Word: argentina
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...armed forces in the past six years v. $1.6 billion for all public works and development programs. The refurbished carrier Minas Gerais (once H.M.S. Vengeance) will cost $36 million, enough to pave 3,900 miles of highway-and Brazil has no naval air arm to put aboard her. Argentina has spent $1 billion on defense since 1954. "Every time Ecuador buys armaments," notes Peruvian Foreign Minister Raul Porras, "we buy as much or more"; yet General Antonio Luna Ferreccio retorts for the brass: "Peru cannot be more disarmed...
...proof of the Frondizi policy pours in, nationalistic outcries have died. Oil imports, which caused a crippling trade deficit, dropped from $280 million in 1957 to $174 million this year, and will cease in 1961. As befits a nation ranking twelfth in the world in proven oil reserves, Argentina plans to be selling a yearly 25 million bbl. of petroleum abroad...
Norway and Holland were largely interested in solving import-export problems, and used the new system along with their national income accounts to see what effect a shift in the trade balance would have on industry. Several South American nations, including Argentina, Peru, Chile, and Equador are also using Leontief's device. Great Britain has employed it for several years...
...Brazil, 23 of the 56 top stocks on the Rio and São Paulo exchanges are joint ventures. Japanese interests hold 40% of the USIMINAS steel plant (annual capacity: 500,000 tons), U.S., Canadian, French and Israeli interests are partners with Brazilians in seven cement plants. In Argentina, Kaiser Industries, which makes 2,500 vehicles a month, is owned 51% by Argentine stockholders, 16% by the Argentine Air Force, 33% by the U.S. parent firm...
...Holland's industrial export income by turning out scores of products including Christmas tree lights, Norelco electric shavers, television sets, super-powered electron microscopes, hospital equipment and musical recordings. At the drop of an order, the company can overhaul a complete national telephone system, as it did for Argentina, build a 160 million-volt cyclotron, as it did for the University of Paris, or light and wire for sound the Acropolis in Athens...