Corporate America is facing economic challenges that are without precedent. Although many factors are contributing to this situation, none are as dramatic as the growing competition in the global marketplace. Joint ventures with international competitors have become a way of life. Although these alliances often provide the capital and the labor rates necessary to compete in an international marketplace, they are not without danger. They have the potential to provide short term gains while simultaneously providing the tools that could ultimately jeopardize the survival of the corporation. Failure to balance the need for profits with the necessity of maintaining a competitive edge could (in the long run) be disastrous. For economic survival, corporate America must learn to "walk the tightrope."

In an article in USA TODAY (March 12, 1992) titled "'Buy America' debate: Jobs vs. Control," Harvard economist Robert Reich was quoted as saying "Borders are disappearing economically." The article continued with the on-going debate about what we need - good paying jobs or American control? Is it better to have good paying jobs in this country regardless of whether the firm is American or foreign owned, or is American control more important regardless of where the jobs are? There are no easy answers to this dilemma as there are no easy answers to what actually constitutes an "American product". I would like to suggest that good paying jobs within the U.S. are critical to the nation's immediate well-being. However, at the same time, "control" is the element that is absolutely essential to long term corporate survival. It is the "control" factor that allows the American Corporation to maintain the edge.

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