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Other than Venezuela, yes. Nearly all of Latin America is improving, some countries more than others but things are surely improving, even if slowly in most of the region.
I have recently looked into Latin America and countries like Chile, Argentina, and Uruguay that all seem to be doing at least generally well or ok, especially Chile. I was wondering as a whole and in the next 10-25 years has latin america improved and will it continue to improve? Poverty rates going down, crime rates going down, rising economies, and the long term goal of become developed countries like much of Europe and elsewhere? Would love some feedback from people who actually live in these latin american countries and how they view this!
It all depends on the governments and the amount of corruption in government. Most of these countries go through cycles depending on whose in government. Chile is ok now, but just 10 years ago wasn't. Probably the two strongest economies right now are Colombia and Brazil. Argentina, contrary to what you think, is not doing well economically. I have a cousin who went from Colombia to Argentina recently to look for work, but ended up going back because Argentina was so dilapidated. Argentina has had its ups and downs. 5-10 years cycles seems to be pretty normal.
It all depends on the governments and the amount of corruption in government. Most of these countries go through cycles depending on whose in government. Chile is ok now, but just 10 years ago wasn't. Probably the two strongest economies right now are Colombia and Brazil. Argentina, contrary to what you think, is not doing well economically. I have a cousin who went from Colombia to Argentina recently to look for work, but ended up going back because Argentina was so dilapidated. Argentina has had its ups and downs. 5-10 years cycles seems to be pretty normal.
No, Chile has been doing good since the 90s, that's what made them the most developed LatAm country.
Brazil is in economic recession. Colombian economy is decelerated.
10 years ago Chile was doing much better than most countries, nowadays Chilean economy is doing so, so, growing at 1,5% this year.
there are protests because Chileans are now claiming things that they couldn't claim when the country was much poorer, like free, good quality college education, a public pension system, etc.
Quote:
Originally Posted by 80skeys
Like I said, you can't rely on anything continuing forever in South America. 5-10 year cycles.
countries like Peru, Chile, Costa Rica, Uruguay and even Colombia have been very stable for the past 15-25 years.
Developmental Economics is the branch of economics that focuses on economic growth in developing countries.
There is actually a mathematical formula they use to provide predictions (mathematically) as to where a country's economy and people (per capita income) will be in X years, if Y growth rate is sustained. I think the X years is either in 10 or 20 year spans but I can't remember exactly.
If I recall correctly developmental economist suggest developing nations need to maintain an economic growth rate of at least 5 percent annually to reach the point of developed nations in X years.
But positive percentage change annually in gross domestic product requires efficient use of inputs if there is to be positive change in per capita income and long term impact on society as a whole. Economic growth can't be only fueled by population growth and expansion into more previously unused or forested land.
Brazil has great components for a powerful nation. Currently Brazil is in negative economic growth or the loss of jobs and productive outputs.
The Dominican Republic several years ago had an economic growth rate of 5 percent I think. Online, a guy from the DR was showing me pictures of their domestic development, a mall in particular and he googled up Mayfair Mall in the suburb of Milwaukee and compared and contrasted it to that. I was back then pretty impressed with the DR's on going domestic development and economic growth judging by what he was telling me.
So, as of 2015 it appears that the Dominican Republic had an annual economic growth rate 7 percent for that year. Pretty impressive comparing it to the 6.9 percent growth rate for China that year. The DR produced much larger economic growth rate than Sweden, Switzerland, the U.K., and the U.S.A. last year.
The Dominican Republic had too small of a population to ever be a powerful nation on its own like the USA, India, China, or the potential Brazil has (and is in Latin America). But "power" is not everything and arguably if all one seeks is peace and the domestic prosperity of its people then power projected in military and political terms is unneeded anyways. The people of the theocratic monarchy ruled Qatar live fabulously and they can't project military and political power anywhere near the level the Unitec Statec and China can.
What I suspect is that the Dominican Republic will--if it can maintain at least 5 percent annual economic growth, let alone 7 or 10 percent--reach the comparible standard of living in the United States and United Kingdom if not surpassing them, in about 20 years or so, given the DR's small population size.
Given the DR is more racially homogenous than either Brazil or the United States the DR will surpass black and brown Brazil and Black-America. Kind of like more homogenous white societies of countries like Switzerland are more loyal and care more about its citizens because they view all those white faces as "one of them" whereas in the United States and Brazil the Browns and blacks are viewed as "the other." So, Switzerland and the DR are more likely to have politicians willing and wanting to increase the human capital of all its citizens (albeit, the Haitians of the DR are not particularly embraced). And human capital is as important as building a factory, especially one requiring computer knowledge and learned trade skills. The more productive the workers in a country (which corresponds with understanding and using the latest technologies of an era) the more their wages rise. Economists have found that correlation.
Costa Rica is always very stable. They never seem to improve or get worse, they always stay the same. It is a beautiful little country.
It is...if only they had a better cuisine it would perfect.
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