Wednesday, September 16, 2009
The New Global Economic Leader? Peru
In the last couple of lectures we have discussed the many economic system transformations made by economic power houses, such as France, the UK and Germany. However, we have yet to discuss nations with far less significance to the global economic well-being. In this article, it discusses the emergence of Peru as a nation that has outperformed its larger, richer, neighbors to the north, despite being a small, poor county in the Western Hemisphere. With the help of a $13 billion stimulus package provided by the government and possessing substantial natural mineral resources, Peru has experienced a blistering 9.2% increase in growth. It is interesting to see nations with smaller economic power rise in a global market that continues to stutter.
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2 comments:
I never would have guessed it! The other day in entrepreneurship class we were reading about Peru and their success with self-starting businesses. They were ahead of almost everyone in terms of entrepreneurs and the support it gave their nation. I'd like to see what happens to them in the future, will they continue to grow or is this the top of the top for them?
One of the books that you have a choice of reading for the class is written by a Peruvian economist Hernando de Soto. It is very likely that the fact that it is rather easy to start a business in Peru at least partially due to his writings.
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