Word: copperizing
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...that need time and technology, rather than massive foreign aid, to build modern, developed economies. The nations in this category include the revenue-rich members of OPEC (Organization of Oil Exporting Countries), as well as states whose development may be guaranteed by other key natural resources: Zaire and Zambia (copper), Morocco (phosphates), Malaysia (tin, rubber and timber). Into this group also fall nations like Taiwan, Singapore, South Korea, Mexico and Brazil, which are developed enough to attract foreign investment and borrow on commercial terms...
...states, OPEC has been able to deflect responsibility for the disastrous impact of higher oil prices. Many underdeveloped countries, moreover, have been actively trying to create OPEC-like cartels in order to increase profits on their own commodity exports. While bauxite exporters have been able to hike their prices, copper producers have...
...documents it requested from the CIA and the State Department were not released, and those released were heavily censored. Furthermore, the division the Church Committee makes between the activities of American corporations and those of the CIA is misleading, since most of the companies involved--ITT, Pepsi-Cola, Anaconda Copper--have a long history of involvement with the CIA, providing cover jobs for agents in return for CIA defense of their interests abroad...
...however, faces some unpleasant economic problems, largely because the price of copper - which provides 60% of the country's foreign exchange - has dropped from $1.24 per lb. to 55? in the past 18 months. As a result, Zaire has already defaulted on several million dollars in loans, and millions more in obligations are falling due soon. Algeria has threatened to cut off all oil supplies unless Zaïre pays $20 million in overdue bills. Meanwhile, Le Guide has been spending neither wisely nor well. He shelled out $11 million to sponsor the Ali-Foreman fight...
...winter of 1973-74, when OPEC was inflicting the maximum pain on the oil-consuming world, all the South American nations except Venezuela and Ecuador were also hurt. But they were full of heady visions of "other OPECs" that could force the rich North to pay much more for copper, bauxite, coffee, etc. Then the weakening of world demand knocked down raw materials prices; copper fell from $1.50 to 500 per lb., and Peru and Chile now say the industrial world is "exporting its recession." There is still very little interest in South America in the whole subject...