Some 14 years after pressing for the United Nations to impose sanctions on Belgrade, the United States has become Serbia and Montenegro's biggest foreign investor. The World Bank says American firms accounted for roughly one-third of the US$3.5 billion of foreign money invested from 2002, when the sanctions were eventually lifted, to the end of 2004. Although one or two million people of Serbian descent live in the US, émigré ties to the homeland have played little role in driving this investment. The US-based Serbian Unity Congress and Serbian American Chamber of Commerce periodically organize conferences and inform investors of...