Word: frei
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...companies-Anaconda and Kennecott. Chilean mines produced 741,000 tons of copper last year, about a sixth of the non-Communist world's total. Last week Anaconda Co., the world's biggest copper producer, started to negotiate privately in Santiago with emissaries of President Eduardo Frei. Both sides seemed likely to compromise...
Debate over Morality. Nearly five years ago, Frei was elected on a moderate platform that promised to "Chileanize" the country's copper industry, then largely U.S.-owned, and double production to move it from third place to first place in the non-Communist world. His government offered tax cuts in return for production increases and a share of the ownership. Kennecott in 1967 sold Chile 51% of its El Teniente mine and promised a large expansion of operations by 1971. Chile paid the company $80 million and cut its taxes in half-down to 44% of revenues. Chile also...
...equally hard blow, Chile requested that Rockefeller's visit there be canceled. Again, like Caldera, President Eduardo Frei Montalva, a friend of the U.S., was influenced by threats of unrest in response to the Rockefeller visit. In any case, some Chileans felt that a visit from President Nixon's envoy would be superfluous: this week, Foreign Minister Gabriel Valdés, acting on behalf of all Latin American countries, will present the President with a common-stand position paper that proposes new foundations-particularly in the economic field-for U.S.-Latin American relations...
...entirely Frei's fault. From the beginning of his six-year term, the elements seemed to combine against him in one calamity after another. Chile was racked by destructive earthquakes and storms; now it is suffering the worst drought in its recorded history (TIME, Jan. 24). Inflation has spiraled: last year alone the cost of living rose by more than 30%. The rise, accompanied by higher taxes, upset Chile's sizable middle class. Also, many Chileans were disturbed by what they considered the leftward drift of the Christian Democrats. Frei has had to contend with a militant left...
...Courted Radicals. In the short run, the election losses will impede Frei's efforts toward further reforms in his remaining 19 months in office (under Chilean law, he cannot run for a second successive term). More important, the Christian Democrats will now have to find allies for the bigger stakes, the presidential race next year. The most likely seem to be the centrists of the Radical Party, who polled 13% of the vote last week. What will make such maneuvering doubly interesting is that the rightist National Party, its presidential hopes inspired by last week's gains, will...