This week's excerpt from The Facts About Modern Manufacturing: Foreign firms operating their U.S. subsidiaries are important players in the domestic market. Sometimes they mitigate the vagaries of a business cycle. In the past decade and a half, employment in all manufacturing companies plunged 33%. During the same time, payrolls in foreign subsidiaries dipped barely 10%, and they rose in the two years preceding the Great Recession, easing the overall pain. Manufacturing Facts

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