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60 Colum. L. Rev. 780 (1960)
Antitrust Law and Joint International Business Ventures in Economically Underdeveloped Countries

handle is hein.journals/clr60 and id is 808 raw text is: ANTITRUST LAW AND JOINT INTERNATIONAL BUSINESS VENTURES IN ECONOMICALLY UNDERDEVELOPED COUNTRIES WOLFGANG G. FRIEDMANN* In recent years, Congressmen, policy makers, and leaders of public opinion have become increasingly aware of the vital importance of the role to be played by the United States in the economic development of the less developed countries in Asia, Africa, and Latin America. The qualitative and quantitative magnitude of the problem increases almost daily as more and more formerly politically dependent or economically retarded nations and tribes attain statehood and political sovereignty and, with these, almost inevitably, develop ambitions of industrialization. The economically and tech- nologically developed nations of Western Europe and, increasingly, the Soviet Union and Communist China seek a major share in this economic revolution of the underprivileged, all with a mixture of economic and political motiva- tions. To take a prominent part in this evolution is not only humanitarian and economically desirable, but it is also a political necessity for the United States. Such countries as the Soviet Union and Communist China consider their foreign operations as an integral part of their foreign policy, for, directly or indirectly, it is the State that builds Indian steel mills or Egyptian dams or exploits African mines. However, the Western world, and most particularly the United States, prefers to leave foreign economic investments predomi- nantly to private enterprise, though it would be chimerical to ignore the indispensable role of government in foreign investment. Such institutions as the United States Export-Import Bank, the Development Loan Fund, and the International Cooperation Administration testify to the importance of governmental activity in this field. So do the World Bank, the International Finance Corporation, the Inter-American Development Bank, and other inter- national institutions in the process of formation, to all of which the United States contributes a major share of capital and political influence. Neverthe- less, it is most important that the actual entrepreneurial activities abroad * Professor of Law, Columbia University. Except 'for the introductory paragraphs, this Article will be published in a forthcoming book on Joint International Business Ventures in Less Developed Countries, the result of a four-year Columbia University research project, which was undertaken with a grant from the Ford Foundation and directed by the writer of this article. The author and the editors wish to thank the Coulmbia University Press-the publishers of the forthcoming book-for their consent to the prepublication of the present article. The author also wishes to acknowledge his indebted- ness to Professor Kingman Brewster, Jr., Mr. G. W. Haight, and Mr. T. E. Monaghan, for helpful comments on an earlier draft of this manuscript. These comments do not in any way imply agreement with the statements and views put forward in the Article.

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