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Joint ventures with US participation in the Third World; typology of participation and geographical distribution since the 1950s. Chapter from the book, "Alleanze multinazionali: le joint-ventures nell'economia mondiale," edited by Giovanni Balcet, to be published by Etas Libri, Milan.

Among the most significant changes in the pattern of Italian foreign direct investments during the 1990s were : the growing role of traditional industries and the tendency for such investments to be made in Central and Eastern Europe. As a consequence, the internationalization of Italian firms tends to correspond to trade patterns, highly concentrated in traditional sectors and in mechanical engineering. Fast- growing medium-sized companies and groups, usually family-owned, have become the new actors in this phase of international expansion. The textile and clothing industry illustrates this new trend. The relation between the international expansion of Italian firms in the CEECs, as expressed by turnover and employment in their foreign affiliates, is analyzed along with the creation of foreign trade and outward processing trade in this zone. The impact of industrial redeployment on business and employment in Italy, as well as related policy issues, come under discussion.