Look West Not East: South America Will be the 21st Century's Superpower
Conventional wisdom tells us that a new star will rise in the East, and all eyes have been looking towards China or India as the 21st century’s new superpower. But remarkable as their recent economic growth may have been, the institutional frailty of both nations raises questions about long-term sustainability. Meanwhile the economies of South America have also been transforming themselves quietly and less flashily, unburdened by the dead weight of caste politics or communism. And it’s not just Brazil that catches the eye: at 9.8 percent Peru's growth rate last year was one of the world’s…
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