Word: latinate
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Dates: during 1970-1979
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...Latin America does not have the independent position of China or Europe to be able to establish controls over foreign business. Nor does business face the pressure which is exerted by internal groups in the United States--labor unions, environment groups, and consumer groups...
ACCORDING TO business school theory, U.S. business becomes an asset to foreign countries by contributing technical knowledge, training, new equipment, and capital. Latin American countries, however, can only be hurt by U.S. investment...
...businessmen claim that multinational corporations contribute capital to developing countries, statistics show that the bulk of capital used by U.S. investors is not imported from the United States but borrowed locally or reinvested from the company's earnings. In the 1960s, U.S. companies exported $2.4 billion to invest in Latin America and brought in to the United States $10.2 billion in income, not including fees for management and royalties, which would raise the figure higher...
...When Latin American countries attempt to control the extent of international acquisition, excess profits, monopoly practices, draining of natural resources, and wage levels, they invariably face opposition by U.S. business. Allende, for example, said that he did not intend to discourage all American investment, but only to gain Chilean possession of the country's most crucial businesses and establish firm controls over business practices and profits. U.S. business, through the U.S. government, pressured for political conditions favorable to its interests in Guatemala in 1954, Brazil in 1964, the Dominican Republic in 1965, and recently, in Chile...
...North American Congress on Latin American quoted one U.S. banker...