President Barack Obama is mounting a big push to bolster foreign investment in the US – amid evidence that America is falling behind other countries in the race for global capital.
The aggressive move by Mr Obama to pitch America as open for business reflects a growing realisation in Washington that the case for investing in the world’s biggest economy is no longer self-evident.
In 2000, the US held 37 per cent of the worldwide inward stock of foreign investment. By 2012, that had dwindled to 17 per cent. The US attracted $166bn in foreign direct investment in 2012, a 28 per cent fall on 2011, and this year’s performance could be weaker. In the first six months of 2013, the US brought in $66bn in foreign investment, well behind the $84bn of the first half of 2012.