Word: copperizing
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Nothing escapes the surge of inflation-certainly not money. Who could have predicted that the lowly copper penny would one day be priced out of the market? Alas, that day is at hand, and the Senate last week passed a bill, proposed by the Department of the Treasury, that would allow production of a new penny made of 96% aluminum alloy. The Treasury's problem: the copper used in minting billions of pennies annually is growing prohibitively expensive. Last January, the world price of copper was 50? per Ib. Now the price is more than...
...annual Papua v. New Guinea soccer match. On the island of Bougainville, which is part of the new nation, there is a growing feeling that the islanders should get a greater share of the $150 million in profits expected this year from an immense Australian-operated copper mine...
...there are grounds for optimism. Australian High Commissioner Leslie W. Johnson points out that because of its fractionalization, no single tribe dominates even one region. The new nation has a good Australian-trained police and an army recruited from all over the country. Already an exporter of copper and gold, the country is rich in other minerals and may even have oil. Japanese businessmen are busily exploring the rich potentialities of this territory -some 30 years after the imperial army lost 150,000 lives in a futile attempt to seize it by force...
...encouraged self-sufficiency in consumer goods and ignored the export and agricultural sectors. The Chilean upper class did not make a sufficient investment in research and development to build industry for export, but preferred to rely on an easy internal market, protected by tariffs and an overvalued currency. The copper exports also failed to increase because U.S. companies used their profits from Chilean mines to invest elsewhere...
...price of copper fell, and Chile found itself in a balance of payments crisis. U.S. and international organizations attempted to promote a favorable climate for private investment by filling the gap with loans. During this period, the Chilean economy did not grow, but the loans enabled the middle and upper classes to maintain a high level of consumption. In the years 1965-1970, foreign organizations loaned Chile $1.1 billion, increasing the already staggering foreign debt...