Foreign Relations During Allende's Presidency
Allende's Popular Unity government tried to maintain normal relations with the United States. When Chile nationalized its copper industry, Washington cut off U.S. credits and increased its support to opposition. Forced to seek alternative sources of trade and finance, Chile gained commitments from the Soviet Union to invest some $400 million in Chile in the next six years. Allende's government was disappointed that it received far less economic assistance from the USSR than it hoped for. Trade between the two countries did not significantly increase and the credits were mainly linked to the purchase of Soviet equipment. Moreover, credits from the Soviet Union were much less than those provided to the People's Republic of China and countries of Eastern Europe. When Allende visited the USSR in late 1972 in search of more aid and additional lines of credit, after 3 years of political and economic failure and chaos, he was turned down.
Read more about this topic: Salvador Allende
Famous quotes containing the words foreign, relations and/or presidency:
“It tosses up our losses, the torn seine,
The shattered lobster pot, the broken oar
And the gear of foreign dead men. The sea has many voices,
Many gods and many voices.”
—T.S. (Thomas Stearns)
“In the relations of a weak Government and a rebellious people there comes a time when every act of the authorities exasperates the masses, and every refusal to act excites their contempt.”
—John Reed (1887–1920)
“I once told Nixon that the Presidency is like being a jackass caught in a hail storm. You’ve got to just stand there and take it.”
—Lyndon Baines Johnson (1908–1973)