Word: brazil
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Dates: during 1960-1969
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After Leftist Joao Goulart was deposed last March, Brazil's new government declared all-out war on three items that had become Goulart's trademark: Communism, corruption and inflation. By last week President Humberto Castello Branco and his revolutionaries had dealt forcibly with the first two. Inflation is proving far more difficult. Nowhere in Latin America is inflation so deeply and strongly rooted -until it has become as much a part of Brazil as carnival and the inky cafè-zinho Brazilians sip at corner coffee bars...
Special Alliance. In Brazil, the last and greatest nation on his tour, De Gaulle had waxed loftier and more Delphic than ever. He spoke of the traditional bonds between the two countries, and then, alluding to some dark and distant Armageddon, cried: "I greet the Brazilian army as the ally, if need be, of the French forces, whatever may befall us. There will always be between us, I am sure, a special alliance." There were more immediate matters to discuss. The Brazilians having promised to compensate the former French owners of the Sāo Paulo-Rio Grande railroad nationalized...
Papered with Money. Many economists argue that a little inflation is healthy in a young nation, stimulating investment, production and growth. In Brazil, where everything is larger than life, the theory got out of hand. Ever since World War II, successive governments have felt a compulsion to build by spending wildly-and to pay their bills by printing more money. As President in 1956-61, Juscelino Kubitschek performed prodiies of development: a new inland capital of Brasiília, a vast network of roads, thriving new steel and auto industries, all at a cost of giddy inflation and staggering debt...
After six months of housecleaning, Brazil's revolutionary government last week gave up its power to purge-just as President Humberto Castello Branco had promised it would. The bristles in Castello Branco's broom were two articles in the sweeping Institutional Act decreed by the revolutionaries after they deposed leftist President João Goulart last April. Under Article 10, which was in effect for two months, the government could revoke for ten years the political rights of anyone judged guilty of subversion or corruption; under Article 7, lasting six months, it could fire or retire any government...
...last year, and the Bank of Tokyo of California recently started its eighth and ninth branches. In Manhattan, the international banking center, the British have opened four major branches, the Swiss three, the French and Israelis two each, and the Italians, Dutch, Lebanese and Pakistanis one apiece. Last month Brazil's Banco da Lavoura de Minas Gerais opened up in Manhattan, and last week the Bank of Tokyo Trust Co. opened newly expanded offices as kimono-clad Japanese girls served raw fish and Suntory whisky to customers...