Brazil's leftists and ultranationalists make it an article of faith that foreign investors take more money out of Brazil in profits than they put into the country. This myth persists despite a recent Brazilian law that prohibits overseas profits remittances of more than 10% of invested capital; in practice, actual remittances average only about 2.7%. But the attacks run on, noisily spearheaded by President Joao Goulart's leftist, demagogic brother-in-law, Leonel Brizola. Last week outspoken U.S. Ambassador Lincoln Gordon went before 600 U.S. and Brazilian businessmen in Sao Paulo to answer what he called the "big lie." The...
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