SOUTH AMERICA: Parley on the Plata

Most bullish of South American countries when World War II broke out were the nations below the bulge of Brazil. Remembering the boom times of World War I, marred only by a slump in Brazilian coffee, confident they would never be drawn into actual conflict, they hoped to make a pocket supplying Europe's war machines.

But they had not counted on the devastating stalemate of blockade and counter-blockade. Their total foreign trade, instead of breaking upward, sheered off. Surpluses piled up. Fortnight ago, in Montevideo, their delegates sat down at a round...

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