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DOCUMENT RESUME
02244 - [A1452463]
Nationalizations and Expropriations of U.S. Direct Private
Foreign Investment: Problems and Issues. ID-77-9; B-172255. Ray
20, 1977. 59 pp.
Rnport to the Congress; by Elmer B. Staats, Comptroller General.
Issue Area: International Economic and Military Programs: Direct
Investment Capital Flows (606); Materials: International
Policies and Practices (Including Seabed Resources' (1803).
Contact: International Div.
Budget Function: International Affairs: Conduct of Foreign
Affairs (152); International hffairs: International
Financial Programs (155).
Organization Concerned: Department of State; Department of the
Treasury; Department of Commerce; Council on International
Economic Policy; Overseas Private Investment Corp.
Congressional Relevance: House Committee on International
Relations: Senate Committee on Foreign Relations; Congress.
Authority: Foreign Assistance Act of 1961, sec. 620(e) (1), as
amended (22 U.S.C. 2370(e)). Trade Act of 1974, sec.
502(b) (4) (P.L. 93-618). Fishermea's Protective Act of i967,
_ ,t2 ... , Foreign Military Sales Act, as
amended, sec. 3(b) (22 U.S.C. 2753(b) (Sapp. III)). Economic
Cooperation Act of 1948. Muttal Se'curity Act of 1954.
Forqign Assistance Act of 1969. P.L. 92-245. P.L. 92-246.
P.L. 92-247. P.L. 92-138. Executive Order 11844.
The wave of rationalizations and expropriations of
private foreign investments since World War II by the
estibliched, as 4ell as the recently created, countLies of the
developing world has generated serious concern in the
capital-exporting countries. Finding s/Conclusious:
Expropriations and nationalizations of U.S. direct private
foreign investments have increased dramatically since World Par
II because of the adoption of communism or socialism as the
basis of some national governments, especially in Eastern
Europe, and the desires of developing nations to acquire a
firmer grip on their own economic destinies. It has been
virtually impossible to obtain meaningful, complete figures on
the value of expropriated or nationalized U.S. private
investments. Prospects for the success of efforts by several
governments and organizations to Protect private foreign
investments igainst expropriation and nationalizations by
developing countries are inconclusive, mainly because of the
objections of those countries. Some capital-exporting countries
are not willing to join in any unified effort that would appear
to confront the developing worlds, on which they depend for raw
materials and as markets for their exports. Recommendations:
The Secretary of State should initiate a broad-based effort to
negotiate friendship, commerce, and navigation treaties,
emphasizing protection of private foreign investmen3s, with](ViewImageLocal?handle=hein.gao/gaobaacgo0001&div=1&collection=&method=preview&ext=.png&size=3)