THE 30 members of the OECD made foreign direct investments (FDI) worth $1.12 trillion last year, 29% more than in 2005 and more than in any year since 2000. France was the second-biggest investor, thanks to a number of big mergers and acquisitions, including Alcatel's purchase of Lucent in America. Over the ten years to 2006, the rich club's members have made direct investments worth over $8 trillion outside their borders. America was the biggest source of money, investing a total of $1.58 trillion. But Belgium and Luxembourg, popular bases for holding companies and special-purpose vehicles, together come second.

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