Word: ecuador
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Dates: during 1950-1959
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Besides wages, there are other explanations for the loss of the U.S. competitive edge. Some U.S. exporters fail to study the foreign market, use it only as a dumping ground for surplus that they cannot sell to the U.S. For example, Germany dominates the radio-set market in Ecuador because her makers produce a compact, high-quality, inexpensive multiple-short-wave set; it sells well in a country where much of the listening is to foreign stations. Comparably priced U.S.-made sets bring in only nearby stations, have only a limited market. U.S. businessmen find it hard to obtain Government...
...Jordan: Byroade's predecessor in Afghanistan, Sheldon T. Mills, 54, Foreign Service veteran who took up his first overseas post in Bolivia in 1929, served as Ambassador to Ecuador before moving to Afghanistan...
...base of Ecuador's boom is a ten-year record of political stability, starting with Galo Plaza Lasso, 53, onetime University of California fullback, who won the presidency in 1948. The secret ingredient is democracy, both of thought and action. Coupled with the brains to take advantage of Ecuador's rich soil, it brought the boom. As the dread Panama disease, a killing blight, ravaged older banana plantations through Central America, Galo Plaza spent every dollar his government could spare to open up the virgin coastal plain, where rich topsoil lay three feet thick. In ten years Ecuador...
...sure as a blue-chip stock,'' says a Quito attorney. "You plant bananas for quick returns, and a second crop-either coffee or cocoa-for the long term. In five years your annual income equals your original investment." As the second crops came to fruit, Ecuador's coffee exports jumped from $3,000,000 to $25 million, cocoa from $6,000,000 to $20.5 million...
Realists point out that one reason why Ecuador moved ahead so fast was that it had far to go. Per capita income, though it almost doubled in a decade, is still only $164 a year. Too much business and industry is run as an old family affair, grossly inefficient, protected by high tariffs. Yet Galo and his successors down to Conservative President Ponce Enriquez have brought hope for the future and, above all, freedom. Almost daily one paper or another roasts Ponce for "fraud, deceit and treason." The President ignores them all. "Neither calumny nor insult disturbs me," he says...