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Argentina, Economic Barometer of the Alliance for Progress
Sigafoos, Robert A.
5/1  (Fall 1962): 43-56

Despite recent political upheavals, the Argentine: economy is firmly embarked upon a developmental policy designed to foster the growth of heavy industry and attract foreign trade and capital. The fact that Argentina does to a degree have elements of social backwardness and an enigmatic, partially stagnant economy does not offset the fact that she has no major land reform problem, no population explosion, no unassimilated native population, no extensive illiteracy, no disease or food shortage problems, and no real lack of basic amenities. Argentina probably needs tax reform, improved public administration, better economic planning, greater self-sacrifice, more housing, and a great many extensive improvements in its social and economic overhead capital. Labor unions, however, certainly hold one of the principal keys to Argentine development implementation on a steady upward basis. The unions have called nationwide labor halts in both 1961 and 1962 in a show of force. This figure points up Argentina's growing economic isolation from its traditional European customers which has suddenly reached a sobering climax with the probable movement of Britain into the European Common Market and with the imposition of trade barriers against Argentine beef by Italy and West Germany in the latters' attempt to become self-sufficient in farm and food products.

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