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thank for your selection. Now it became clear that somewhat conservative economic policies during boom time of early 2000s are paying off for Latin America (and emerging economies on the whole).

Populism has also many economic advantages especially of developing better safety net (in last century the West's financial institutions  never bothered to give developing countries such advice) because redestribution of wealth through various welfare schemes make the market bigger.

Only populists like Chavez and Morales should not forget mistakes of Soviet system - it was totally bureaucratized and stifled of any competition, corruption levels were also bigger. The essential market nature of Latin economies should be preserved.

Then Latin politicians should think thoroughly what they can export besides raw materials/agriculture and forge better links to China and South East Asia, the future capitals of money and wealth. For that they need massive investments not only in infrastructure and education and health but also in modern technologies which they can get from Europe and US.

by FarEasterner on Fri Jan 15th, 2010 at 10:11:17 AM EST

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