Direct Investment Update: Trends in International Direct Investmen t. Staff Report (Washington, D.C., September 1989) . .ii Foreign Direct Investment, the Service Sector and Interna\;.io1~~J .JLankil!.9· Current Studies, Series A, No. 7 (United Nations publication , Sales No. E.87.II.A.15), p. 5. 2/ United States Department of Commerce, Survey o~rent Buliin~§~ (Washington, D.C., August 1989), p. 69. (Adjusted for the NetherJancls l\nti.L.les' finance (except banking), insurance and real estate section.) fll "Recent developments related to transnational corporations aucl international economic relations: report of the Secretc1ry Genei:aJ" (E/C,10/1989/2), 25 January 1989, pp. 14-18. ]_/ InternatiQ .m~l Direct Investment, op. cit., p. 77: and Amy Borr us, "Slowly but surely, the United States is buying into Japan", I!..!!§.iness week, (H December 1988). I ••• E/C.10/1990/5 English Page 26 Notes (continued) !l_/ For example, the Primary Dealers subtitle of the United States Omnibus Trade and Competitiveness Act of 1988 used reciprocity demands to force an opening of Japan's bond market to foreign firms. See also Monica Langley, "Trade bill conferees agree on limits for foreign dealers in U.S. securities" The WaH $.!:Jeet. .J.Q.Y..rnal ( 31 March 1988); and Michael Sesit and J. Terence Gallagher, "Japan unveils new measures to widen foreign role in government bond mart" (7 September 1988) . . 2./ Transnational Corporations ... , op. cit., p. 57; and Raymond Vernon, "The product life cycle in a new international environment", in The Cont~l!!QQr 2rY. International Economy, John Adams, ed. (New York, St. Martins Press, 1985), pp. 408-422. 10/ Transnational Corporations •.• , op. cit., p. 80. 11/ The "convergence club" idea is adopted in application from the concept outlined in Technology and the American Economic Transition: Choices forth~ Future, Office of Technology Assessment, Congress of the United States (Washington, D.C., May 1988), p. 287. Ill Transnational Corporations ••• , op. cit., pp. 33-40. 
**Analysis**
The text appears to be discussing trends and developments related to international direct investment, transnational corporations, and their impact on international economic relations. It mentions specific examples of trade agreements and market openings, as well as the concept of "convergence clubs" in the context of technology and economic development. Based on this content, it seems likely that the text is focused on economic development and international trade.

**Category**
International trade, Industry