As a result of the 2008 global financial crisis and the Great Recession, states are confronting fierce fiscal challenges and the job market is weak. In addition, the U.S. economy is not recovering as it has in past economic downturns. In response to these increasingly bleak prospects, states have become more aggressive in the global marketplace. Fostering corporate investment from China is seen as one of the major strategies for job creation in the United States.
One problem is that, whereas states need foreign investments, federal government policies are still viewed by foreign investors as barriers to such investments. The federal government is becoming more supportive of states as they expand their international economic development efforts. Along with President Barack Obama’s revived export push, his newer international investment initiatives are reaffirming traditional U.S. open investment policies. These policies intend to remove regulatory uncertainties restricting the acquisition of domestic firms by foreign firms, that is, foreign direct investment (FDI) in the United States.1
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