The American Challenge of the Twenties: Multinationals and the European Motor Industry

  title={The American Challenge of the Twenties: Multinationals and the European Motor Industry},
  author={James Foreman-Peck},
  journal={The Journal of Economic History},
  pages={865 - 881}
  • J. Foreman-Peck
  • Published 1 December 1982
  • History, Economics
  • The Journal of Economic History
The different rates of technical progress in Western Europe and the United States, exemplified by the motor industry, created a problem of adjustment in international payments by the 1920s. American direct investment in manufacturing in Europe was a manifestation of technological superiority and a partial solution to the payments problem. The scale of their operations gave the American motor vehicle firms an advantage even in foreign production. An alternative way of closing the technological… 

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••• Jean-Jacques Servan-Schreiber (1924 – 2006) was a WWII fighter pilot, the founder of the French newsweekly L’Express, author of several bestsellers, and deputy and President of the regional