Word: brazil
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Dates: during 1960-1969
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...longer the same cold war, in which everyone knew the rules. While the basic issues of that war remain, and the U.S. denies that there is a real detente, the pressures that bound free nations together for mutual self-protection no longer seem so great. Says Brazil's Foreign Minister Joao Augusto de Araujo Castro, whose own nation has caused the U.S. any number of headaches: "With the marked relaxation in world af fairs, the rules of the international game are changing-no doubt...
...Thant formally requested troops from Canada, Sweden, Finland, Ireland, Austria and Brazil, and the U.S. is expected to handle the logistics of getting the troops to Cyprus. He also named India's Lieut. General Prem Singh Gyani as commander of the U.N. peace-keeping force. Already in Cyprus as a U.N. observer, Gyani changed from civilian clothes to a resplendent uniform topped by a blue beret. His record as commander of the U.N. Emergency Force in the Middle East was faultless, and he has also served the U.N. in Yemen. As mediator, U Thant submitted the name of Guatemala...
Adjusting Prices. Business in Brazil has been turned into a dangerous and complicated gamble by runaway inflation, which has been accelerated by reckless government spending, constant labor demands for more money, and restrictive laws that force foreign companies to plow back their profits into the Brazilian economy. Between the time a businessman bids for an order and delivers the goods, he does not know how much the cost of the materials will rise, how high the workers' wages will climb, how much his financing charges will increase, or even if his customer will be able...
...When I came here four years ago," says William O. Kelleher, president of Sears, Roebuck in Brazil, "we were selling a 7-cu.-ft. refrigerator for 49,000 cruzeiros. Today that same refrigerator sells for 227,000." Coca-Cola raised its prices three times in 1963. General Electric writes a clause into its sales contracts that allows for adjustments in the delivery price to compensate for inflation, and IBM does the same in its computer-rental contracts...
...paying, because their wages are rising faster than prices; thus, as each inflationary month passes, the bills in effect become smaller. Among the slowest payers: the Brazilian government, which seldom honors its bills promptly; last week the U.S. and five other nations agreed to ease the burden of Brazil's $3 billion debt by stretching out payment schedules. Businessmen are finding it difficult even to keep on hand enough cash to carry on. Willys of Brazil complains that many of its auto dealers are losing more money through inflation than they are able to make on their auto sales...