Word: ecuador
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Dates: during 1970-1979
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Outside Chile, Allende is rapidly winning acceptance. On a recent ten-day swing through Peru, Ecuador and Colombia, he won pledges of moral support for his sweeping nationalization of American-owned firms. Even Argentina's jittery military regime has begun to regard its Marxist neighbor as just another striving nationalist. The Communist countries have been careful not to embrace Allende too eagerly, for fear that they might do him more harm than good. For that reason, Fidel Castro refused an invitation to Allende's inauguration last year; he is due to arrive in Santiago for his first visit...
...Imperiled Credit. Most U.S. copper men had written off the prospect of compensation long ago. Nationalization is becoming a familiar, if uncomfortable fact of life for American firms in Latin America. In the past few months, Bolivia, Peru, Guyana and Ecuador have seized U.S. holdings. Robert McNamara, president of the World Bank, warned last week that such a trend in developing countries may "seriously imperil" their ability to get credit and may discourage investment in entire regions...
Ostensibly to protect its deep-sea fishery from the depredations of foreign commercial fleets, Ecuador claims that its territorial waters extend 200 miles offshore-something of a stretch beyond the usual twelve-mile limit. Yanqni tuna fishermen have "intruded" regularly over the years, sometimes paying the Ecuadoreans a license fee, sometimes not. Without a license, the American boats run the risk of seizure by the Ecuadorean navy. (More than half of Ecuador's 21 ships, as it happens, were supplied by the U.S.) Lately the Ecuadoreans have been getting more aggressive: since Jan. 11 they have seized...
...Americans usually manage to get their boats back, after paying fines that have ranged as high as $86,000. Since the U.S. Government reimburses the fishermen, the situation would be tolerable, if mildly embarrassing, except that Ecuador has now managed to turn the whole Ustinovian affair into a diplomatic confrontation. Uncle Sam, to retaliate against Ecuador, cut off military aid, which came to $4,500,000 last year. "Aggression!" exclaimed Ecuador, though there seemed something faintly odd in using that particular word to describe cutting off military supplies. The Ecuadoreans claim, however, that such sanctions violate the Organization of American...
...campaign and analyses of results, it seemed that the only news was election news. But normalcy-or what passes for it-quickly returns. The delegates to the Paris peace talks met for the 91st time and reported no progress. Four men completed a hazardous voyage on a raft from Ecuador to Australia to prove that American Indians could have sailed across the Pacific. American B-52 bombers once again flew missions over the Ho Chi Minh Trail to stem a North Vietnamese buildup in the Demilitarized Zone. Ralph Nader was locked in another safety battle with General Motors. The WAVES...