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Prepared by the United Nations Conference on Trade and Development (UNCTAD), the World Investment Report 1998 (WIR98) provides an analysis of current trends at the global and regional levels in Foreign Direct Investment (FDI) and international production by transnational corporations (TNCs). It discusses specific issues related to the role and impact of FDI in various parts of the world, including, among others, the implications of the recent financial crisis in Asia for FDI, in and by, the affected countries and other economies. The Report also reviews the locational determinants of flows of FDI to host countries and examines the evolving nature of those determinants as TNCs adjust their strategies to the changing global economic environment and increased competitive pressures.