Business: GOVERNMENTS v. BUSINESS ABROAD

The growth of government power over the private economy is a reality that businessmen have to cope with in many nations. Last week, in different ways, three disparate governments expressed and expanded their influence. Their actions upset some plans and led to new alignments of power.

Peru: Oilfields Seized

When International Petroleum Co., a subsidiary of Standard Oil (N.J.), agreed to turn over its La Brea y Pariñas oilfields to the Peruvian government two months ago, it appeared to be assuaging one of the deepest grievances of Peru's nationalists. As things turned out,...