Instead of curtailing their foreign investments as a result of President Johnson's call for a "voluntary" downhold on dollar outflow, American business men are expanding faster than ever overseas. They have indeed improved the nation's balance of payments by cutting back U.S. bank loans to foreigners and repatriating more profits from ventures abroad. But they will in crease their foreign investments by 20% this year, spending a record $7.4 billion, about half of it in highly developed and competitive Western Europe. The bulk of these investments will not damage the U.S....
To continue reading:
or
Log-In
