Sábado, 25 de febrero de 2017

| 2008/10/21 00:00

Point of view: The Silly Ideas of the South

Oct 21 -- Over the past few weeks, some silly ideas have circulated on the impact of the financial crisis on Latin America.

Point of view: The Silly Ideas of the South

The most dangerous was that Latin America would be largely impervious to a debacle that was, as Brazilian President Luiz Inácio Lula da Silva imprudently phrased it, "Bush's crisis."
 
Leaders ranging from Mexico's Felipe Calderón on the center-right to Fidel Castro and Hugo Chávez on the extreme left all claimed, for different reasons, that orthodox macroeconomic policies, recent growth, solid banking systems, the high price of commodities (oil, soybeans, copper, iron, coal) and tighter market regulation and supervision would help spare the Latin economies from the woes of their partners across the Rio Grande, the Atlantic and the Pacific.
 
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