> Reformist efforts to improve the lot of the poor and oppressed, including the encouragement of independent trade unions, are not conducive to a favorable climate of investment. Democracy is clearly not conducive to a favorable business climate... emocratic threats to the interests of foreign investors, such as a Philippines Supreme Court ruling prior to the 1972 coup prohibiting foreigners from owning land... .
https://ia803108.us.archive.org/33/items/WashingtonConnection_201806/Washington%20Connection.pdf
#USAforeignPol #USAinPhilippines #LandReform
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