The nonprofit Vidanta Foundation, founded by retired Mexican businessman and philanthropist Daniel Chavez Moran, promotes the analysis of Latin American international relations and strategies for a positive integration of the region in the global economy. Daniel Chavez Moran shares these interesting insights from Alberto Ramos of Goldman Sachs, a leading global investment banking, securities and investment management firm, on the Latin American decade ahead:
- This definitely could be the Latin American decade—if policy-makers seize the opportunity to adopt longstanding structural reforms geared to increase productivity, diversify the economic base, and boost real GDP growth.
- Second-generation reforms that could help unlock the growth potential in Latin American economies include reforms in education, labor markets, and trade, but also institutional reforms aimed at increasing the efficiency of the public sector and at attracting domestic and foreign investment.
- China’s emergence as a global economic and financial powerhouse and major consumer of commodities has admittedly levered the economic performance of Latin America. At the same time, China is now a formidable competitor in the export of manufacturing goods, particularly for Mexico.