Strong Dollar, Weak Effect
It wasn't supposed to happen. After soaring nearly 30% last year, U.S. corporate receipts from foreign direct investment were expected to sag this year because of sluggish global growth and a strong greenback's impact on the dollar value of overseas profits. Instead, first-quarter foreign earnings rose 12% over their year-earlier level, and economist Joseph P. Quinlan of Dean Witter Reynolds Inc. expects them to keep that edge through 1996 (chart).
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