Leaders of the oil-producing nations, particularly the Arabs, are greatly confused about whether their investment money is really welcome in the U.S. Though many American businessmen say that they want and need to earn back the petrodollars, the Arabs often find that their attempts to invest in U.S. business are blocked. This is particularly the case in banking. Within the past three weeks, adverse local reaction has forced two Arab businessmen to abandon unrelated attempts to gain control of banks in San Jose, Calif., and Pontiac, Mich. (TIME, Feb. 3).* Now, however,...
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