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42. Memo to Washington: China's Growing Presence in Latin America
- Author:
- Eric Farnsworth
- Publication Date:
- 10-2012
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- U.S. complacency toward China's economic activities in the hemisphere is shortsighted.
- Topic:
- Development and Economics
- Political Geography:
- China, Washington, Latin America, and Caribbean
43. Going Places?
- Author:
- Barbara Kotschwar
- Publication Date:
- 10-2012
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Asia leads Latin America in infrastructure.
- Topic:
- Development and Economics
- Political Geography:
- China, Asia, and Latin America
44. Guatemala's Military Man, Nicaragua's Revolutionary
- Author:
- Mike McDonald
- Publication Date:
- 10-2012
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- The newly elected leaders of Guatemala and Nicaragua are familiar. So are the problems they face.
- Topic:
- Economics and War
- Political Geography:
- Cuba, Central America, and Guatemala
45. Sports Populism
- Author:
- Simon Kuper
- Publication Date:
- 06-2011
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Fans like their teams—but not necessarily the politicians who support them.
- Topic:
- Economics
- Political Geography:
- Latin America
46. Brazil's Long To-Do List
- Author:
- Andrew Zimbalist
- Publication Date:
- 06-2011
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Can Brazil build the massive infrastructure it needs to host the Olympics and the World Cup?
- Topic:
- Corruption, Development, Economics, and Government
- Political Geography:
- Brazil
47. It's Not Your Grandfather's Hemisphere
- Author:
- Arturo Valenzuela
- Publication Date:
- 06-2011
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- The U.S. moves beyond traditional diplomacy.
- Topic:
- Diplomacy and Economics
- Political Geography:
- United States
48. Covering Sports in Latin America
- Author:
- Lisa Delpy Neirotti and Jeffrey Bliss
- Publication Date:
- 06-2011
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- No abstract is available.
- Topic:
- Economics and Government
- Political Geography:
- United States, Europe, and Latin America
49. The Opportunities and Challenges for President Dilma Rousseff
- Author:
- Roberto Setubal
- Publication Date:
- 06-2011
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Gradually and firmly over the past 15 years, Brazil has consolidated a stable democracy, broken free from macroeconomic instability, and taken remarkable steps toward alleviating poverty and reducing a historically high level of income inequality. The country that welcomed Dilma Rousseff as its new president on January 1 is also the country that will host the 2014 World Cup and the 2016 Summer Olympics. Ms. Rousseff has a chance to push Brazil further along the road to development. To get there, she must maintain the achievements of the past and persevere in making the changes that Brazil needs. The opportunities are big—so are the challenges. Brazil's political, economic and social advances have paved the way for the development of a large consumer market. This puts the country in a position to benefit from today's global marketplace. Consumer spending in advanced economies is flattening out. At the same time, with their large potential consumer markets, emerging markets are becoming “consumers of last resort,” attracting an increasing share of global resources. Brazil is one of them. A new, larger middle class is now emerging. From 2003 to 2009, about 35.7 million people joined Brazil's middle-class income bracket. By 2014, Brazilian economists and business leaders estimate that another 30 million will have made that move. This development will have far-reaching implications for businesses, but also for society as a whole. Investment is very likely to rise in the years ahead. New projects now follow the expected consumer patterns of this new middle class. Investment is spurred by macroeconomic stability and other developments that have increased confidence and enabled a slow but steady decline in real interest rates. This has lowered the cost of capital and stimulated credit and capital markets. Investments will also increase for more specific reasons. First, the new deepwater oil fields will require vast financial resources and new technology, allowing Brazil's oil production to double by 2020. Second, pent-up demand for housing will be a catalyst for investment, since a significant number of Brazilians still live in sub-standard homes. Third, the World Cup and Olympics will require investments on a considerable scale. Preparing for these large sports events will benefit diverse sectors of the economy, through spending on ports and airports, urban transportation, sports facilities, hotels, telecommunications, energy, and security. Tourism is likely to benefit during the games, and also afterward. Nevertheless, with public and private domestic savings at their current low levels, Brazil will need to continue tapping external savings to finance growth. That means a larger current-account deficit and an exchange rate appreciated by capital inflows. Brazil will have to make the most of its available resources. It will be essential to create an environment that is conducive to private sector saving and investment. Ensuring stable macroeconomic conditions is critical. Remaining market-friendly in a well-regulated environment is also crucial for healthy and abundant financing. A well-established institutional design for regulatory agencies, which instills the necessary confidence that the private sector can undertake major, long-term projects, is indispensable. A great deal can be achieved through small but focused changes, instead of ambitious but often unrealistic regulatory agendas. The advance in credit regulation in Brazil is one such example. Developing a deeper market for private, fixed-income securities is important, but there needs to be a liquid secondary market, so that families have more confidence in extending the maturities on their investments. Just as we have such a market for equities, we can have one for fixed-income securities...
- Topic:
- Security and Economics
- Political Geography:
- Brazil
50. Puncturing the 4 Myths about Latin America
- Author:
- Raul Rivera
- Publication Date:
- 06-2011
- Content Type:
- Journal Article
- Journal:
- Americas Quarterly
- Institution:
- Council of the Americas
- Abstract:
- Most people have grown used to thinking about Latin America as a region of marginal global importance: painfully poor, violent, politically and economically unstable and, to top it all, fragmented into some 20-odd countries, each one different from the other. So when Jerry Wind, founding editor of Wharton School Publishing, invited me to speak on Latin America at a Wharton conference aimed at senior U.S. executives, I wondered what a group of U.S. businesspeople would be interested to hear about the region. Who, after all, would want to do business in a place like that? But how accurate are those perceptions? As I prepared for my talk, my conclusion was: not much. Let's address the four principal myths about the region one by one. Myth 1: Latin America Really Does not Matter Economically To start, the territory of continental Latin America is larger than the U.S. and China combined, four times larger than the European Union, and seven times larger than India—a country roughly the size of Argentina. With almost every ecosystem represented, it is in fact the world's most biodiverse region, containing five of the world's ten most biodiverse countries. The region's bio-capacity (the biological productivity of the land measured in hectares per capita) is also larger than any other's. Witness the region's role in the global food chain: it is the largest producer of soybeans, coffee, sugar, bananas, orange juice, a leading fishmeal producer, and a major grain and meat exporter. Its mineral riches keep world industry running: silver, gold, copper, zinc, lead, tin, bismuth, molybdenum, rhenium, telurium, borium, strontium—you name it. And it produces one out of every six barrels of oil. In fact, much of the global community depends on Latin America's vast riches for its prosperity—indeed, for its survival. To that point: the Amazon basin plays a crucial role in the recycling of atmospheric carbon, absorbing one fourth of all global emissions. Latin America's population, now approaching 600 million, is twice that of the U.S. and significantly larger than the combined population of the European Union. Those numbers do not include some 50 million U.S. permanent residents and citizens who trace their origins back to the region (and keep close ties with it). By 2050, the region's population will have risen to an estimated 800 million. Latin America is not poor either. It boasts a per-capita GDP similar to the global average: $10,000. It is no richer or poorer than the rest of the world. In fact, 400 million people, or two-thirds of all Latin Americans, already belong to the global middle class, with their purchasing power fueling much of Latin America's growth. With some 200 million people still living in poverty, Latin America's poor are still numerous. But their ranks are declining fast, at a rate of 5 million a year over the past decade. As a result, its Gini coefficient improved by 10 percent between 2002 and 2008. In brief: the world's poor are now elsewhere—mainly in Asia and Africa. A population this large combined with average income levels have turned Latin America into the fourth largest economy in the world, with a regional GDP of some $6 trillion (purchasing power parity). That is larger than that of Russia and India's combined—larger, in fact, than that of any country or region other than the U.S., the EU and China. Not bad for a “region of marginal importance.” You could argue that Latin America's fragmentation into small, separate markets makes all the difference. But you would be wrong. As a result of the free-market reforms of the past decades, Latin America's economy is now the most open to trade in the developing world, with average tariffs down to 10 percent or less. Intraregional trade is booming. Most significantly, Chile, Colombia, Mexico, and Peru have signed bilateral free-trade agreements (with both the EU and the U.S., though Colombia's is waiting for the U.S. Congress' approval). These agreements are giving rise to a free-trade zone of some 200 million consumers, larger than Brazil and fully open to global trade. Surprisingly, it does not yet have a name—or a space among the BRICs. It will, though. Let's name these four countries the L-4 for now...
- Topic:
- Economics and Poverty
- Political Geography:
- United States, Europe, India, Brazil, Colombia, Latin America, Mexico, Chile, and Peru