Word: gracefully
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Dates: during 1950-1959
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...some time, U.S. policymakers have taken the position that on major questions of war and peace, duly discussed, the allied nations' only sense-making course is bound into the course set by the U.S. Some leaders in allied lands have received this position with bad grace, preferring to imply that their security does not necessarily depend on the U.S. Last week, ministers of two British Commonwealth nations left no doubt about their stand...
...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 other major area," he said, and the region's buying power is zooming. Example: when Sears, Roebuck opened in Mexico City, "some people thought that potential customers would be limited to the upper 5% or 10% of the city's population. Actually, the customers that Sears has developed represent a cross section of at least the upper...
...challenge for U.S. capital (which already adds up to a fat $6 billion in Latin America) is to build the plants to supply this expanding market. As a hint of the high earnings that are possible, Grace cited the interest on commercial bank loans that businessmen in Latin America are willing and able to pay: Brazil, 9%-12%; Peru, 9%-10%; Mexico 9½% (v. an average 3% in the U.S.). And he neatly disposed of the standard objections to investing in Latin America...
...Said Grace: "More and more Latin Americans want better homes to live in, better clothes to wear, better food to eat, better medicine ... I think you investment bankers have a tremendous opportunity to get in on the ground floor of this new area of expansion...