Daniel Chavez Moran, philanthropist and retired developer of five-star hotels and resorts, golf courses, vacation ownership resorts and tourism infrastructure throughout Latin America, focuses his passion and interest in economic and social development through his work with the non-profit Vidanta Foundation. The Foundation’s mission includes influencing public policies that strengthen democracy and economic sustainability in Latin America.
Chavez Moran notes this recent analysis of the debt crisis now facing the United States and its potential impact on Latin America as published by Reuters:
Role reversal: Latin America taunts U.S. on debt woes
(Reuters) – After three decades spent battling their own debt crises and getting constantly lectured about them by Uncle Sam, many Latin Americans are watching the countdown to a possible default in Washington with a mix of schadenfreude and fear of what a collapse might mean for them.
For everybody from presidents on down to street vendors, seeing U.S. politicians argue over where to make painful budget cuts has also been a reminder that those days are over in Latin America. For now, at least, as most of the region enjoys an era of economic prosperity and comparatively tiny deficits.
…These days, Latin America’s economy as a whole is expected to expand about 4.7 percent in 2011 — almost twice the expected rate in the United States — thanks to strong demand for the region’s commodities and a decade of mostly prudent fiscal management, itself the product of many hard-learned lessons of the past.
Related posts: Daniel Chavez Moran on strengthening democracy in a global economy and Daniel Chavez Moran on building Mexico’s growth opportunities.