The Administration, which hopes to make private investment abroad a big part of its "Trade, Not Aid" program, got some discouraging news last week from one of the program's most ardent supporters. In a 132-page report, the first installment of a three-part study, the Commerce Department's Office of International Trade tested the climate for U.S. venture capital in the world's major countries and came to a chilling conclusion: "Prospects for a greatly increased flow of U.S. private investment abroad are unfavorable in the next few years."
Everywhere OIT men looked, they saw the same basic obstacles: currency restrictions, freezing of investment...
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