BRAZIL: Partnership

The trip had gone over big; U.S. Treasury Secretary John Snyder liked Brazil and Brazil liked him. He had come to talk business in a country where U.S. investments of $611,000,000 are second only to Britain's. He had a chance to see, in a plant such as Volta Redonda (steel), the sort of thing for which the U.S. had put up Export-Import cash. When he talked, he talked straight. Brazilians ate it up.

"I never think of the U.S. as the richest country in the world," said Snyder, "but as the country that has the greatest internal debt." Brazilians had...

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