The Hemisphere: Misconception Set Straight

One of the noisiest charges leveled against the U.S. by Latin America's Communists (see below) and rabid nationalists is that Yankee capital is used to exploit rather than assist underdeveloped nations. Last week Under Secretary of State C. Douglas Dillon traveled to Puerto Rico to cite the facts. Said Dillon, speaking to a conference of hemisphere economists, educators and government officials : "Instead of extracting wealth, U.S. firms are creating new wealth for host countries." Items:

¶ Private capital investment in Latin America now totals $9 billion more than the U.S. businessman has invested anywhere in the world except Canada,

¶ Taxes...

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