US companies are finding the going tough when it comes to winning contracts. They are being outmanoeuvred by other companies who offer bribes to secure the deals.
In fact, the situation is so bad that the Commerce Secretary, Mr Mickey Kantor, says American companies have lost £20 billion worth of contracts this year alone.
He said corruption in trade and government procurement around the world had worsened, with companies offering illicit payments winning 80 per cent of their bids.
An incensed Mr Kantor said that business newspapers and magazines almost read like "police blotters" at times.
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