Word: chiles
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Dates: during 1960-1969
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...Chile's President Eduardo Frei and Zambia's President Kenneth Kaunda have been friends ever since 1960, when they met at Oxford University for a symposium discussing the problems of underdeveloped countries. Lately the camaraderie has revolved around copper, featuring quiet exchanges of missions across the Atlantic on the possibilities of cooperating, rather than competing, in the metal. Last week Kaunda himself flew to Santiago. At the end of two days of talks, the presidential pair announced heady plans for a copper cartel designed to control the free world market...
...Chile and Zambia account for about 65% of the copper traded on the free world market, and Kaunda and Frei figure that this gives them enough leverage to dictate prices. On the highly speculative London Metal Exchange, the cost of copper this year has ranged from 98? to 44? per lb. Basically, Chile and Zambia want to reduce their vulnerability to copper's wild price fluctuations. The swings have been made especially violent by demand and supply uncertainties resulting from strikes and, not least, the tension between Zambia itself and Rhodesia, which has virtually cut off Zambia...
...disarmament that has so long echoed through the world's major corridors of power was suddenly being taken up last week in, of all places, Latin America-where there has been only one major war in the past 50 years. Ironically, it came from Chile's President Eduardo Frei less than two weeks after his government signed a new $20 million deal for 21 British Hawker
Last year Argentina bought 25 subsonic Douglas A-4B fighters from the U.S. Chile promptly dashed out for more planes and was soon negotiating for the Hawker Hunters. Not to be outdone, Peru last week was discussing purchase of 16 Mach-2.1 English Electric Lightnings and a flock of advanced-model Hawker Hunters. Meantime, Venezuela was suddenly losing its love for its F-86 Sabre jets, which it bought from the U.S. five years ago. So it, too, was dickering-with Sweden for 20 Saab
View from Abroad. Frei wants his reforms for Chile, but he also wants them for the benefit of Latin America, which increasingly looks to the tall, scholarly visionary as a new leader of the Democratic left and a new force that could help pull the Southern Hemisphere tighter together. Frei is already moving in that direction. He is a staunch booster of economic integration. He was among the first to propose a hemispheric summit conference, now tentatively scheduled for next spring. "We have a commitment in Latin America," Frei says. "This makes us proud and binds...