If you aren’t already reading "Tax Notes" and other publications from non-profit Tax Analysts, this article from December 2006 may convince you to sign up. Using Commerce Dept. data from 1983 and 2004, alongside a historical timeline of multinational competition and U.S. tax policy, the piece spotlights trends in foreign and domestic investment and policy implications for international taxation.

Among the attendees at 'The Emerging Strength of Emerging Markets' session at the World Economic Forum in Davos was Michael D. White, chairman and CEO of PepsiCo International, USA, part of IAMC member company PepsiCo. Copyright by World Economic Forum swiss-image.ch/Photo by Remy Steinegger

Deloitte’s growing menu of Webcasts includes upcoming sessions on 2007 commercial real estate capital flows (Feb. 6), "India Update: Is It Really the New China?" and "The Globally Mobile Workforce: Is It Time to Overhaul Your Expatriate Program?"

The Edelman Trust Barometer 2007 , released Jan. 22, reveals that business is more trusted than government or media in every region of the globe ... trust us, it’s true. "Business is seeing a rebound in trust because of strong economic growth, visible consequences for executive malfeasance, and success in solving problems facing society." said Richard Edelman, president and CEO of the eponymous PR firm. "Business has a clear opportunity to assume a leadership role on major issues, from climate change to privacy." Among its other key findings:

• At least 70% of respondents in North America (71%) and Asia (72%) state that global business plays a role that no other institution can in addressing major social and environmental challenges. Fifty-seven percent in the European Union and 63% in Latin America also believe this to be true.
• In 11 of 18 countries, business magazines are the most or second most trusted source of information about a company.
• "For the third straight year, American brands operating in Europe continue to receive a trust discount," reported Edelman. "For example, McDonald’s is trusted by 60% of respondents in the United States and by only 26% across the United Kingdom, France, and Germany. However, American brands are trusted in the developing world, with McDonald’s trusted by 75% of Chinese respondents and 66% of Brazilian respondents."

The joint Battelle-R&D Magazine 2007 R&D Funding Forecast calls for an increase of 2.85 percent in 2007 from 2006, to $338 billion, driven by industry, not federal monies. According to the report, Industrial investments on R&D are expected to reach $219 billion in 2007, an increase of 3.4 percent over 2006 levels of $212 billion. While federal funds will continue to flow freely toward defense and homeland security areas, growth fields for industry are electronics, biotechnology, pharmaceuticals, software development, and process modeling, with aerospace and the semiconductor industries also ready for take-off. At the same time, "the energy and pharmaceutical industries will continue to outsource R&D at a growing rate in 2007 followed by the computer and semiconductor industries," said the report. "Overall, about five percent is projected to be outsourced to foreign labs, but the general trend toward this mode of operations is expected to grow."

Real estate and facilities executives looking to enhance their perspective on manufacturing operations may find value in one of the many executive education seminars offered by the University of Michigan’s Ross School of Business in Ann Arbor, voted the No. 1 business school in 2006 by The Wall Street Journal. The course, offered April 9-13 and October 1-5, is called " Leadership in Plant Operations." While nominally focused on those who may be moving up to manage plants, the course’s goals certainly resonate with corporate real estate: It aims to teach students to "align manufacturing and operations with other business functions," "measure performance by financial and non-financial standards" and "quickly and accurately assess a plant, service or operation." The school also offers its Managing in the Global Economy Center of Excellence, whose offerings include "Strategies for Regional Expansion in Asia," to be offered in Hong Kong in November 2007.

The Heritage Foundation’s annually issued Index of Economic Freedom has given Hong Kong the highest overall score, followed by Singapore and Australia. Ranked highest for "business freedom" among the Top 10 is Canada.

McKinsey in January issued a report on how the Gulf States of the Middle East aim to diversify their economies "beyond hydrocarbons." According to the analysis, foreign direct investment into the Gulf Cooperation Council (GCC) states — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates — "rose from just under $2 billion in 2001 to more than $20 billion in 2005 — a trend that will help integrate the GCC’s insular economies into the global economy and provide an additional impetus for reform. Roughly $1 trillion in infrastructure investments are now in the pipeline, and by decade’s end they could total $3 trillion. "You can gain additional daily insights into the region’s project activity through Menaproperty.com, a thorough daily guide to corporate and infrastructure investments in the Middle East and North Africa.

A U.S. Energy Information Agency study this month projected the economic effects of a cap-and-trade system to curb U.S. greenhouse-gas emissions as proposed by senators led by Jeff Bingaman. Percentages below compare the projected level under the cap, in 2030, against the projected level without the cap:

• Change in annual GDP: -0.26%
• Gasoline price increase: 12 cents per gallon (5%)
• Electricity price increase: 0.8 cents per kilowatt hour (11%)
• Heating-oil price increase: 16 cents per gallon (8%)
• Natural-gas price increase: 0.88 cents per million cubic feet (11%)