Direct Investment and Monopoly Theories of Imperialism

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Abstract
: reduction in overall rates of economic growth ; stagnating investment, a large proportion of which was devoted to replacement and rationalisation ; the triumph of the so-called electronic revolution ; the growing export of capital in the form of direct investment ; structural crises in an increasing number of economic sectors ; structural changes in the international division of labour ; the emergence of thethreshold countries' out of the ranks of the developing countries ; the growth and development of export-oriented international sub-contracting within the socialist countries ; persistent high unemployment in the capitalist industrialised countries ; pressure on the level of real wages and salaries ; protectionist measures to restrict the international movement of commodities and capital ; and so on, to cite just a few of those aspects of economic development in the last decade which clearly differentiate it from the previous two .' These factors were also visible in the economic development of West Germany . Firstly,in relation to West Germany's changed external economic position, characterised by :-

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