Both Tonga and Fiji gain independence in…

Both Tonga and Fiji gain independence in 1970.

In Fiji, political polarization occurs between the descendants of the Indian contract laborers and the slightly outnumbered native Fijians, who, by law, own 83% of the land.

Two corporations, Todd (Shell/BP/Todd) and US-based Marcona Corp., allegedly aid Japanese conglomerates Mitsubishi and Mitsui in purchasing rights to New Zealand ironsands from the Muldoon exchequer.

Todd receives the sole New Zealand franchise for Mitsubishi vehicles.

Muldoon’s ministry awards Mitsui’s Oji Paper Co. a lucrative 320 million cubic foot Kinagoaroa Forestry contract with Carter Holt.

In November, 1970, the Fletcher group extends the Rockefeller-owned Travelodge operation by buying a controlling interest in Atlantic and Pacific Travel, New Zealand’s largest travel company.’ Manufacturers’ and Retailers’ Acceptance Company, which specializes in leasing and factoring, or buying debts at a discount, and finances imports and exports, changes its name to Marac in 1970.