05/07/2011
Adalberto Rodríguez Giavarini: “In terms of global economy, the world is currently growing in an uneven manner. World trade is mainly driven by the emerging world which, thanks to its previous positive performance (2000-2008), is perceived as sound, and not by the developed world. The average GDP growth of the world in 2011was of 4.5, 2.5 belonging to advanced economies and 6.5 to emerging economies”
“In spite of the economic cycle’s favourable phase, Latin America faces significant social problems, such as a high unemployment rate, poverty indexes (33.1%) and destitution (13.3%), making it difficult for the population to tap the results of the economic growth”
“A prudent, anti-cyclical, serious, consistent economic policy allows the defining of State policies that grant higher degrees of freedom before the cycles of economy and that permanently improve the quality of the State’s institutions”
“Latin American countries must avoid the so called ‘Dutch Syndrome’ linked to oil and soy by creating anti-cyclical funds that avoid a currency revaluation. That ‘syndrome’ takes place when a country’s cherished natural resource attracts such an inflow of capital that it causes a currency revaluation that hinders the exports of other products”
“The global imbalance is the result of the American deficit and the Chinese surplus: the US and China never managed to reach an agreement over the Yuan’s devaluation”
“One of the assets of Latin America is the youth of its population which grants it an extraordinary difference, along with Africa, from the rest of the world. One of the most important advantages of this asset is that the accumulation and investment structure of the pension system is not threatened. In other words, Latin America will continue to have people working and contributing to the system in the future, thus stabilizing it”