Word: chileanization
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Dates: during 1970-1979
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United Nations Conference on Trade and Development (UNCTAD). In all, 3,000 delegates from 142 countries met for five weeks in a new $10 million building, which had been specially put up for them by the nearly broke Chilean government. They listened to 1,120 hours of speeches, mostly impassioned pleas for preferential trade deals and fat increases in foreign aid for developing countries. But they made no real progress. As one weary U.S. delegate explained: "The conference presumes that the U.S. is a giant cow and that there should be a teat for every developing country in the world...
...What UNCTAD lacked in substance it more than made up for in fun and games. The partying was so intense that UNCTAD's founding father, the noted Argentine economist Raul Prebisch, noticeably avoided the meeting, and one Belgian delegate went on a hunger strike in protest. The Chilean government had laid on a cultural program of symphony and folk music, ballet and theater-but had to cancel it after one week because of low attendance...
...projects this year. Marxist President, Salvador Allende Gossens, has been reluctant to move decisively against the squatters for fear of further weakening his already shaky left-wing coalition of support. Last week, a massive protest parade in Santiago by an estimated 400,000 people-the largest street rally in Chilean history-demonstrated that he also faces mounting pressure from the moderate right...
Pinheads. At the same time, Allende has been trying to shore up his country's international credit rating. He has begun to make token payments on some of Chile's obligations to foreign firms, including the Anaconda Co., which last week dropped court-ordered liens against certain Chilean properties-including holdings of LAN-Chile, the state airline-with assets in the U.S. Allende has also paid at least half of the $2.2 million in interest due the Boise Cascade Corp., which owned an electric company that was sold to the Chilean government in 1970. In Paris, no agreement...
...midst of so many problems, the ITT affair (TIME, April 3) strengthened Allende's position at home, and the Chilean Congress launched an investigation into foreign interference in the country's affairs. Presumably, the Congress would not stop Allende from nationalizing ITT's properties in Chile, which include two Sheraton hotels and a cable company. By the hundreds, Chileans were snapping up a little black paperback entitled Documentos Secretos de la ITT (Secret Documents of ITT). For the most part, the government-sponsored book is a straightforward collection of the Jack Anderson memos alleging that ITT officials...