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Article: Investing in the heart of Europe. (foreign investment in central Europe)(includes related article on Hungarian-American financier George Soros)
- Article from:
- Europe
- Article date:
- November 1, 1993
- Author:
CopyrightCOPYRIGHT 1993 Delegation of the European Commission. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In 1990, Mark Palmer, a former US Ambassador in Budapest, foresaw a wave of foreign investment and early prosperity in post-communist Central Europe. "If you stand in the lobby of the Forum Hotel," he gushed, "you're lucky not to get knocked down. The gold rush is on in Hungary!"
Three years later Westerners still crowd hotel lobbies, but they're as likely to be tourists or consultants as business people closing deals. And while a few of them have struck gold, most have not. The transformation has been deeper and longer than expected. Four years after the collapse of the Berlin Wall, the mother lode of rapid growth and Western-style living standards is as elusive ...
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