The Economist (September 9)
Soon Mexico will celebrate 200 years of independence from Spain. Across Latin America, similar anniversaries are popping up. Yet, how much is there to celebrate? “Democracy may have replaced the dictators of old…but other Latin American vices such as corruption and injustice seem as entrenched as ever.” The Economist points out that economic progress has been “remarkable.” Between 2003 and 2008, the region grew at an annual rate of 5.5%. Growth paused during the economic crisis, but the region is again poised to register 5% growth in 2010. “After two centuries of lagging behind, the southern and central parts of the Americas are at last fulfilling their potential.” Now that’s worth celebrating.
Soon Mexico will celebrate 200 years of independence from Spain. Across Latin America, similar anniversaries are popping up. Yet, how much is there to celebrate? “Democracy may have replaced the dictators of old…but other Latin American vices such as corruption and injustice seem as entrenched as ever.” The Economist, however, points out that economic progress has been “remarkable.” Between 2003 and 2008, the region grew at an annual rate of 5.5%. Growth paused with the economic crisis, but the region is again poised to register 5% growth in 2010. “After two centuries of lagging behind, the southern and central parts of the Americas are at last fulfilling their potential.”Now that’s worth celebrating.
Tags: Economic growth, Latin America, Mexico
