Word: oit
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Everywhere OIT men looked, they saw the same basic obstacles: currency restrictions, freezing of investment capital, discriminatory taxes, competition from government-supported monopolies, and hostility to foreign capital. As long as these conditions prevail, said OIT, "it is not likely that the rate, nature or direction of private investments will be substantially changed." Area by area, the report stated...
...controlled enterprises by discriminatory taxes and labor requirements. Major offender: Argentina, Brazil's liberal treatment of capital is off-set by social ferment and inflationary hazards, and Venezuela has limited attractions outside of oil and mineral resources. "One of the most favorable areas" for U.S. investment, according to OIT, is Mexico...
...Europe, where U.S. investors' stake is approximately $3.5 billion, OIT men found the obstacles to U.S. capital much the same. The United Kingdom, where $847 million in U.S. money is invested, offers "generally satisfactory" conditions. But France is "uninviting" to U.S. money; impoverished Italy, and West Germany with its high taxes and vulnerability to Communist attack, offer few opportunities...
...OIT recommended that the U.S. could do to make it easier for venture capital. But the big job of attracting U.S. capital, OIT implied, is squarely up to the foreign governments themselves. Unless they relax import controls and other obstacles, there is scant hope that they will get much expansion in U.S. investments...
...plan brought a loud squawk from the Department of Commerce's Office of International Trade Operations. OIT, which would have to administer the CPA plan through export-license control, hated the thought of curbing foreign trade at a time when the U.S, was asking the rest of the world to relax trade restrictions. (Commercial exports in May were $649 million, highest since January 1921.) But there had been no boom since OPA's death. If a boom started, OIT could clamp on controls in 24 hours. In effect, CPA was turning on the hose before the fire started...