Magazine content is available exclusively for TIME subscribers.Business: New Program for More Help & Less Aid
FOREIGN INVESTMENT
ABROAD new U.S. foreign-investment program is taking form in Washington. Even as fresh opposition to the foreign aid and reciprocal trade programs showed itself in Congress (see NATIONAL AFFAIRS), the State Department was busy last week on a program that every businessman and Congressman could support. The aims: 1) get other countries to shoulder more of the development burden now borne by U.S. foreign aid; 2) shift from giveaway aid programs to revolving loans; 3) encourage private investment and sound fiscal and monetary policies in countries that now dissipate U.S. help by bad housekeeping.
The program's chief architect is C. Douglas...
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