Nationalization and Private Foreign Investment: The Role of Government
The United States is at present creditor to the world. Since the war more than $25 billion has been put into various foreign aid programs. Government loans, military assistance, ECA assistance have combined in a great assault on world problems. Yet, great as has been the government-to-government assistance extended by the United States, and substantial as has been aid given by such organs of American policy as the Export-Import Bank not only to foreign governments but to private business, it is not only conceded but argued by government officials as well as private business that a job remains to be done which cannot be done in this way. For the doing of that job, private enterprise and private capital investment are needed. In testimony on various aspects of the Point IV program over the course of the last year, this necessity has been stressed no less by government than by business witnesses.