Word: cbi
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...political mantras are incanted as reverentially as "free trade" -- and few are ignored as hypocritically in practice. The latest folly involves the Caribbean Basin Initiative, a program begun in 1983 to assist 28 Caribbean and Latin American nations. By most measures, the CBI has failed. Its intelligent premise -- trade, not aid -- has never been fully realized. Pro-protection interests have consistently crippled Latin attempts to sell products in the U.S. on a cost-effective basis. Now Oregon Senator Bob Packwood is leading a charge on behalf of the region's apparel and footwear industries, an effort most everyone believes will...
...sugar quotas bad consumer policy, they are also bad trade policy. The international group concerned with such matters calls the U.S. sugar scheme an unfair trade practice, an ironic finding given Washington's pique at other nations. As foreign policy, the sugar program is an unmitigated disaster. In the CBI nations, where sugar is the most important export commodity after coffee, more than 400,000 jobs have been lost since 1982 because of sugar protectionism, and the CBI's few positive effects have been wiped...
...ousted directors: James Bere, chairman, Borg-Warner; the Rev. Raymond Baumhart, president, Loyola University of Chicago; William Johnson, chairman, 1C Industries; Jewel Lafontant, senior partner in the law firm of Vedder, Price, Kaufman & Kammholz; Robert Malott, chairman, FMC Corp.; Marvin Mitchell, former chairman, CBI Industries; Paul Rizzo, vice chairman, IBM; Thomas Roberts Jr., chairman, DeKalb AgResearch; Elaine Yarrington, former executive vice president, Standard Oil of Indiana. The resigning directors: Weston Christopherson, former chairman, Jewel Cos.; Vernon Loucks Jr., president, Baxter Travenol Laboratories...
Mini indeed. The original Marshall Plan for Western Europe after World War II was fueled by a U.S. contribution of $13.6 billion; that would amount to $50.9 billion today. Yet the initial U.S. price tag for the Caribbean Basin Initiative (CBI) was $350 million, less than seven-tenths of 1% of the Marshall Plan adjusted to 1983 dollars. Only last week did Congress pass a scaled-down portion of the CBI, 17 months after Reagan originally proposed...
...Central America, the main aim of the CBI is to fight Marxist-led subversion and insurgency. But in the 2,000-mile-long sweep of islands that dapple the Caribbean Sea, the problems are very different. The area's twelve sovereign nations, nine of which have become independent since 1961, face poverty, high unemployment, crippling debt and declining income from their few marketable commodities. TIME Caribbean Bureau Chief William McWhirter and Correspondent Bernard Diederich visited much of the archipelago and interviewed its worried leaders. Their report...