Following the political controversy that erupted over possible acquisitions of US port facilities by Dubai Ports World, congressional proposals were brought forth for strengthening the
Exon-Florio Amendment to the Defense Production Act in the Omnibus Trade and Competitiveness Act of 1988, which gives the president powers to block foreign acquisitions or takeovers of US
companies for national security reasons. Reviewing these and other issues of foreign direct investment and national security, Graham (Columbia U.) and Marchick (a partner with Covington &
Burling) argue against many of the proposed reforms, including establishing a mandatory filing requirement or introducing an economic security test, as being harmful to the economy. They do
make some recommendations for reforming the review process of the Committee on Foreign Investment in the United States. Annotation ©2006 Book News, Inc., Portland, OR (booknews.com)
