Title: The Economic Debacle In Latin America
Headings: The Economic Debacle In Latin America
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The Economic Debacle In Latin America
What Is a Recession?

Content: I regard what happened in Brazil as almost a miracle – not an economic but a social and political miracle. So-called economic miracles are the natural outcome of respecting the human right to own private property and to trade and improve on that property. The miracle is how to reach a workable and sustainable consensus among major civil society players to establish the conditions that have, for example, turned Nazi Germany into today’s Germany, or poverty-stricken South Korea into the prosperous Korea of the 21st century. Similar economic policies can turn what was a dysfunctional populist Brazil into the free, orderly and prosperous country that is hoped for by many. The regional impact can be significant, as Brazil represents half of South America in both economy and population. The GDP of one city alone, São Paulo, is larger than that of Chile. A Brazil growing at a 4% rate – not impossible to achieve by 2022 – would change my pessimistic forecast for the region. Economic Minister Paulo Guedes, Brazil, speaking at a recent academic conference. If his programs ... [+]
are allowed to continue, Brazil can be the driving force of the Latin American economies
Alejandro Chafuen
Mexico is the second largest Latin American economy and the most relevant for the United States. There, in addition to the problematic government and its leftist ideology, we see two other major forces: