Word: brazilianizing
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Carlos Lacerda is a Brazilian liberal democrat, a leading contender for the presidency of his country., and an articulate critic of military authoritarianism...
...this second and last part of an interview conducted at Harvard lat week, Mr. Lacerda comments on his view of contemporary Brazilian politics, their implications for the United State, and his own plans to organize a popular progressive party to return his country to a more democratic tradition...
Last week Alcoa won final government approval of a proposal to spend $56 million building a new aluminum plant. Also last week United Brazilian Minerals, which is 49% owned by Cleveland's Hanna Mining, was granted the right to mine and export iron ore and eventually to manufacture steel, an ambitious $600 million enterprise. The two new projects were only the latest in a spate of similar announcements. Phil lips Petroleum plans to pump in some $60 million, starting with a new fertilizer plant for which ground has already been broken. Union Carbide will expand its operations...
Climate: Favorable. Strongest showing of all is in the Brazilian auto busi ness, among the world's top ten and the country's biggest industrial employer...
...danger of economic denationalization is not entirely imaginary. Cash is so short that most Brazilian businesses could be purchased with dollars for just 40% of their assets, though the government is not likely to allow that to happen often or in any major companies. Nonetheless, foreign capital's share of private industry has been estimated to have increased to as much as 50%. And the national-identity issue is an increasingly emotional rallying point. With his military support, Castello Branco never had to worry about such gripes from the voters; newly elected President Artur da Costa e Silva...