Yanking The Welcome Mat In Argentina

Foreign investors are getting burned in Argentina's provinces

Under President Carlos Menem, Argentina has rolled out the welcome mat for foreign investors. From U.S. financier George Soros, who has picked up farmland and commercial real estate, to auto makers such as Ford, Fiat, and Toyota, foreigners have sunk nearly $11 billion into Argentina in the past two years alone and are expected to spend $6 billion more in 1998. But while Argentina is trying to attract foreign investors, some of its provinces are turning downright hostile to outsiders and their cash.

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