Latin power
By Knowledge@Wharton, 3 March 2006 Wednesday, 26 April 2006
The populist left has been winning power again in Latin America, most recently in Bolivia where Evo Morales was elected president on a ticket that included nationalising oil and gas production, and controlling land speculation.
Does this revival highlight the consolidation of democracy or is it a potentially dangerous trend that could return Latin America to its darker decades of hyper-inflation, suffocating debt and political extremes?
Worryingly, only half of Latin Americans say democracy is preferable to other forms of government. But the region now benefits from relative macroeconomic stability, well-functioning economies, lower debt levels and falling inflation.
Companies should still be wary of opportunities that might make themselves political targets, though. Sometimes it can be wiser not to take advantage of limited regulation or special tax concessions.
Source: The populist left in Latin America: threat or opportunity?
Knowledge@Wharton, 3 March 2006
Review by Steve Lodge
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