Word: embargos
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Dates: during 1970-1979
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...said Willem de Klerk, editor of Die Transvaler, the country's influential Afrikaans-language newspaper. And that was the reaction of many white South Africans, as they faced the all but inevitable prospect that the United Nations this week would adopt a mandatory arms embargo against their country for the first time. The expected U.N. resolution-perhaps the first in a series that could lead to economic sanctions as well-was a direct response to the Pretoria government's latest wave of repression. A week earlier more than 50 black leaders had been placed under detention...
South Africa has for years vied with Israel for the title of the U.N.'s leading pa riah. A voluntary arms embargo against South Africa has been on the U.N.'s books since 1963, but as recently as two years ago, the U.S., Britain and France voted against a Third World effort to make the embargo mandatory. Resentment against South Africa has been building, however, since the Soweto riots began 17 months ago. It has been further fanned by the death in September of the imprisoned black political leader Stephen Biko. An autopsy, still to be released, reportedly...
However, Washington is opposed to economic sanctions-a far more drastic step that it believes would be counterproductive. The Administration's goal is an arms embargo subject to renewal by the Security Council every six months. The hope is that such a resolution would persuade Pretoria to ease the strictures of apartheid and repression. Young gained the support of the other Western members of the Security Council (Britain, France, Canada and West Germany) for a carefully worded resolution that would impose the arms sanctions and also brand South Africa "a threat to international peace and security." With the help...
...Minister Roelof ("Pik") Botha, formerly his country's Ambassador to Washington, denounced the U.S. as a "faithless friend" and as Pretoria's "No. 1 enemy," and accused Carter of demanding from South Africa a standard that it would not expect from black Africa. As for an arms embargo, Botha contended that South Africa's arms industry was strong enough to overcome any sanctions. Said he: "I think the superpowers, if they want to overcome us, will have to do it with a force of a very vast nature. It will be a very expensive effort...
...unemployment. And businessmen already have plenty of cause for such caution. The deep recession of 1973-75 shook their faith that the economy would keep rising, with only minor setbacks; the double-digit inflation of 1974 made them doubt that they could realistically estimate future costs; the Arab oil embargo of 1973 and the fears of energy shortages that followed caused them to wonder whether they could find fuel to power new plants, and at what price. Investment always involves some risk, of course, but in the minds of many executives the risks now outweigh the potential rewards. Says Grant...