Word: apartheid
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...arouses emotions only among antitrust lawyers. But as applied to U.S. relations with South Africa, it has set off one of the most passionate and confused debates since the Viet Nam War. The issues: Should American companies be pressured to sell or close their operations in the land of apartheid? And should U.S. universities, pension funds, local governments and other groups dump their stock in companies that refuse...
Officially, the Reagan Administration clings to its policy of "constructive engagement," essentially the application of friendly pressure on South Africa to end apartheid. But one State Department official asserts bluntly that relations with South Africa right now "are lousy." Washington last month called home Ambassador Herman Nickel "for consultations" as a sign of displeasure with the government in Pretoria. Some White House aides have hinted that they will work in House-Senate conference for a sanctions measure mild enough to win President Reagan's reluctant consent...
Even Reagan's signature on a sanctions law, however, would not end the debate. For one thing, the Senate bill threatens further sanctions, including a House-style ban on all new investment, to be voted on in 18 months if President Reagan judges that the progress toward breaking down apartheid is still inadequate. For another, nothing in prospect seems likely to still the clamor of those advocating a complete U.S. economic pull-out from South Africa. That clamor is apt to grow in the fall as students return to university campuses for a new semester and, probably, new demonstrations...
Those demonstrations are bound to be fueled by continuing images of the unrest that has gripped South Africa for the past ten months, ever since militant opposition to the government's apartheid policy began taking root in the black townships. During that period, more than 400 blacks have died, some at the hands of police, others in a struggle between rival black factions, still others because of suspected loyalty to the white authorities...
Opponents argue that stock divestiture might salve the consciences of many Americans but would do nothing to help South African blacks. On the contrary, it might only transfer large blocks of corporate ownership from investors who are dedicated enemies of apartheid, and most responsive to a crusade against it, to others who would buy the divested stock for strictly financial reasons. Harvard President Derek Bok argues that advocates of stock divestiture are "counseling us to run from evil rather than work to overcome it." Harvard's policy is to use its $565 million worth of stock in companies that operate...