Riches Among the Ruins: Adventures in the Dark Corners of the Global Economy

256 Pages·2009·0.75 MB·English

by  Robert P. Smith

R I C H E S A M O N G T H E R U I N S
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RICHES AMONG THE RUINS
Adventures in the Dark Corners of the Global Economy
ROBERT P. SMITH
with Peter Zheutlin
AMERICAN MANAGEMENT ASSOCIATION
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LibraryofCongressCataloging-in-PublicationData
Smith,RobertP.,1940–
Richesamongtheruins:adventuresinthedarkcornersoftheglobaleconomy/Robert
P.SmithwithPeterZheutlin.
p. cm.
Includesindex.
ISBN-13:978-0-8144-1060-8
ISBN-10:0-8144-1060-X
1.Investments,Foreign—Developingcountries. 2.Debts,External—Developing
countries. I.Zheutlin,Peter. II.Title.
HG5993.S65 2009
332.67(cid:2)3091724—dc22
2008035289
(cid:2)2009RobertP.Smith
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PrintedintheUnitedStatesofAmerica.
Thispublicationmaynotbereproduced,storedinaretrievalsystem,ortransmittedin
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AmericanManagementAssociation,1601Broadway,NewYork,NY10019.
Printingnumber
10 9 8 7 6 5 4 3 2 1
Inmemoryofmy parents,DavidSaulandFriedaM.Smith,
andmyuncle, HoratioMikels,
whosegiftofhisstampcollectionwhenIwaselevenyears old
inspiredmythirstforadventure.
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C O N T E N T S
AUTHOR’S NOTE, ix
CHAPTER 1
EL SALVADOR
Bullets,Bombs,andBonds,1
CHAPTER 2
VIETNAM
TheEarlyEducationofanEconomicWarrior,44
CHAPTER 3
TURKEY
SellingtheLetter‘‘M’’for aCoolHalfMillion, 69
CHAPTER 4
GUATEMALA/PANAMA
RiskyBusiness,103
CHAPTER 5
NIGERIA
Promises, Promises,126
vii
viii Contents
CHAPTER 6
RUSSIA
BoomtoBustandBack,149
CHAPTER 7
IRAQ
MissionNotAccomplished,186
CHAPTER 8
AMERICAN TWILIGHT,
215
ACKNOWLEDGMENTS, 233
INDEX, 237
ABOUT THE AUTHOR, 243
’
A U T H O R S N O T E
MANY OF THE NAMES of individuals and institutions in this
book have been changed, but all the individuals and institutions de-
scribedarereal.Whereapseudonymwasused,itisinquotesthefirst
time itappearsinthetext.
ix