THE UNITED STATES HAS always been concerned about and given support to U.S. private interests operating within Latin America. Proponents of this U.S. policy have argued that it serves the Latin American interest by contributing to regional growth. President Kennedy argued in its defense:
The effective participation of an enlightened U.S. businessman, especially in partnership with private interests in the developing country, brings not only his investment, but his technological and management skills into the process of development. His successful participation in turn helps create that climate of confidence which is so critical in attracting and holding vital external and internal capital.1.
The U.S. view is not shared by all Latin Americans, on either economic or political grounds. Many Latin American governments are willing to sacrifice some national economic growth and restrict foreign capital in order to assert greater control over their own affairs. Past experience and present nationalism have prompted the Latin American republics in their search for foreign private investment to accept it only on their own terms.____________________
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Publication information: Book title: Latin American Economic Integration and U.S. Policy. Contributors: Joseph Grunwald - Author, Miguel S. Wionczek - Author, Martin Carnoy - Author. Publisher: Brookings Institution. Place of publication: Washington. Publication year: 1972. Page number: 108.
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