"If you were to look at America Inc. as a company, it's like owning a company and you own a smaller and smaller fraction of it. So the fraction of America Inc. owned by Americans is diminishing," says Joseph Stiglitz, a Nobel Prize winner and former chief economist of the World Bank.
The untold story here is that foreign investors are no longer willing to finance American debt," says Stiglitz. "They now want equity."
The surge of foreign buying spans the economy. Since 2003, foreign-led mergers and acquisitions have increased more than sixfold. Last year there were over 2,000 foreign-led acquisitions of U.S. companies in deals worth some $405.4 billion, twice the value of deals in 2006 and up from $60.8 billion in 2003, according to Thomson Reuters, the financial-information company.
http://www.time.com/time/magazine/article/0,9171,1832861,00.html
The untold story here is that foreign investors are no longer willing to finance American debt," says Stiglitz. "They now want equity."
The surge of foreign buying spans the economy. Since 2003, foreign-led mergers and acquisitions have increased more than sixfold. Last year there were over 2,000 foreign-led acquisitions of U.S. companies in deals worth some $405.4 billion, twice the value of deals in 2006 and up from $60.8 billion in 2003, according to Thomson Reuters, the financial-information company.
http://www.time.com/time/magazine/article/0,9171,1832861,00.html
