Word: nde
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Dates: during 1960-1969
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Opening the Andes. Such windfalls would not have been enough if President Fernando Belaúnde Terry, 53, had not known what to do with them. What he did, working with an alltime-high G.N.P., which is now running at a $45 billion rate, was to spread the profits. Among other things, he went in for road building, so far has committed $665 million to projects ranging from highways around Lima to a 3,500-mile stretch that will presumably open up the Andes' sparsely settled eastern slopes to farming and light industry. So far this year Peru...
Belaúnde has also resisted political pressures to nationalize the U.S.-owned International Petroleum Co. (TIME, Nov. 8, 1963), has created a climate that makes investment thrive. Along the new highways around Lima, small but modern plants are producing everything from TV sets to tobacco products. Cashing in on consumer prosperity, Sears, Roebuck will soon open its third store in Lima, and has plans for two more next year. Until March 1965, Peru imported all its autos; it now has five assembly plants, will get eight more from French, German, Swedish and Japanese automakers next year. Says General Motors...
According to Javits, Peru's President Belaúnde, Chile's Frei and Argentina's Illia were receptive to his common-market concept, even if he met more hesitancy than hurrahs from many business leaders. Javits has succeeded before in pressing through unlikely schemes for Latin America. It was he who conceived ADELA (the Atlantic Community Development Group for Latin America), an altruistic investment organization whose backers include many of the most prestigious names in European, Japanese and U.S. business. So far, in less than two years of operation, ADELA has committed $22 million to 27 privately...
...West German industry for trucks and spare parts, and coffee, butter and citrus fruit, which East Germany considers "luxury" consumer goods. With time, a pricing system has evolved. Young prisoners such as Zippel and Trochim can be sprung for 15,000 Deutschmarks ($3,750), while the dicke Hünde (fat dogs) convicted of subversion and espionage pull down as much as $10,000 apiece...
Down By a Third. Belaúnde's government is well aware of the dangers involved in wholesale land giveaways. Mexico and Bolivia both experienced sharp drops in agricultural production when they went in for helter-skelter land reform; the Cuban economy is still reeling from Fidel Castro's mismanagement of the sugar lands. In Peru's own case, an efficient, 511,500-acre ranch near the Cerro lands was purchased two years ago by government officials, who parceled out most of it among 14 land-hungry Indian communities. Since then, 100,000 of the ranch...