Word: ecuador
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...desperate. In the 50 years since U.S. Army engineers carved the present seaway out of the Panamanian jungle, the canal has proved one of the wonders of the world. Today some 50% of Japan's exports to the West pass through the canal; such South American nations as Ecuador, Peru and Chile depend on it for between 75% and 90% of their total imports and exports. But ships have slowly outgrown the intricate network of three lock systems that carry them across the hump of the isthmus, and trade is expanding far beyond the canal's capacity...
...most straightforward summation of all came from Ecuador's Finance Minister Alberto Quevedo. Said he: "More and more, we Latins are prepared to give in to demands for social justice. A peaceful revolution like the one propounded by the Alliance means that we may lose a good share of our privileges. A violent revolution will certainly mean the total loss of all that we have and cherish...
Cooling the Tempers. Two years ago in Peru, the army stepped in after an inconclusive election threatened to divide the country into warring camps; when tempers cooled, Peru had another election, and now President Fernando Belaunde Terry is successfully working to develop the country. In Ecuador, the military retrieved the country from the boozy, embarrassing excesses of President Carlos Julio Arosemena and pressed on with a sobering program of austerity and fiscal reforms. In El Salvador, burly Army Colonel Julio Rivera took power three years ago; he has now been freely elected constitutional President, is breaking the hold...
...LAFTA delegates at Bogota will consider several proposals. One plan would trim all tariffs by 10% a year; a more popular proposal calls for 12% cuts by LAFTA's most advanced members (Argentina, Brazil, Mexico), ranging down to only 4% reductions by its least developed countries (Paraguay and Ecuador). Even with that, the less developed countries fear that their infant industries would be wiped out by a flood of imports from the more advanced nations, who then would dominate LAFTA...
...come by in Latin America's tight capital markets. The Latin nations produce roughly the same kinds of basic commodities, sell little to one another. Railroads, highways and ports in many areas range from primitive to nonexistent, and shipping is in short supply. "To intensify trade," says Ecuador's National Planner Raul Paez Calle, "we must have an infrastructure of communications, transport, power supply and, perhaps more important, a human infrastructure...