Word: brazilian
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President Joao Goulart has just signed a decree doubling the monthly minimum wage for urban Brazilian workers to 42,000 cruzeiros, which is $68 on the official exchange rate and about $30 in actual buying power. The workers are glad to get the cash they need to chase rising prices, but the new move adds just another episode to the nightmare that businessmen must endure to survive in Brazil. Says William Jones, general manager of Remington Rand in Brazil: "Every executive here should read Through the Looking Glass at least once each week-especially that part where Alice is told...
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...
Brazil's Congress took up the case. A congressional committee sat for 40 hours, listened to 15 witnesses and collected another 600 documents. Said one Brazilian Deputy: "A complete reorganization of Petrobras is necessary...
Another floor speaker questioned Dean Miller's idea of "dislocation from nature." He said that in his work with primitive Brazilian Indians, he had found them quite unconscious of nature...
...Brazilian studying Latin American economics, I congratulate you on your fine cover story on Mr. Mann [Jan. 31]. Finally the U.S. State Department has an effectual person who realizes the necessity for a diversified policy for Latin America. To quote the Chilean poetess Gabriela Mistral, "The only thing that keeps Latin America united is its unified fear...