Let's Make A Deal But A Smaller OneBy
It was dubbed the Soviet deal of the decade. Six U.S. companies planned to invest billions of dollars in up to two dozen joint ventures in the Soviet Union. In return, a complicated scheme would allow them to repatriate profits in hard currency. When the American Trade Consortium signed its initial agreement with the Soviets in the spring of 1989, it was blessed personally by Soviet President Mikhail Gorbachev.
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