Word: copperizing
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Industrial nations, particularly the raw-material-starved Japanese, long hungered after Indonesia's largely untapped hoard of oil, copper, nickel and timber. But intense nationalism and chronic political upheaval kept foreigners out until volatile President Sukarno was overthrown in 1965. Since the new government began encouraging outside investment two years later, hundreds of companies from Japan, the U.S., Europe and the Philippines have poured $250 million into the archipelago, mostly for mining and logging, and have pledged to spend another $1.15 billion. On top of that, they are spending $150 million annually exploring offshore...
...Indonesia into an important producer of several materials for which the industrialized world could use an alternative source of supply. Canadian labor strikes in the past have caused highly inflationary shortages of nickel, for example, and the attitude of Chile's Marxist government threatens the stability of world copper production. Western nations also worry about the prospect of a shutdown of Mideast oil wells by Arab governments seeking more revenue. In newly stable Indonesia, the problems are merely finding the materials and bringing them to market...
...crowd that thronged Santiago's 100,000-seat National Stadium was Chile's new elite. There were rural campesinos carrying scythes, cement workers in blue hardhats, electricians in yellow ones, copper miners whose helmet lights glowed eerily in the dusk. For nearly two hours they listened as their tieless. coatless President, Salvador Allende Gossens, reeled off numbers-of farms expropriated, factories nationalized, peasants resettled on their own new lands. "The Chilean road toward socialism," he boomed, "has been realized with the least social cost of any other revolution in the world...
...applauded in red banner headlines: YOU'RE GOING GREAT, CHICHO, YOU'RE GOING GREAT. Those who are happiest about where "Chicho" (an affectionate nickname) is headed are the hundreds of thousands of Chilean peasants and wage earners who were left out of the modest prosperity that the copper-rich country enjoyed after World War II. But Chile's broad middle-its businessmen, managers and professional men-have begun to balk. Their worry is that Allende, under pressure from his own far-left backers, has begun to move too far, too fast...
...major United States copper company recently concluded an agreement to shift its most polluting operations to Japan, explicitly to avoid U.S. anti-pollution laws. Prime Minister Sato has decided upon a similar strategy of exporting pollution. His government has announced that an industrial park for some of Japan's worst polluters will be established on South Korea's southern shore...