Word: brazil
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Dates: during 1950-1959
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Such big Eastern firms as Ebasco, Raymond Concrete Pile, Merritt-Chapman & Scott, Stone & Webster are building air bases in France and Spain, powerhouses in Greece, a dam in Japan, electric plants in Bombay, Brazil and the Dominican Republic, oil refineries in England, Italy, and Australia, paper mills for Israel, roads through the Belgian Congo, and a new harbor at Auckland...
...them to concentrate on production of raw materials for U.S. industry. Hotchkis answered that of the $441 million invested by U.S. citizens in Latin America in 1951, half went into manufacturing industries. He reeled off a list of U.S. industrial investments in Latin America, from tires and chemicals in Brazil to glass and textiles in Chile. The U.S. Export-Import Bank, he added, has made loans to Brazilians and Chileans for steel and textile mills, to Mexicans for steel mills and chemical plants. U.S. experts have shown Cubans how to grow and process kenaf fiber, starting a whole new textile...
Looking Forward. With German trade in Latin America already running at a rate of nearly $500 million a year, Chile, Argentina, Uruguay and Brazil are now so far in debt to Bonn that Erhard was not interested at the moment in signing new trade agreements. The only bargain he proposed in Santiago provided for the restoration of the Bayer and Merck drug properties, seized in World War II. But Erhard had bigger matters in mind. West Germany's continued progress, he said, requires wider foreign business, and Latin America, rich in raw materials and poor in machinery and manufactured...
...Mexico Erhard discussed building a new steel mill for his hosts in Durango; newspapers reported that Alfred Krupp was on his way to the country to confer about new industrial plants. In Peru, Erhard helped inaugurate a new steel tubing mill equipped with German machinery. In Brazil, where a German steel tube plant is going up in Minas Gerais and a Volkswagen assembly plant is to be started in June, a $142 million trade treaty with Bonn provides that $50 million of German goods will be used this year in Brazilian undertakings...
...government controls that restrict sterling transaction?. Since the war, there have been two major classes of sterling owned by residents outside the sterling and dollar areas: "transferable-account" sterling held by residents of 18 nations such as Italy, Holland and Russia; "bilateral-account" sterling in 24 nations such as Brazil, France, Belgium and Japan. Residents of transferable-account nations could not spend their sterling in bilateral-account nations, and residents of bilateral-account nations could not even^use their sterling among themselves without permission from Britain. Butler last week merged both classes of sterling and allowed them to be used...