THE AMERICAS: Challenge & Opportunity

"Business is much more profitable in Latin America than in the United States," a qualified U.S. authority, Joseph Peter Grace Jr., last week told investment bankers from all over the Midwest. Facing 432 of them at a conference in Chicago's Drake Hotel, the president of W. R. Grace & Co. spoke out eloquently on the opportunities for U.S. private capital in the southern lands where his grandfather started the family firm.*

South of the border, Peter Grace explained, lies the world's fastest growing market. "Latin America's population increase of about 2½% a year is greater than that of any...

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