Traditionally, the United States has maintained an open door at home while promoting investment liberalization abroad through the negotiation of bilateral and regional treaties. This strategy has paid off by boosting productivity and economic welfare at home, while developing countries are moving at an unprecedented rate to emulate the successful open-door policies of the United States. There is also renewed interest in a multilateral set of rules for investment. At the same time, a new generation of U.S. laws and proposed regulations challenges the very foundation of America's open door - namely, the principles of national treatment and nondescrimination. This volume brings both sides of the debate together to examine the changing economic role of foreign investment, the policy trends, and the tools for reducing barriers to transnational investors. The result is a provocative and informative discussion of the strategies and trade-offs shaping the foreign investment debate.