MANY countries express a love-hate relationship about U.S. capital.
They prize the economic growth, advanced technology and jobs that American investment brings, but at the same time worry that Yankee corporate colossi will rob them of economic independence. Thus foreign investments are alternately sought out and chased away. Now the cycle is in a marked swing toward nationalism. Country after country is imposing or contemplating restrictions on the American investment that it was once pleased to get. Generally, the measures are aimed against certain types of investment, not against all U.S. capital—a policy of "Some Yankees Go Home." Among the...