2.5 per cent of the TNCs have reduced their equity interests in companies, and 16, or 1.3 per cent, of them are in the process of disposing of their equity interests. Among the major countries, the United States has disinvested almost 62 per cent, the United Kingdom 31 per cent and the Federal Republic of Germany about 22 per cent. Canada has pulled out 31 out of 39 companies, or 80 per cent, Australia 70 per cent, Sweden 59 per cent, Netherlands 45 per cent, France 42 per cent and Switzerland 14 per cent. Finland, Ireland and Norway withdrew their investments in toto. although their presence in South Africa was relatively small. On the other hand, Portugal, Spain and Luxembourg, each having only one company in South Africa, have not disinvested at all. The statistical account of disinvestments is impressive, but central to the debate over disinvestment is the extent and nature of non-equity relations that a foreign corporation retains after it has sold its equity position in a South African subsidiary or affiliate. 17. It should be pointed out here that restrictions on direct investments in South Africa through laws and decrees are the most common economic measures taken by Governments in the area of direct equity investments. A typical feature of most of these laws is that they permit existing levels of investment, but prohibit further investment through the new infusion or transfer of capital, or expansion of activities. The Nordic countries as far back as 1978 had enacted relevant legislation which has since been superseded by more advanced measures that they implemented subsequently. For example, Sweden's ban on new investments went into effect on 1 July 1985. It defined new investments in a fairly rigorous manner by including leasing of capital equipment, but allowing exceptions for new investments in "training, health 
**Analysis**
The text discusses the disinvestment of Transnational Corporations (TNCs) in South Africa, highlighting the extent and nature of non-equity relations that foreign corporations retain after selling their equity positions. It also mentions laws and decrees restricting direct investments in South Africa. Given the focus on corporate disinvestment and economic measures, it appears that the text is related to economic issues.

**Category**
International trade, Industry