At a gathering of the free world's Finance Ministers in Washington last week, U.S. Treasury Secretary George M. Humphrey offered some sound advice on how underdeveloped countries can attract private investments from the U.S. He also made clear that U.S. businessmen have done a much better job of sending capital abroad than most foreign critics realize.
At the end of 1953, said Humphrey, the "U.S. had a whopping $23.7 billion of private capital invested in foreign countries, and much of the profit (about $1.5 billion yearly) is being plowed back in. Moreover, said Humphrey, investments are still...
To continue reading:
or
Log-In
