THE CURRENT WAVE OF AMERICAN ENTERPRISE MERGING Hu Guocheng (79) The United States has since 1992 been engaged in a major wave of the merging of its enterprises, the fifth and the biggest ever in the American annals of economic growth. In the current wave, many firms merge themselves with others with their own net assets and in a very friendly way, more often than not ignoring the investment banks. Among the numerous key factors that work to push ahead the wave are the ever intensive international market competition and the relaxed control over the economy by the federal government. Though the merging is conducive to the development of the firms in question and the economy as a whole, it has its won latent risks especially when it is driven by the irrational motive of profit seeking.