Word: echeverria
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Another way to break dependency on the United States, Fuentes believes, is to further develop relations with other Third World nations by diversifying trade and developing greater political ties. Such efforts began with the last president, Luis Echeverria, and have been intensified under current President Lopez Portillo. Most recent attempts have been statements defending Cuba and agreements with Venezuela to provide 30-percent oil credit to Central American and Caribbean oil-importing nations...
...boasts the region's highest per capita income ($1,650), the country ran up a formidable $650 million trade deficit last year, mainly because of spiraling oil bills. The result has been declining growth, rising food prices and increased labor unrest. Warns Economist Angel Rodríguez Echeverria: "Unless we resolve our economic problems, Costa Rica could become vulnerable to the troubles of other Central American countries...
...middle-class supporters, who saw their savings and life-styles threatened. Mexico's support for a 1976 U.N. resolution equating Zionism with racism provoked a short-lived boycott of Mexican resorts by American Jewish tourists, thereby staggering an industry that is the nation's largest employer (460,000 jobs). Echeverria's unpopularity had its impact on the election of his successor. In an expression of discontent with the P.R.I., voters ignored the party's customary flamboyant campaign; only 50% of them bothered to cast their ballots...
Even today, Mexicans remain puzzled as to why Echeverria chose Lopez Portillo as his successor. Although the two had been friends since their student days at the National University, they had little in common. Echeverria was a politician to his ringer tips, and something of a political demagogue. Lopez Portillo was an unknown technocrat and law professor who had never run for public office. The outgoing President was almost strident in his efforts to establish Mexico as a leader of the Third World. His successor appeared to be a dedicated academic, most comfortable when studying archaeology or writing a novelette...
...theory, prevalent at the time of his nomination, was that after leaving office Echeverria secretly hoped to manipulate López Portillo from behind the scenes. A more plausible explanation is that the former President recognized how deep Mexico's malaise really was, and in a statesmanlike manner settled on a capable economist who could restore business confidence. When he handed over the sash of office on inauguration day, a newsman asked: "What is going to happen to the Echeverristas now?" The ex-President answered: "There are no Echeverristas, only López Portillistas...