The American Challenge of the Twenties: Multinationals and the European Motor Industry
@article{ForemanPeck1982TheAC, title={The American Challenge of the Twenties: Multinationals and the European Motor Industry}, author={James Foreman-Peck}, journal={The Journal of Economic History}, year={1982}, volume={42}, pages={865 - 881} }
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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