, the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed the group's operations under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of the 109th and 110th Congresses questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS's operations lack transparency. Other Members revisited concerns about the linkage between national security and the role of foreign investment in the U.S. economy. Some Members of Congress and others argued that the nation's security and economic concerns had changed following the September 11, 2001, terrorist attacks and that those concerns were not being reflected sufficiently in the Committee's deliberations. In addition, anecdotal evidence seemed to indicate that the CFIUS process was not market neutral. Instead, a CFIUS investigation of an investment transaction may have been perceived by some firms and by some in the financial markets as a negative factor that added to uncertainty and may have spurred firms to engage in behavior that may not have been optimal for the economy as a whole."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2017-03-31
• Trade Deficits and U.S. Trade Policy [June 28, 2018]

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  "The economic effects of the U.S. trade deficit have been a topic of long-standing congressional interest. The U.S. Constitution grants authority to Congress to regulate commerce with foreign nations and to lay and collect duties, and Congress exercises this authority in numerous ways. These include oversight of trade policy and consideration of legislation to implement trade agreements and to authorize trade programs. In some cases, Congress has delegated certain authorities over trade policy to the Executive Branch: for example, to facilitate trade negotiations."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2018-06-28
• Committee on Foreign Investment in the United States (CFIUS) [July 3, 2018]

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  "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. While the group often operated in relative obscurity, the perceived change in the nation's national security and economic concerns following the September 11, 2001, terrorist attacks and the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS's review procedures under intense scrutiny by Members of Congress and the public. Prompted by this case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS's operations lacked transparency. The current CFIUS process reflects changes Congress initiated in the first session of the 110th Congress, when the House and Senate adopted S. 1610, the Foreign Investment and National Security Act of 2007 (FINSA). In the 115th Congress, the House and Senate adopted measures that would mark the most comprehensive reform of CFIUS since FINSA in 2007 (S. 2987/H.R. 5515), the Foreign Investment Risk Review Modernization Act of 2017)."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2018-07-03
• Committee on Foreign Investment in the United States (CFIUS) [October 11, 2017]

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  "The Committee on Foreign Investment in the United States (CFIUS) is an interagency body comprised of nine Cabinet members, two ex officio members, and other members as appointed by the President, that assists the President in overseeing the national security aspects of foreign direct investment in the U.S. economy. [...] The U.S. policy approach to international investment traditionally has been to establish and support an open and rules-based system that is in line with U.S. economic and national security interests. The current debate over CFIUS reflects long-standing concerns about the impact of foreign investment on the economy and the role of economics as a component of national security. [...] Changes in U.S. foreign investment policy have potentially large economy-wide implications, since the United States is the largest recipient and the largest overseas investor of foreign direct investment. To date, only four investments have been blocked by previous Presidents, although proposed transactions may have been terminated by the firms involved in lieu of having a transaction blocked. President Obama used the FINSA [Foreign Investment and National Security Act of 2007] authority in 2012 to block an American firm, Ralls Corporation, owned by Chinese nationals, from acquiring a U.S. wind farm energy firm located near a DOD facility and to block a Chinese investment firm in 2016 from acquiring Aixtron, a Germany-based firm with assets in the United States. In 2017, President Trump blocked the acquisition of Lattice Semiconductor Corp. by the Chinese investment firm Canyon Bridge Capital Partners."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2017-10-11
• Foreign Direct Investment in the United States: An Economic Analysis [June 29, 2017]

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  "Foreign direct investment in the United States in 2015 increased by 83% over that recorded in 2014. (Note: The United States defines foreign direct investment as the ownership or control, directly or indirectly, by one foreign person [individual, branch, partnership, association, government, etc.] of 10% or more of the voting securities of an incorporated U.S. business enterprise or an equivalent interest in an unincorporated U.S. business enterprise [15 CFR §806.15 (a)(1)].) In 2015, according to U.S. Department of Commerce data, foreigners invested $379 billion in U.S. businesses and real estate, compared with the $207 billion invested in 2014. Foreign direct investments are highly sought after by many state and local governments that are struggling to create additional jobs in their localities. While some in Congress encourage such investment to offset the perceived negative economic effects of U.S. firms investing abroad, others are concerned about foreign acquisitions of U.S. firms that are considered essential to U.S. national and economic security."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2017-06-29
• Organization for Economic Cooperation and Development [January 19, 2007]

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  "The Organization for Economic Cooperation and Development (OECD) is an intergovernmental economic organization in which the 30 member countries discuss, develop and analyze economic and social policy. While all of the member countries are considered to be economically advanced and collectively produce two-thirds of the world's goods and services, membership is limited only by a country's commitment to a market economy and a pluralistic democracy. The member countries rely on the OECD Secretariat in Paris to collect data, monitor trends, analyze and forecast economic developments, research social changes and patterns in trade, environment, agriculture, technology, taxation and other areas to inform their discussions and to assist them in pursuing their efforts to develop common policies and practices. The U.S. has sparred periodically with other OECD member countries over various issues, including U.S. antidumping laws. The OECD Members recently selected Angel Gurria of Mexico to serve as the next Secretary General, who began his term in May 2006. Key issues for Congress include OECD work on coordinating national approaches to curtailing bribery and the illicit use of tax havens. The Bush Administration proposed appropriating $92 million to the OECD in FY2007, an 8% increase from the $85 million appropriated in the FY2006 budget. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2007-01-19
• Organization for Economic Cooperation and Development [February 4, 2008]

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  "The Organization for Economic Cooperation and Development (OECD) is an intergovernmental economic organization in which the 30 member countries discuss, develop and analyze economic and social policy. While all of the member countries are considered to be economically advanced and collectively produce two-thirds of the world's goods and services, membership is limited only by a country's commitment to a market economy and a pluralistic democracy. The member countries rely on the OECD Secretariat in Paris to collect data, monitor trends, analyze and forecast economic developments, research social changes and patterns in trade, environment, agriculture, technology, taxation and other areas to inform their discussions and to assist them in pursuing their efforts to develop common policies and practices. The U.S. has sparred periodically with other OECD member countries over various issues, including U.S. antidumping laws. Christopher F. Egan was appointed by President Bush to serve as the U.S. Ambassador to the OECD and confirmed by the Senate on October 26, 2007. Key issues for Congress include OECD work on coordinating national approaches to curtailing bribery and the illicit use of tax havens. Congress appropriated about $117 million to the OECD in FY2008. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2008-02-04
• Organization for Economic Cooperation and Development [May 25, 2012]

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  "The Organization for Economic Cooperation and Development (OECD) celebrated its 50th Anniversary in 2011, a time when the global economy continues to struggle to recover from a financial crisis and slow economic growth. The OECD is an intergovernmental economic organization in which the 34 member countries discuss, develop and analyze economic and social policy and share expertise and exchanges with more than 70 developing and emerging economies. The member countries include Australia, Austria, Belgium, Canada, Chile, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, The Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, and the United States. While all of the member countries are considered to be economically advanced and collectively produce three-fourths of the world's goods and services, membership is limited only by a country's commitment to a market economy and a pluralistic democracy. The OECD has also extended an invitation to Russia to open discussions for membership and it has offered enhanced engagement with a view to possible membership to Brazil, China, India, Indonesia, and South Africa."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2012-05-25
• Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data [May 10, 2012]

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  "The impact of foreign direct investment on U.S. employment is provoking a national debate. While local communities compete with one another for investment projects, many of the residents of those communities fear losing their jobs as U.S. companies seek out foreign locations and foreign workers to perform work that traditionally has been done in the United States, generally referred to as outsourcing. Some observers suggest that current U.S. experiences with outsourcing are different from those that have preceded them and that this merits legislative actions by Congress to blunt the economic impact of these activities. Other observers argue that investing abroad by U.S. multinational companies impedes the growth of new jobs in the economy and thwarts the nation's investments in high technology sectors. […] Broad, comprehensive data on U.S. multinational companies generally lag behind current events by two years and were not developed to address the issue of jobs outsourcing. Many economists argue, however, that there is little evidence to date to support the notion that the overseas investment activities of U.S. multinational companies play a significant role in the rate at which jobs are created in the U.S. economy. Instead, they argue that the source of job creation in the economy is rooted in the combination of macroeconomic policies the nation has chosen, the rate of productivity growth, and the availability of resources. This report addresses these issues by analyzing the extent of direct investment into and out of the economy, the role such investment plays in U.S. trade, jobs, and production, and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2012-05-10
• Outsourcing and Insourcing Jobs in the U.S. Economy: An Overview of Evidence Based on Foreign Investment Data [May 13, 2008]

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  "Foreign direct investment is sparking a national debate. Local communities compete for investment projects, while many of the residents of those communities fear losing their jobs to foreign outsourcing. Some opponents argue that such job losses have a disproportionately negative impact on local communities. Economists generally argue that free and unimpeded international capital flows have a positive impact on both domestic and foreign economies. This issue is complicated by the fact that broad, comprehensive data on U.S. multinational companies was not developed to address the issue of jobs outsourcing. This report provides an overview of CRS [Congressional Research Service] Report RL32461, 'Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data', that analyzes the extent of direct investment into and out of the economy and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2008-05-13
• Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data [June 21, 2013]

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  "The impact of foreign direct investment on U.S. employment continues to attract national attention. While local communities compete with one another for investment projects, many of the residents of those communities fear losing their jobs as U.S. companies seek out foreign locations and foreign workers to perform work that traditionally has been done in the United States, generally referred to as outsourcing. Some observers suggest that current U.S. experiences with outsourcing are different from those that have preceded them and that this merits legislative actions by Congress to blunt the economic impact of these activities. Other observers argue that investing abroad by U.S. multinational companies impedes the growth of new jobs in the economy and thwarts the nation's investments in high technology sectors. Some opponents also argue that mid-career workers who lose good-paying manufacturing and service-sector jobs likely will never recover their standard of living. Economists and others generally argue that free and unimpeded international flows of capital ultimately have a positive impact on both domestic and foreign economies. Direct investment is unique among international capital flows because it adds permanently to the capital stock and skill set of a nation, but it also challenges the general theory of capital flows because of the presence of strong cross-border and intra-industry investment. Supporters contend that to the extent that foreign investment shifts jobs abroad, it is a minor component of the overall economic picture and that it is offset somewhat by the investment of foreign firms in the U.S. economy (referred to as insourcing), which supports existing jobs and creates new jobs in the economy."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2013-06-21
• Outsourcing and Insourcing Jobs in the U.S. Economy: Evidence Based on Foreign Investment Data [May 13, 2008]

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  "The impact of foreign direct investment on U.S. employment is provoking a national debate. While local communities compete with one another for investment projects, many of the residents of those communities fear losing their jobs as U.S. companies seek out foreign locations and foreign workers to perform work that traditionally has been done in the United States, generally referred to as outsourcing. Some observers suggest that current U.S. experiences with outsourcing are different from those that have preceded them and that this merits legislative actions by Congress to blunt the economic impact of these activities. Other observers argue that investing abroad by U.S. multinational companies impedes the growth of new jobs in the economy and thwarts the nation's investments in high technology sectors. Some opponents also argue that mid-career workers who lose good-paying manufacturing and service-sector jobs likely will never recover their standard of living. […] Broad, comprehensive data on U.S. multinational companies generally lag behind current events by two years and were not developed to address the issue of jobs outsourcing. Many economists argue, however, that there is little evidence to date to support the notion that the overseas investment activities of U.S. multinational companies play a significant role in the rate at which jobs are created in the U.S. economy. […] This report addresses these issues by analyzing the extent of direct investment into and out of the economy, the role such investment plays in U.S. trade, jobs, and production, and the relationship between direct investment and the broader economic changes that are occurring in the U.S. economy. This report will be updated as events warrant."

  Library of Congress. Congressional Research Service

  Jackson, James K., 1949-

  2008-05-13