Word: brazill
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...recent abortive, Nazi-labeled Brazilian revolt is evidence that totalitarian propaganda sometimes backfires. Sometimes totalitarian economics backfire, too, and last week it was disclosed that the U. S. had nudged Germany out of No. 1 place as exporter to Brazil, that Brazil was starting to cut down her German trade...
...Germany held third place in exports to Brazil, U. S. first, Great Britain second. That year Nazi barter economics started in earnest in Brazil. Germany bartered for Brazilian cotton, coffee, cocoa, gave in return machinery, iron and steel, manufactured products. In 1936 Germany rose quickly to first place as Brazilian exporter, held it through...
...increased trade with Brazil came with the reciprocal trade treaty effective Jan. 1, 1936. Best argument to induce Brazil to take more U. S. exports was that the U. S. normally buys with internationally exchangeable dollars twice as much from Brazil as Brazil buys from the U. S. Coffee accounts for about 80% of Brazilian exports to the U. S. Later, however, the U. S. discovered another powerful trade persuader. In 1937 the U. S. agreed to sell to Brazil gold up to a value of $60,000,000 to steady Brazilian exchange. Also helpful to U. S.-Brazilian trade...
Early this year German exports to Brazil began to decline, U. S. exports to rise. By treaty a quota is placed on the amount of some products Germany can buy in Brazil with the "compensated" marks. Early this year she used up all the compensated marks allowed for buying Brazilian cotton. She then pulled an economic trick by buying 300,000 bags of quota-free cocoa with compensated marks. Brazil can easily sell her cocoa in a free world market for good currency. By this "purchase" Germany 1) tried to flood Brazil with compensated marks so that Brazil would...
...retaliate, Brazil raised the quotation on the compensated mark, thus increasing the cost of German products throughout Brazil, thus eventually cutting down German exports...