Chronicles the economic results of a shift in focus from nationalism in Europe to integration. It describes the European Economic Community, its evolution, and its structure, then deals with the origin and nature of the Great Split between the two European trade blocs. It then considers the effects of European integration on U.S. Foreign trade and payments and the profitability of U.S. direct investments in Europe, the advantages and disadvantages of particular countries as bases for U.S. investment, alternative strategies for exploiting European markets, and some distinctive characteristics of European business as compared to American business.