New investments in the U.S. by overseas businesses fell 49% in 2020.
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China overtook the U.S. as the world’s top destination for new foreign direct investment last year, as the COVID-19 pandemic amplifies an eastward shift in the center of gravity of the global economy.
New investments by overseas businesses into the U.S., which for decades held the No. 1 spot, fell 49% in 2020, according to U.N. figures released Sunday, as the country struggled to curb the spread of the new coronavirus and economic output slumped.
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