Moral disapproval is rarely an effective force in international business. Opponents of South Africa's white supremacy policies are discovering the validity of this old truism. Three years ago, when Jamaica launched a boycott of South African goods which was eventually joined by 17 other African, Asian and West Indian countries, South Africa's exporters were badly worried. A year later, after South Africa left the Commonwealth in high dudgeon, foreign investors began to pull capital out of the country at such a rate that foreign reserves sank to an anemic $15 million, and...
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