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The Business Diplomats |
| Section: CURRENT ISSUES / ANALYSIS |
| Author: Elizabeth Guia |
| Publication: The world & I online |
| Issue Date: 2/1/1996 |
| Size: 2,213 Words, 18,277 Characters |
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Some 20 years earlier, New Delhi had bullied two multinational corporations, Coca-Cola and IBM, pressuring the soft-drink maker to reveal its prized secret formula and IBM to reduce its equity in its local manufacturing operations to 40 percent. When the two firms refused, the government gave them no recourse but to sell their assets and ignominiously leave the country.vbcrlf Because of these incidents, corporations greeted New Delhi's 1991 overtures with deep suspicion. So, to persuade potential investors to come back, the Indian government was forced to draw up binding bilateral agreements with Britain, the United States, and other countries, pledging to guarantee protection to foreign investors.vbcrlf &nbs...
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...ndustrialized markets become saturated with goods and services, corporations locked in competition will naturally hawk their wares ever more vigorously to the nations of the world.vbcrlf Thus, the crucial "business diplomats" will continue their unwitting work for prosperity and peace in the shadow of their more celebrated embassy counterparts. vbcrlf
(800 of 18,277 characters)
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