Word: exportability
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Dates: during 1970-1979
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...18th century, when English explorers began to poke into the great fever swamp of western Africa that is now Nigeria. Arab traders had arrived 300 years earlier, recommending their religion and bringing news that a minor local industry, slave raiding, could be the basis of a thriving export trade. The Britons advocated their own faith. They also urged the unwelcome view that slavery was immoral. It interfered with the manpower needed for the palm-oil trade...
...That presumably includes one of the touchiest problems facing the U.S.: the Panama Canal (see box following page). Continuing his global effort to inspire confidence in America's reliability, Kissinger also pledged "to enforce our commitment to mutual security ... against those who would seek to threaten independence or export violence" -meaning the Cubans. In fact, it was Venezuelan President Carlos Andres Pérez who, in his private talks with Kissinger, raised the new "hemispheric reality" of Cuba's Angolan intervention...
Until the Lockheed revelations, the payoff with the most explosive consequences was United Brands' 1974 payment of a $1.25 million bribe to a high official in Honduras to reduce an export tax on bananas. The bribe was uncovered by an SEC investigation into the suicide of United Chairman Eli Black, who swung his briefcase to smash a hole in a window of his office on the 44th floor of New York City's Pan Am Building and then jumped to his death. The disclosure helped bring on a Honduran coup that overthrew the government of President Oswaldo...
...class I spoke about the alienation of work under capitalism, and its perpetuation through excessive consumption and addictions and anti-social escapes. I explained how we export the worst of the exploitation to foreign workers, citing what happens in Puerto Rico and Taiwan (and, in the past, Shanghai, Havana, and Saigon). I described Latin American peasants who get a few cents a day growing coffee, yet have to buy their wheat from us; we keep governments in power there which force them to plant only coffee, so we can get it cheaply and control the wheat market. I spoke...
Zaire, which has been hurt by a drop in the world price of its chief export, copper, recently fell months behind in paying off the $1 billion it owes to U.S. private banks and has only lately caught up with the help of the International Monetary Fund. Other copper exporters, including Zambia, Chile and Peru, might seek extensions of their loans. Bankers emphasize that a stretchout of repayment schedules by no means implies that the loans will eventually go into default, but the banks will have to wait to get their money back...